For your protection
Tyndall is committed to offering you the best possible products and services. For your convenience, you may choose from several different types of accounts, each with different features designed to meet a variety of needs.
It is important to note, though, that while we have some freedom when we create our accounts, there are some account terms that we cannot change because they are regulated by the Federal Reserve Board.
The Federal Reserve Board's Regulation D limits the number of certain withdrawals and transfers from particular deposit accounts. Examples of Tyndall savings accounts affected by this regulation are Regular Share (Savings) Accounts, Club Accounts, and Money Market Accounts. Transactions on Tyndall Checking Accounts are not limited by this regulation.
All financial institutions are subject to this regulation.
Regulation D places a monthly limit on the number of specific types of withdrawals and transfers you may make on what is considered a "non-transactional" account. If you are not physically present to perform these transactions, they may be restricted by this regulation.
You may have up to six (6) preauthorized or automatic withdrawals or transfers to another account at the same credit union or to a third party during a calendar month. A ''preauthorized transfer'' includes any arrangement that the credit union makes either to pay a third party from the account of a member on written or verbal instruction or to pay a third party from the account of the member at a predetermined time or on a fixed schedule.
See the FAQs for more information on Regulation D and how it may affect you.