Regulation D
Regulation D impacts the number of transactions Members First Community Credit Union may allow on your deposit accounts (including all savings types). The Regulation was implemented by the Board of Governors of the Federal Reserve System, whose job is to ensure that financial institutions maintain adequate reserves for the funds they have on deposit. Regulation D affects you by limiting certain withdrawals and transfers that may be made from your Share Savings and Special Savings.
Any transaction with the exceptions listed below would be limited to six (6) per month.
There is no limit on the frequency or dollar amount of transfers for the purpose of repaying loans and associated expenses where the loan has been made to you by the Credit Union or is serviced by the Credit Union.
And, there are no limitations to the number of transactions that you handle on any account in person or by mail. You should know that Members First Community Credit Union will refuse any transactions that are not in compliance with Regulation D (checks may be returned and fees applied).
