Protecting our members.

Let us first say we are honored to provide you with a vast array of products and services.  For your convenience, you may choose from several different types of accounts we offer, depending on your needs.  For your protection, these accounts are regulated by the Federal Reserve Board.

The Federal Reserve Board's Regulation D limits the number of certain withdrawals
and transfers from particular ''time'' deposit accounts.  Examples of Tyndall savings accounts affected by this regulation are Regular Share (Savings) Accounts, Club Accounts, and Money Market Accounts.  Transactions on Tyndall Checking Accounts are not limited by this regulation.

All financial institutions are subject to this regulation.

Pursuant to Regulation D, you may have up to six (6) preauthorized or automatic withdrawals or transfers to another account at the same credit union or to a third party during a calendar month.  A ''preauthorized transfer'' includes any arrangement that the credit union makes either to pay a third party from the account of a member on written or verbal instruction or to pay a third party from the account of the member at a predetermined time or on a fixed schedule.

The table shown below indicates the status of various types of transactions.

TRANSFERS

We are required to monitor all transactions on time accounts. Transaction requests that exceed the six (6) per month limitation per calendar month must be denied.  If any member should exceed the transfer limits, the credit union may refuse or reverse the transfer, and the account will be subject to suspension or closure by the credit union, and a charge may be imposed.  Section 11 of Tyndall's ''Membership and Account Agreement'' explains these limitations. ''Membership and Account Agreements'' are given to all new members and are available to all members upon request.

How can you work with, not against, these Regulation D limitations?

• Use your Tyndall Line of Credit or VISA^® as the primary source of your overdraft protection.  If you use your Regular Share (Savings) or Money Market Account and you have already made too many ''restricted'' transfers or withdrawals from that account during the month, the overdraft protection transfer will not take place.  This can result in fees being imposed and the check being returned to the merchant.


• If you use GENIE24 or Online Banking to transfer from one of the regulated accounts to your Checking Account to cover checks or to make payments set up through Bill Payment, plan ahead and make one large transfer instead of a lot of smaller ones.  If that isn't convenient, transfer the funds through the ATM or in person at one of our branches.


• Preauthorized electronic funds transfers (ACH) and electronic withdrawals from your Regular Share (Savings) or Money Market Account are considered Regulation D transactions. For example, if you have an insurance premium or safe deposit box fee automatically withdrawn from your account or if you have requested that funds be sent electronically (ACH) from that account to another financial institution, you are subject to Regulation D limitations. Therefore, it's better to have these types of transactions set up from your Checking Account, if possible.


• Balance your check register regularly to limit the need for overdraft protection.