Federal Regulation D- Effective June 1, 2017

Gold and Midas savings accounts will be limited to 6 transactions per month due to Federal Regulation D. It is important to know that all financial institutions must adhere to Federal Regulation D. Please see the chart below that explains what type of transaction counts against the monthly transaction limit.  There will be a $5.00 fee for each transaction over the 6 transaction limit during a statement period. Coming into the branch to deposit, transfer, or make a withdrawal is unlimited.

 

Deposits

Transaction Type Gold/ Midas Accounts All Other Accounts
In Person Unlimited Unlimited
Transfer (Direct Deposit/ Social Security) Unlimited Unlimited
By Mail Unlimited Unlimited

Transfers Between Accounts

Transaction Type Gold/ Midas Accounts All Other Accounts
In Person Unlimited Unlimited
ATM Unlimited Unlimited
By ACH or Auto-Transfer Six Unlimited
By Pre-Authorized Transfer to pay a WMCU loan
(ex: VISA, Mortgage, or Fees)
Unlimited Unlimited
Online Banking Six Unlimited
Phone Banking (CU* Talk) Six Unlimited
Calling a Teller Six Unlimited

Transfers to Third Parties

Transaction Type Gold/ Midas Accounts All Other Accounts
By Check or Share Draft Six Unlimited
By Debit/ ATM Card Six Unlimited
Phone Banking (CU* Talk) Six Unlimited
Calling a Teller Six Unlimited
By ACH or Auto-Transfer Six Unlimited
Using Bill Pay Six Unlimited

Withdrawals

Transaction Type Gold/ Midas Accounts All Other Accounts
In Person Unlimited Unlimited
ATM Unlimited Unlimited
By phone with check or share draft,
made payable to the member and
mailed to his/her address
Unlimited Unlimited