First of all, thank you for all your input! I did send a secure message to my credit union, and received the following reply. I think it is worth sharing, though other credit unions/banks may not charge the same for the same services.

Dear dreamfool,

Thank you for your message. That is a great question. The fee to collect a foreign check depends on whether the check is issued in US Dollars. It will be less costly if the currency and country bank (bank of origin) match, for example a check drawn off a Japanese bank and issued in Japanese Yen, (this is your situation). This is called an Immediate Credit Item. The processing fee is $3, and funds will typically be credited to your account within 2 business days. Note: If the item may requires an extended hold, you will be notified within 2 business days. Foreign check holds can be longer than 11 business days in certain situations, for example new members and for high dollar amounts.

It may be of interest to you that a check issued by one country"s bank but in a different country"s currency is called a Collection Item. For example, a check drawn off a Japanese bank but written in US currency. The processing fee ranges from $50 to $100 and can take 4 to 8 weeks to receive credit in your account. Alternative: Consider asking the check writer to reissue a check as an Immediate Credit Item. For details regarding a specific check you have or will have, please contact us to determine the length of the hold.

I hope you find this information helpful. If you have any further questions please feel free to contact us. We value your 9 years of membership dreamfool. Enjoy the rest of your day!

Sincerely,

XXXXX
Web Financial Specialist
XX Credit Union