Regulation D Requirements
Regulation D of the Federal Reserve System states that regular Share Savings Account members can make a total of six (6) transactions on their Share Savings Account each month. These transactions include pre-authorized or automatic withdrawals, telephone agreements, transfer to other members or to another account within the credit union. The credit union is required to monitor Share Savings Accounts to assure these types of transactions. Please click here for more information on Reg D Restrictions.
Funds Availability Policy
This disclosure describes your ability to withdraw funds at Suffolk Federal Credit Union. Please Click Here.
Depository Change Notice
Effective September 27, 2005, SFCU will no longer accept Interest Coupons (for matured or called definitive municipal securities) for collection. The holder of the coupon will be required to consult with his/her broker to have the payment converted to an electronic payment into their credit union account.
Identity Compliance Notice
In order to comply with the USA Patriot Act, effective October 25, 2002, SFCU is required to verify the identity of members applying for and opening new accounts or services with the credit union. Information that we are required to obtain include name, mailing and residential addresses, tax identification number, date of birth and a copy of government issued photo ID. Additional data may be gathered depending on the type of account opened. Data on existing members will be gathered as they open or use additional services offered by the credit union. The act requires us to maintain records of identity verification and periodically update this information.
Member Education: Key to Avoiding Phishing Scams
The latest twist in internet fraud is coming from criminals who won't try to break into or hack your credit union's data - they don't have to! All they have to do is trick you, the member into handing over personal financial information by impersonating a credit union in bogus email. Information is then used to obtain more personal information in order to steal identities, obtain cash or create counterfeit card information.
The scam is called phishing, and it's the fastest growing type of internet fraud. SFCU is dedicated to protecting our members. Below are steps provided in order to help protect yourself from phishing:
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SFCU would not ever send an email asking for personal, financial or card information.
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Never respond to any email requests for personal financial information and to delete any suspicious emails.
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Never disclose any personally identifying information if requested from an unsolicited email or phone call. This includes credit union account information, card information, Social Security Number, mother's maiden name, or other private information.
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Never reveal a private PIN (Personal Identification Number) or other credit union passwords.
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Be suspicious if asked to enter personally identifying information into an unexpected pop-up window, no matter how "official" it may seem.
Know the latest Phishing Scams:
http://www.millersmiles.co.uk/
http://www.antiphishing.org/phishing_archive.html
Find out more about avoiding Phishing Scams: http://www.ftc.gov/index.shtml
SFCU is not responsible for the content or availability of linked sites. Please be advised that SFCU does not represent either the third party or you, the member, if you enter into a transaction. Further, the privacy and security policies of the linked site may differ from those practiced by the credit union.
