We want to keep you informed about an upcoming industry change that may affect how foreign and Canadian checks are handled.
Currently, Latah Credit Union is still able to accept Canadian and other foreign checks for deposit. These items are processed differently from standard checks and may include longer hold times, possible fees, or collection-only processing depending on the details of the check.
Looking ahead, the Federal Reserve has announced that it will discontinue its Foreign and Canadian Check Service by the end of 2026. Foreign and Canadian checks will continue to be accepted through December 4, 2026, but after that date, processing options may change across the financial industry.
What this means for you:
- You can continue to deposit Canadian and foreign checks for now
- Processing times may be longer than standard checks
- This service may change or become unavailable after December 4, 2026
If you regularly receive foreign or Canadian payments, especially for business purposes, now is a good time to explore alternative payment options to avoid future disruptions.
If you have questions or want help reviewing your options, our team is always here to support you!
