Our Main Number will be changing from 203-688-2350 to 203-680-8668.
Our 24 Hour EverReady Teller will be changing from 203-688-4500 to 203-680-8600, the current 800 number will remain the same. Calls to the old numbers will not forward. Please make note of the new numbers and the date.
Federal regulations require credit unions, as well as banks, to limit the way withdrawals may be made from a savings account. Withdrawals in excess of these limits may result in a fee or account closure. Regulation D limits you to make no more than six (6) withdrawals or transfers from each savings account during a calendar month. Your checking account is excluded from this regulation.
What account does it affect and how?
Savings Accounts: During any month, you may not make more than six withdrawals or transfers to another account of yours or to a third party. These transactions include withdrawals or transfers to another account of yours, online banking transfers, overdraft protection transfers, transfers done over the phone with our Member Service representatives, and ACH withdrawals.
To help you understand these Reg. D savings account transaction limitations, and to avoid excess activity charges, please review the following information:
• ACH withdrawals
• Automatic transfers to another deposit account at Healthcare Financial FCU
• Automatic transfers to a third party or another institution
• Telephone transfers, including those initiated by phone call, fax or e-mail through Member Service Rep
• Online banking transfers
• ATM cash withdrawals and transfers (subject to the daily amount limits and sufficient available funds)
• Withdrawals made in person
• Transfers made in person at Healthcare Financial FCU
• Automatic transfers to repay your Healthcare Financial FCU loan
In order to ensure that no more than the permitted numbers of withdrawals or transfers are made, the Regulation requires that depository institutions take steps to prevent excessive transactions.
Excessive Transactions: Withdrawals or transfers by mail, in person at one of our branches, and through an ATM are unlimited and are not subject to the Regulation D 6-transfer withdrawal limitation. Transfers/withdrawals in excess of the 6-transfer/withdrawal limitations as described above may be subject to a transaction fee.
Effective September 1, 2015, if you exceed these six transfer limitations during a month, a $3.00 per item fee over the 6 will be assessed.
Tips to Avoid Regulation D Limits on your Share Savings Account:
• Open a Checking Account and have your Direct Deposit sent to your checking account, which is not subject to Regulation D. You can make unlimited transactions from your checking account.
• Arrange all ACH withdrawals and preauthorized debits to come out of your checking account instead of your savings account.
• Plan ahead and make one large transfer from your savings account instead of several small transfers.
• Use ATMs or perform your transfers in person from your savings account.
If you continue to violate those limits after you have been contacted by the Credit Union, the Regulation requires that either the account be closed or that the funds be transferred to a transaction account that the depositor is eligible to maintain.