U of I Employees Credit Union
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Regulation D

Share Savings Transfer Limits

Like all U.S. financial institutions, the University of Illinois Employees Credit Union complies with Regulation D, the U.S. Government’s regulation limiting transfers and withdrawals from member’s share savings accounts.

Per Regulation D - Members are limited to six (6) transfers and withdrawals per calendar month from any share savings account (including Club Accounts and Illini Draft Money Market), to any other account or third party. After reaching the limit of six (6) transfers or withdrawals, subsequent transactions will be denied.

Please note that certain transaction types are limited to no more than three (3) of the six (6) transfers/withdrawals per month from your savings account. This includes drafts written to a third party and applies to transactions executed with an ATM/Debit card as well as other types of electronic transactions.

This regulation applies only to certain types of share savings transactions. If you have any questions regarding this regulation, please contact the Member Services at 217-278-7700 or toll free at 877-678-4328.

Regulation D does not apply to Share Draft, Campus Checking, Illini Advantage, or Illini Advantage PLUS checking accounts.

Affected Share Savings Transactions

Up to six (6) withdrawals or transfers permitted per calendar month - but no more than three (3) of the six (6) can be by share draft, check, debit card, or similar payment vehicle payable to a third party - when:

  • Made for transfer to the member’s other account(s) at the credit union or to a third party and initiated by preauthorized, automatic, or bill-payment arrangement (including ACH, EFT, and transfers to cover overdrafts)
  • Made to another account of the member at the credit union and initiated by telephone, fax, or personal computer (PC)
  • Transfers made through home banking
  • Made payable to a third party and initiated by messenger, telephone, fax, or PC
  • Initiated by fax

Unlimited withdrawals permitted when:

  • Made in person at the credit union
  • Made by messenger
  • Made by a mailed letter request
  • Made by a check payable to the accountholder, mailed to the accountholder and initiated by telephone, fax, or PC
  • Made using an ATM

Unlimited transfers permitted when:

  • Made between the accounts of the same member AND made in person, by messenger, by mail, or at an ATM
  • Made by the member to pay a loan the member has with the credit union
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