• Protecting our members.
  • All financial institutions are subject to this regulation.
  • Working with, not against, these Regulation D limitations.

    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 TFCU savings accounts affected by this regulation are Regular Share (Savings) accounts, Club accounts, and Money Market accounts. Transactions on TFCU 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. You may have no more than three (3) of these six (6) transfers made by check, share draft, draft, debit card, or similar order and payable to third parties. 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.

    WITHDRAWALS
    REQUEST IS MADE: Check Mailed to MemberCheck Mailed to a Third Party
    In PersonUnlimited  
    By MessengerUnlimited  
    By MailUnlimited  
    At an ATMUnlimited  
    By Telephone to a Staff Teller Unlimited6 per month/3 by check
    Through GENIE Unlimited6 per month/3 by check
    By Fax Unlimited6 per month/3 by check
    Through TFCU Internet Banking Unlimited6 per month/3 by check


    TRANSFERS
    REQUEST IS MADE: Between Accounts of Same MemberTo a Third Party
    In PersonUnlimited  
    By MessengerUnlimited  
    By MailUnlimited  
    At an ATMUnlimited  
    By Telephone to a Staff Teller 6 per month/3 by debit card(POS)6 per month/3 by debit card(POS)
    Through GENIE 6 per month/3 by debit card(POS)6 per month/3 by debit card(POS)
    By Fax 6 per month/3 by debit card(POS)6 per month/3 by debit card(POS)
    Through TFCU Internet Banking 6 per month/3 by debit card(POS)6 per month/3 by debit card(POS)
    To Pay a TFCU LoanUnlimited  
    Preauthorized Transfer 6 per month/3 by debit card(POS)6 per month/3 by debit card(POS)
    Automatic Transfer 6 per month/3 by debit card(POS)6 per month/3 by debit card(POS)
    Through Bill Payment 6 per month/3 by debit card(POS)6 per month/3 by debit card(POS)


    We are required to monitor all transactions on time accounts. Transaction requests that exceed the six (6) per month limitation or the three (3) checks, debit card, or point-of-sale limitations 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 TFCU'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 TFCU 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 GENIE or Internet 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.


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