Allegheny-Kiski Postal FCU

Effective July 1st, 2020, the credit union is required to provide the following:

1. $225 for next day availability for all instances where it was previously required to provide a minimum of $200.
2. In addition, the $5,000 availability requirements for holds on new accounts, large deposits, and repeat overdrafts will increase to $5,525.
3. The $400 Rule has been increased to $450.  On the day that funds become available for withdrawal, we may limit to $450 the amount of cash that the member may withdraw.                                                                                                                                    This change was due to statutory inflationary requirements.

Regulation D will restrict you to six transactions from your savings account per calendar month based upon the type of transaction requested and method used to request them.  Here is a list of the different types of transactions that are affected by Reg D.

Transactions limited to a total of 6 withdrawals or transfers per month:

• Online banking and mobile banking transfers between your accounts,
• Automatic transfers, including those for overdraft protection,
• Transfer made over the phone,
• Any pre-authorized automatic withdrawal,
• Any checks to a third party from your savings

What happens if I exceed my limit of 6 transactions for the month?  We may reject your transaction and be forced to close your account.

How can I stay within my limit?  If you need to perform more than 6 withdrawals or transfer, consider opening a free Share Draft account.  Upon approval, your first 50 checks are free.  The are no monthly maintenance fees and you can also apply for our NO SURCHARGE ATM/DEBIT card.  Please contact us if you have any questions or concerns on Reg D.

 

When it comes to transactions, all accounts are not created equal.  There are “transaction accounts” like share draft accounts (known as checking accounts) which offer unlimited transactions of any type or form.  Then there are “non-transaction accounts” like share accounts (known as a savings account).  Regulation D (Reg D) of the Federal Reserve Bank limits the number of certain types of withdrawals and transfers which can be made on share accounts to a total of no more than six each month.  This monthly limit is based on when the transactions are posted to your shares not when you authorized the ACH transaction.

Worried about traveling  in your current vehicle? Unsure if you can safely get to and from work without a breakdown?  Then consider financing a new or used vehicle at the Credit Union!  New auto loan rates start as low as 2.99% depending on your credit score.  Our used auto rate starts at 3.99% depending on your credit score.  Any used vehicle must be 7 years or newer and we lend according to the NADA loan value.  Call with any questions you have or come in to apply today!

We also work with Enterprise Car Sales to help  find the perfect vehicle for you!  If you’re looking for a quality used vehicle, they are the place to go! We will finance, if approved, 100% of their selling price!   Check out the cars available on the website www.enterprisecarsales .com or call 1-800-227-7253.

 

 

 

 

If you have a vacation planned or a quick weekend getaway and plan to use your debit or credit card, give our office a call before you go.  We will put a travel notification on your account to avoid  declines while you are away.  Otherwise,our fraud department may put a temporary block on the card until they can verify transactions with you.  This would also apply if you will be spending out of your normal spending habits.