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Regulation D Notice to Membership

Regulation D is a directive of the Federal government that is imposed on all financial institutions (banks and credit unions). To maintain compliance with Regulation D, the credit union places a monthly limit on certain kinds of transfers and/or withdrawals from savings accounts.

Transactions that count toward the Regulation D limit include the following:

  • Overdraft transfers made automatically to cover insufficient funds in other accounts
  • ACH withdrawals by third parties
  • ACH transfers to other deposit accounts (transfers to credit union loans are not counted toward the limit)
  • Internet/Mobile banking transfers
  • Transfers performed via telephone request
  • Payroll transfers (except for those to credit union loans)

Members are allowed a total of six of the above listed transactions per month, per account. Transfers/withdrawals done in-person at the credit union are not affected by the regulation.

On April 1, 2018, the credit union will begin to charge a $2 fee for every transaction in violation of Regulation D. In other words, you will be charged $2 for every transaction over the six (6) allowed. On the last day of the month, all fees will be deducted from the member savings account that is in violation of the regulation.

The credit union also reserves the right to take other action as necessary to ensure compliance.

Transactions not affected by Regulation D include the following:

  • Deposit and withdrawal transactions made at an ATM
  • Transfers done in person at any of our office locations
  • Transfers to make loan payments
  • Transfer requests made in writing and delivered through the mail or a messenger with signatures
  • Overdraft protection for a share draft account made from a line of credit
  • Withdrawals made by telephone (via check mailed to depositor)

Any transaction from a share draft account which does not necessitate an overdraft transfer from a share (savings) account. The credit union's new fee schedule reflecting this Regulation D fee is here. For additional information call our member service department at 906-228-9850 or visit a branch office.

Official Annual Membership Meeting Notice

Notice is hereby given that the Members’ Annual Meeting of Marquette Community Federal Credit Union will be held at the Great Lakes Rooms of Northern Michigan University, University Center, Marquette, MI 49855 on Thursday, March 15th, 2018 at 7:00 pm for the purpose of electing directors of the Credit Union and transacting other such business as may properly come before the meeting. Members of the credit union are urged to attend. The officers will report on the activities of your Credit Union for the past year, including reviews of financial results and audits.

The bylaws authorize a nine member Board of Directors to be responsible for the control and operation of your Credit Union. A full board term is three years. Position openings alternate so that no more than three regular terms end in any year. This provides continuity of the board.

Chairman Thomas Meravi appointed the following to serve on the nominating committee: Sue Noel and Jake Greer. The committee submits the following slate of nominees for the three open three year positions and a one year position that was appointed due to the resignation of a Board Member:

Three year term nominations: Connie Williams, Brian Anderson, John Greenberg One year term nomination: Garry Tollefson

Nominations will not be accepted from the floor during the meeting. Any member interested in running for the board may submit a written petition indicating the name of the person to be nominated. This petition must be signed by twenty members of this credit union and accompanied by a letter from the person to be nominated indicating his or her willingness to serve if elected. Each nominee by petition must submit a statement of qualifications and biographical data with the petition. All such nominations must be completed and received by the Board Secretary, Connie Williams, by February 3, 2017. No names may be placed in nomination for any vacancy for which elections are being held except as provided above or by the nominating committee.


Phone Number Update

The phone number to call if your MCFCU Credit Card has been lost or stolen during non-business hours has changed.  The new number is 800-828-3901.  Please update your records. 


Identity Theft Prevention

ATM, Visa Debit, and Visa Credit Cards will be closed if they are not activated within 90 days of receipt.

All activated cards that have not been used in the past year will also be closed.  If you still wish to have your card, please notify us at (906)228-9850. 

 


Check Copies Are Available Though Online Banking

Just click on the blue hyper-linked check number through Online Banking and a copy of the check will appear. Checks that clear as a WEFT will not have copies because the check has cleared electronically and there is no image to view.

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