The Federal Reserve Board’s Regulation D defines the types and number of transactions that can be performed on non-transaction accounts. This includes all Share and Money Market Accounts, which comprise of:
During any month, you may not make more than six withdrawals or transfers from your Share and Money Market Accounts to another credit union account of yours or to a third party by means of a pre-authorized or automatic transfer or telephonic order or instruction.
Up to six withdrawals and/or transfers per month from your Share and Money Market Accounts may be made by:
Up to three additional withdrawals and/or transfers per month from your Share and Money Market Accounts, but not to exceed the Reg. D total six per month in combination with those above, may be made by:
Not Reg. D - An unlimited number of withdrawals and transfers may be made by:
If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the credit union. Items in excess of six per month require special handling and a $3.00 per item fee will be assessed. Money market accounts will be assessed a fee of $5.00 per item. This process is invoked rather than returning items unpaid.
Specific Regulation D guidelines can be found in our “Account Information” Disclosure. You may call any of our Branches for a copy.