Federal Regulation D
AM Community Credit Union is required by the Federal Reserve Board (FRB) to limit the number of electronic withdrawals or transfers that a member can make from each savings or money market account (checking accounts have no limitations).
You are limited to 6 of the following transfers or withdrawals, in any combination within the period of one calendar month.
- Electronic Transfers or withdrawals from savings (Online Banking, Touch Tone Teller)
- Electronic third party withdrawals such as utility bills or insurance premiums if made by check, draft, debit card, or similar order.
- Overdraft transfer from your savings to your checking
- Telephone transfers from savings to checking.
There is no limit to the following transactions:
- Cash Machine(ATM) transactions
- In person transactions
- Mail transactions request
- Line of Credit transfers to checking (overdraft protection).
These restrictions do not apply to your checking accounts. You may make unlimited transfers and withdrawals from your checking accounts.
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