When members negotiate an item for deposit, the transaction may consist of cash, check, or a combination of cash and checks. 

Cash Deposits 

Accepting rolled coins for deposit 

LFCU members can deposit rolled coins into their account at any of our branches. 

Teller cash drawer audit  

Vault Cash Management                                                              

Vault cash is assigned to the Vault Custodian. All vault transactions must be performed under dual control. Vault transactions require a unique Keystone login.  

Placing an Order for Cash Shipment                                                         

The maximum cash limit for each branch is $200,000.00. This includes any vaults and cash drawers. Cash supply is ordered through Federal Reserve Bank and delivered by Brinks or Diebold. The assigned vault custodian must monitor the cash supply and ensure that branch cash needs are met and are maintained within an approved limit.  

Instructions for Placing Cash Shipment: BRANCH MANAGER CONSULATION   

Access through FedLine Advantage software on Desktop or https://www.frbservices.org/Electronic-Access/AccessFedLine.html 

All cash must be ordered by 2pm for delivery on the 2^nd business day (ex. Order by 2pm Monday for delivery on Wednesday). Cash will need to be ordered on Friday when holidays fall on a Monday. 

Note: For any issues, contact your End User Authorization Contact immediately – PVP of Support Operations. 

The minimum order on denominations are as follows: 

Note: The minimum amounts are also the incremental amounts you can order by.   

For example: $100 bills would need to be ordered in $10,000 increments with a minimum of $10,000. 

Cash ordering while the manager is out on PTO 

Cash can be ordered through Abbey or Bryan for any branch.  If a manager is going to be out or covering for a different branch and needs to order cash, an email must be sent to Abbey or Bryan and CC accounting with a copy of the cash order by noon on Monday so the order can be placed by 2pm.  The branch staff must be informed as appropriate, so they are aware. 

Incoming Cash Shipment (Receiving Cash Shipment)                                         

It is preferred that the vault custodian receives the cash shipment upon arrival, however, if the vault custodian is not available, cash deliveries could be accepted by any branch staff. Staff members must properly identify Brinks employees by asking for an ID, inspect the shipment for signs of tampering, and compare the cash order worksheet to the cash ticket included with the shipment. Refuse the shipment if the amounts do not agree otherwise accept the shipment. All receipts from cash shipment must be kept on file for one year.  

Vault Cash Deliveries                                                 

Currency deliveries should be verified and counted (piece-count) under dual control by the vault custodian and another branch employee before the end of the business day. Currency should be re-wrapped in a new wrap in buy/sell increments and both staff members should initial and date the strap. Once verified, it should be turned over to the Vault custodian and stored in the vault.  

Logging the Incoming Cash Shipment 

After placing an order, save the branch manager’s original cash order sheet in a designated location. The receipt from the cash shipment must be placed on the original order sheet, including the barcode sticker for future audits.  

Posting Incoming Cash Shipment on Keystone  

Posting Outgoing Cash Shipments on Keystone 

Outgoing Cash Shipment (Sending Cash Shipment) 

The Vault Teller must maintain and ensure the vault remains within the limit which is $100,000.00. Excess cash must be sold to the FRB or ATM (not exceeding the $80,000.00 ATM cash limit). To minimize cash shipment charges, the Vault Teller should try to arrange a cash shipment and cash order for the same day (Wednesday is normal delivery and pick up from Brinks). Place a cash order for the denominations you require and then prepare an outgoing shipment as follows: 

Instructions for Outgoing Cash Shipment  

The minimum deposits on denominations are as follows: 

Instructions for Outgoing Coin Shipment 

The minimum deposits on denominations are as follows: 

Instructions for Unfit Currency 

Any badly soiled, dirty, defaced, disintegrated, limp, torn, or worn-out currency note that is clearly more than one-half of the original note, and does not require special examination to determine its value, is not considered mutilated and should be included in your normal deposit.  

The Federal Reserve DOES NOT accept deposits of mutilated currency. Mutilated currency must be sent directly to the BEP's Mutilated Currency Division (Off-site), with a letter stating the estimated value of the currency and an explanation of how the currency became mutilated, to the correct address below based on the shipping method.  

Procedures for Depositing Contaminated Currency 

Prepare contaminated currency deposits using the following step-by-step process. Deposits will be refused if these requirements are not met. Please contact your local Federal Reserve Cash office with any questions. 

Instructions for Mutilated Currency 
Mutilated Currency 

A note that has been damaged to the extent that one-half or less of the note remains, or its value is questionable and special examination by trained experts at the Department of the Treasury or the Bureau of Engraving and Printing (BEP) (Off-site) is required before any exchange is made. 

Under regulations issued by the Department of the Treasury, mutilated United States currency may be exchanged at face value if: 

– OR – 

Any badly soiled, dirty, defaced, disintegrated, limp, torn or worn-out currency note that is clearly more than one-half of the original note, and does not require special examination to determine its value, is not considered mutilated and should be included in your normal deposit. 

The Federal Reserve DOES NOT accept deposits of mutilated currency. Mutilated currency must be sent directly to the BEP's Mutilated Currency Division (Off-site), with a letter stating the estimated value of the currency and an explanation of how the currency became mutilated, to the correct address below based on the shipping method. 

Note: Contact VP Operations for further instruction 

If using the United States Postal Service (USPS), please use the following P.O Box and specific zip code: 

If using a private carrier, please use the following street address: 

The best method to contact the BEP’S Mutilated Currency Division for information about pending cases is via their email address: mcdstatus@bep.gov. You may call the BEP’s toll-free number (866) 575-2361, to obtain information on a mutilated currency claim. 

If you believe the mutilated currency has also been contaminated, such that it may pose a health or safety risk, write the word “Contaminated “ on all internal packaging (not on the outside of the mailing container) and include a description of the contaminant, if known, in your letter to the BEP. For additional non-mutilated contaminated currency depositing information, please refer to the Contaminated Currency section. 

Instructions for Counterfeit Currency 

Federal Reserve Banks do not accept deposits of counterfeit or unlawfully altered currency or coin. Depository institutions (DIs) that have questions about where to forward suspected counterfeit currency can visit the "Report Counterfeit Currency" page (Off-site). If a Reserve Bank detects counterfeit or unlawfully altered currency or coin in DI deposits, the Reserve Bank forwards that currency or coin to the Secret Service, and the DI’s Reserve account is charged for the difference. 

How to Authenticate U.S. Currency 

Accepting a counterfeit note could lead to a monetary loss for individuals or businesses. The best way to determine whether a banknote is genuine is to rely on the security features. Staff at financial institutions can familiarize themselves with security features found in genuine Federal Reserve notes by visiting the U.S. Currency Education Program website, which provides educational materials, training and information on all circulating designs and denominations of Federal Reserve notes. 

If You Receive a Counterfeit 

If you ever doubt the authenticity of a note you receive, contact your local U.S. Secret Service field office (Off-site). 

For more information about FedCash Services' processing and operations, visit the FedCash pages or consult your local FedCash Services contact. 

How to Report A Counterfeit Note 

For any questions or directions on completing the form, contact your local U.S. Secret Service Office at (202) 406-8800 

Note: The Secret Service will investigate. If they need more information they will contact LFCU. 

If the counterfeit note was discovered in a night drop or ATM deposit, make sure to: 

ATM Daily Deposits and Settlement  

ATM settlement takes place at least once a week, whereas Daily Deposits are processed every business day. Cash is dispensed from the ATM via multiple cassettes and deposit items are received in the depositor compartments. ATM Settlement and ATM Deposit sheets are located within each branch’s folder and must be saved in their designated location after each settlement. ATM cash is sold from the vault under dual control with the vault custodian. Lafayette ATMs contain two cassettes and dispense twenty-dollar notes.  

ATM Deposit 

Start Daily Deposits procedure by obtaining the totals on the ATM terminal. Use the following steps on the ATM’s Supervisor Mode: 

Once the totals have been printed, retrieve the checks and cash from the depositor inside the ATM. Verify the deposits to complete the Deposit Log. If there is a discrepancy with LFCU member deposits go to the member’s account and use the following steps to make the correction:  

Proceed with completing the ATM Deposit Log. Complete the following on the ATM Deposit Log:  

Print the log and initial for dual control. Save a copy in the designated branch folder. Receive any cash into a teller drawer and credit it to GL: 774002.0000.0000.  

ATM Settlement 

Start ATM Settlement procedure by obtaining the totals on the ATM terminal. Use the following steps on the ATM’s Supervisor Mode: 

Once the totals have been printed, clear the cassette cash totals at the ATM terminal. Use the following steps on the ATM’s Supervisor Mode:  

After retrieving the cash totals receipt, remove the cash cassettes, then piece-count the ATM cash. Under dual control use the cash counters to verify all cash in the cassettes and any cash in the diverter. While doing the count complete the ATM Settlement Sheet:  

Return to the ATM terminal, confirm the toggle switch on the lower left-hand part of the screen is set to Supervisor mode: 

Print the ATM Settlement sheet, attach all copies of the Cassette Totals receipts to it, and place it in the ATM binder. Then save the excel sheet in the designated branch folder of the O Drive.  

Selling Cash from Vault to the ATM on Keystone 

Log into the vault Keystone profile to complete the following transaction:  

Attach the receipt to the ATM Settlement Sheet log.  

ATM Issues and Troubleshooting Procedure 

Receipt printer errors 
replacing receipt paper 
ATM Technician Contact Information 
Cassette dispensing jams 
Cash deposit jams 
Check deposit jams 
ATM rebooting 
 
 
Vault Cash Overages / Shortages (Differences)                                               

At the end of the day check the Branch Total Teller (BTT) computer generated report to ensure that TO and FROM the Vault figures are in balance. If there is a difference in the figures that means the vault cash is out of balance. Verify with each MSR that all vault transactions are posted. If the vault cash is out of balance notify VP Branch Operations and Accounting department immediately. The system does not allow MCO or MCI postings using Vault Teller Number.  

Selling/Purchasing Cash To/From the Vault Teller                                                      

All distributions of currency and any currency returned to the vault must be performed under dual control. The transaction must be documented by signing Cash To / From the Vault receipt to establish an audit trail. Copies of the receipt must be retained and attached to the vault and MSR Teller Totals (CTT) at the end of the business day. 

Restrictions 

Performing a buy/sell transaction using the DSUI including exporting or transferring cash between LFCU branches is restricted. Vault managers must ensure there is enough cash in the vault to handle member transactions.  

The MSR must initiate a buy/sell by doing the following 

The Vault teller must complete the transaction by doing the following 

End of Day Vault Procedures                                  

At the end of the day, ensure that all debits and credits to the vault have been executed properly.  A strap-count verification of the vault must be performed under dual control each day (regardless of the level of vault activity) in order to ensure balancing. When possible, the branch manager should assign alternate branch staffers as the designated dual control employee (the branch manager may serve as the dual control employee periodically too). The employee designated for dual control must piece-count five straps randomly in the presence of the vault custodian daily. The vault custodian and the dual control employee are also responsible for documenting the procedure with a copy of the vault CTT report. The copy will be used as a checklist for strap verification, and it will also be utilized to document which five denominations of straps were piece-counted. Once completed, the vault custodian and the dual control employee will initial the CTT and secure it in the vault. 

Note: Branch managers are required to conduct a full cash-count audit of the vault monthly as part of the monthly branch audit. The procedure should be performed on differing days each month to better ensure the vault's integrity. Moreover, the Chief Compliance Officer reserves the right to perform an unannounced full cash audit at any time. 

A member of management is responsible for reviewing the Branch Teller Total (BTT) report daily to ensure that the “to” and “from” vault figures are in balance. All vault activities must be attached to the vault CTT and included with the daily work. 

Assignment of Vault Responsibilities                

In the absence of a vault custodian, the Branch Manager will assume the vault responsibilities or assign a staff member. The entire cash will be verified and counted under dual control then turned over to whoever is assigned to take the vault responsibilities and stored under that person’s exclusive control.  

Mini -Vault                         

Mini -Vault / Saturdays 

A Mini-Vault cash box is maintained in the Financial Service Centers that are open on Saturdays; the box is located inside the main vault. The keys/combos are available to the manager on duty through pre-existing arrangements and are to be logged in and out in the Key Log as normal procedure.  

A sample breakdown of suggested denominations is as follows 

TOTAL: $21,355.00 (this is only a suggested total; lesser amounts are acceptable) 

Mini-Vault Cash Replenishment / Auditing 

The Mini-Vault cash will be verified by the Vault Teller under dual control on Monday. If needed, the Mini-Vault cash will be replenished prior to the following Saturday.  

Teller Cash Management 

Teller Cash Drawer Limits   

A Teller cash limit includes the total currency and coin maintained using sole control and may not exceed $8,000.00 except JWFSC and CCY $10,000.00. Cash in the front cash drawer should not exceed $2,500.00, except JWFSC and CCY $5,000.00. Cash over the front drawer limit must be stored in the assigned individual box inside the vault. The full cash count must be performed before opening and at the close of business. A printed signed CTT must be included in the Teller cash drawer.  

Notification: In the event there are shortages / overages in a Teller cash drawer, it should be reported to the Branch Manager, the VP Sales & Service, and the Chief Compliance Officer.  

Lafayette Federal Credit Union Over/Short & Check Hold Policy 

This policy is intended to be a guideline to uniformly handle teller differences and violations of the check hold procedures. It applies to all staff members who perform transactions on members’ account/s.  

Chargeable differences are amounts $10.01 and greater, are not recovered within 2 business days, and are listed on the individual’s personnel file. 

Non-chargeable differences are amounts $10.00 and less and are not listed on the individual’s personnel file unless it is habitual. 

Drawer Differences 

All differences, regardless of amount, will be recorded on the teller’s over/short record. This log must be maintained and kept up to date in the branch. Chargeable differences must be reported to the Branch Manager and the VP of Sales & Service on the day they occur. A “Report of Chargeable Differences” must be completed by the Branch Manager and provided to the VP of Sales & Service. A grace period of two business days is afforded for error recovery. If the error is not recovered, a “Report of Chargeable Differences” will be filed on the third business day after the difference occurred.  

For chargeable differences, the standard will be addressed in the following manner: 

First Offense and/or $10.01 to $50.00 aggregate. 

Employees will be verbally advised of the specific performance exception. The supervisor will counsel the employee concerning the Over/Short Policy, document such warning and provide a copy to HR for inclusion in the employee’s personnel file. The employee may be placed on a 30-day review period. Any additional offense within the review period may result in a performance review and disciplinary action up to and including termination. 

Second Offense and/or $50.01 to $100.00 aggregate. 

Employees will be advised in writing of the specific performance exception and will again be counseled concerning the Over/Short Policy. A copy of this letter will be forwarded to HR for inclusion in the employee’s personnel file. The employee may be placed on a 60-day review period from the date of the first offense. Any additional offense within the review period may result in a performance review and disciplinary action up to and including termination. 

Third/Final Offense and/or $100.01 to $300.00 aggregate. 

Employees will be advised in writing of the specific performance exception and will again be counseled concerning the Over/Short Policy. A copy of this letter will be forwarded to HR for inclusion in the employee’s personnel file. The employee may be placed on a 90-day review period from the date of the first offense. An evaluation of the circumstances of the violation as well as an analysis of the employee’s work history and overall performance may be made by the VP of Sales & Service and action may be taken up to and including a 3-day suspension without pay and/or termination. Any additional offense within the review period may result in a performance review and disciplinary action up to and including termination. 

Vault Cash Differences 

All vault cash overage/shortage differences will be defined as Gross Violations regardless of the amount. Gross violations of the minimum performance standards may result in a performance review and disciplinary action up to and including termination.