Regulation D

Account Classification & Transaction Limitation

Greater Kinston Credit Union is required to follow regulations set forth by the Federal Reserve Bank. Regulation D governs the amount of reserves that a financial institution must set aside based on deposit accounts.

The following transactions can be performed from your share, IRA or money market account but are limited to a maximum of six total transactions (any combination) per account, during a calendar month due to the requirements of Regulation D.

• Internet transfers to another deposit account
• Voice Response transfers to another deposit account
• Phone transfers to another deposit account via the local branch
• Overdraft transfers to a checking account
• Automated funds transfers to another deposit account
• Funds transfers or withdrawals (not initiated in person at a branch) and payable to a third party such as a wire transfer request or recurring wire

All other transaction types are unlimited.