IMPORTANT NOTICE ON CASHIERS CHECKS

A cashier’s check is a check issued by a financial institution, payable to a specific person. It is often used as a trusted form of payment to consumers for goods and services.

Having access to funds from a cashier’s check that you deposit in your account does not mean the check is authentic. If you sell goods over the Internet and a buyer sends you a cashier’s check for the price on which you agreed, it may take weeks to discover that the cashier’s check is fraudulent. By that time, you may already have used the funds. When the fraud is detected, you will owe the Credit Union the full amount of the cashier’s check funds that you deposited and used.