Regulation D limits the number of withdrawals from a savings account to six per month. This includes any withdrawals/transfers to cover overdrafts in a checking account. And, this is a combined six per month. So, if a member were to make two other "Reg D" withdrawals in a given month, the member would only have four left for transfers to the checking account to cover overdrafts. ****Read More; http://bit.ly/ylX83D
The Quiet Governance Risk Credit Unions Should Talk About By Grant Sheehan, CCUE | CCUP | CEO, NCOFCU Having spent many years both serving on a credit union board and leading as a CEO , I’ve had the opportunity to see governance from both sides of the table. That perspective has given me a deep appreciation for the delicate balance that must exist between management, leadership, and board oversight. When that balance works well, credit unions thrive. But when it slowly shifts — often unintentionally — it can create governance weaknesses that regulators and examiners increasingly watch for. In conversations with governance professionals and through years of industry experience, one theme keeps emerging: most governance problems don’t begin with bad intentions or misconduct. They begin with boards that gradually become too dependent on management. This is rarely obvious at first, but in fact, it often occurs within high-performing organizations. But slight patterns ca...
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