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First Choice Credit Union is required by law to enforce Federal Reserve Regulation D concerning transfers from your savings accounts.

Regulation D allows you to make six (6) transfers from your savings account to your checking or another account per calendar month. These six (6) transfers include telephone transfers, homebanking transfers, automatic overdraft transfers and ACH debits for things such as mortgage payments, insurance payments, utility bills, etc. Overdraft transfers include transfers made from your savings to pay share drafts, ATM, debit card and ACH transactions.

When you have reached your limit, no more automatic, overdraft, or telephone transfers will be allowed for that month. Please be informed that this may cause returns and return fees if you exceed your limit of transfers for the month.

Share draft checking is not affected by Regulation D and may have an unlimited number of transactions. However, share savings is considered a non-transactional account which is why the regulation only allows six (6) transfers per month.

Please do not hesitate to contact us if you have questions.