Lenco Credit Union

CHECK NEGOTIATION POLICY

Effective 3/1/2022

It is the policy of this credit union to cash checks for individuals under the following guidelines:

Lenco Credit Union will cash checks made payable to credit union members, subject to normal funds availability, for members that meet any of the following criteria:

1. Aggregate share account balance of $100 or more OR
2. A current Lenco loan OR
3. A current Lenco VISA account OR
4. A Lenco ATM, Debit, or Credit Card.

Members that do not meet any of the above criteria may cash or deposit the following types of checks, made payable to the member and subject to approval, for a $2.00 fee.

1. Government issued checks
2. Payroll checks
3. Bank & Cashiers checks

We do not cash checks for members with a negative account balance or delinquent loan. It is our policy to NOT negotiate third party checks or checks payable to non-members. However, we will consider exceptions in the following cases:

1. We do not cash checks for members with a negative balance or a delinquent loan. It is our policy to NOT negotiate third party checks payable to non-members. However, we will consider exceptions if the non-member is accompanied by a member that is willing to endorse the check and has a 60 day average daily balance exceeding the amount of the check.

FEES AND SERVICE CHARGES

Effective 3/01/25