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REGULATION "D"

Regulation "D" and Its Affect On Your Deposit Accounts

Regulation D impacts the number of transactions Visions FCU may allow on your deposit accounts (including savings, money market, trusts and clubs). 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.

How does Regulation D affect you? It limits the number of pre-authorized, automatic or phone transactions you make each month on a savings account to a maximum of six. Balance inquiries, loan payments (between suffixes on one member number), and all transactions from a checking account do not count as part of those six transactions. And, there are no limitations to the number of transactions that you handle on any account in person, by mail or through an ATM.

You should know that Visions will not refuse any transactions that are not in compliance with Regulation D, however  a $20 fee will be charged to your account per occurrence after the initial six (checks may be returned and fees applied).

 

REGULATION "D" IS A DIRECTIVE OF THE FEDERAL GOVERNMENT, NOT OF YOUR CREDIT UNION

 

 
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