Why is there a $2000.00 per day cash limit?
There are several reasons that we have $2000 per day maximum cash withdrawal limit.
- An excess amount of cash poses a security risk for the member and the credit union.
- It is not possible for the credit union to determine the amount of funds requested per member per day, therefore a maximum limit of $2000 per day has been imposed so that we are able to serve all members.
- Cash on hand is a non interest earning asset. This means that these funds are not earning dividends that can be used for the benefit of the entire membership. These benefits can include lower loan rates and higher savings rates.