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Account Classifications & Transaction Limitations

New South Credit Union, like all financial institutions, 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 Savings, IRA or Money Market accounts 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 a branch
  • Overdraft transfers to a checking account
  • Automated funds transfers to another deposit account
  • Funds transfers (not initiated in person at a branch) and payable to a third party such as a wire transfer request or recurring wire

All other transactions types are unlimited.

For more information, please review the Rules & Regulations Brochure.