Members First Credit Union
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Our Credit Union and Regulation D

A federal law, known as Regulation D, requires that all financial institutions limit certain withdrawals from share/savings accounts. This law allows you to conduct up to six withdrawals from a share/savings account per month. The credit union is required to take action on these accounts when withdrawals go beyond the six per month. Effective February 8, 2012 share/savings accounts will be structured in the following way to ensure compliance with Regulation D.

 

00 Regular Savings
Unlimited FREE withdrawals
$100 minimum automatic withdrawal transfers
Sub Share/Special Savings,
Christmas Club, Escrows,
Non-Interest Savings
Withdrawals will be stopped after 6 per month
(in person withdrawals are unlimited)
High Yield Savings
 IRA High Yield Savings
Withdrawals will be stopped after 6 per month
(in person withdrawals are unlimited)
$100 minimum automatic withdrawal transfers
Super High Yield Savings
IRA Super High Yield Savings
Withdrawals will be stopped after 6 per month
(in person withdrawals are unlimited)
$100 minimum automatic withdrawal transfers

Tips to avoid exceeding the six withdrawal limitation:
  • Plan your budget and transactions in order to make one or two large withdrawals or transfer to cover your bills per month
  • Consider using your checking account to pay regular bills

  • Choose transactions that are not limited by the law (for example, ATM or in-person withdrawals
    Use Online Banking to keep track of your balances and monthly withdrawals

 

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Members First Credit Union | P.O. Box 2165 | Midland, MI 48641
Phone 855-835-MFCU (6328) | mail@mfcu.net

Federally insured by NCUA.
We do business in accordance with the Fair Housing Law.