Deposit & Share Withdrawal Services
Effortlessly manage your credit union funds. Enjoy automated salary deductions, bank-to-bank transfers, and fast 2-business-day processing on unencumbered share and deposit withdrawals.
Convenient Ways to Grow Your Savings
Choose from flexible deposit channels designed for convenience and speed.
Salary Deduction
Set up automated recurring monthly deductions directly from your Central Bank or employer payroll department credited seamlessly to your Share or Deposit accounts.
Commercial Bank Transfer
Transfer funds online from your FCB, Republic, Scotiabank, or RBC account to CBECU’s commercial bank account:
In-Person Office Teller
Visit our 11th-floor office during regular hours (Mon–Fri, 8:00 AM – 3:00 PM) to deposit cash or cheques. (Note: Cash deposits are capped at $5,000 per transaction).
Shares vs. Deposit Withdrawals
Understanding the difference between liquid deposit accounts and equity share capital.
Share Account Withdrawals
- Unencumbered Shares Only: Members may only withdraw shares that are not pledged as collateral security against an active loan.
- Dividend Impact: Share withdrawals reduce your qualifying equity balance for annual dividend distribution.
- Turnaround Time: Processed and disbursed to your bank account within two (2) business days.
Deposit Account Withdrawals
- Fully Liquid Savings: Withdraw on-demand savings anytime without impacting your qualifying share ownership.
- Zero Service Charge: No administrative fees or withdrawal penalties on standard deposit accounts.
- Turnaround Time: Processed and transferred directly to your bank account within two (2) business days.
How to Withdraw Your Funds
Follow our streamlined 3-step workflow to access your savings quickly.
Complete Withdrawal Form
Download and fill out the official CBECU Withdrawal Form specifying amount, account type, and destination bank.
Submit Form & ID
Submit your signed form via the online banking portal or in-person at our 11th-floor office with valid photo ID.
Receive Funds (2 Days)
Funds are transferred directly into your designated commercial bank account within 2 business days.
Source of Funds Declaration Notice
In accordance with statutory Anti-Money Laundering (AML) and Counter-Terrorism Financing regulations, all single deposit or withdrawal transactions exceeding
$20,000.00 TTD require a completed and signed Source of Funds Declaration Form.Common Questions on Withdrawals
Clear answers on processing times, limits, and encumbered shares.
How long does it take to receive my withdrawn funds?
Withdrawals from both Share and Deposit accounts are processed within two (2) business days. Funds are transferred via direct ACH electronic deposit to your specified commercial bank account.
Can I withdraw shares if I have an existing loan?
You may only withdraw unencumbered shares. Any shares pledged as collateral security against an active loan balance are locked (encumbered) and cannot be withdrawn until the loan balance is sufficiently paid down.
Is there a limit on cash deposits at the office?
Yes. For safety and security regulations, our in-office teller accepts a maximum of $5,000.00 TTD cash per deposit transaction. Larger amounts can be transferred directly via online commercial bank transfer or payroll deduction.
What are the fees for withdrawing funds?
Withdrawals from Deposit accounts are 100% free with $0.00 service charge. Withdrawals from Share accounts carry a standard statutory administrative fee of $20.00 TTD per request.
Ready to Submit a Deposit or Withdrawal?
Download the official withdrawal request form or contact our member services team for immediate assistance.