FAQs

 

• Do I have to be a member to open a Term Deposit?
• How much do I need to deposit to open an account?
• How do I make deposits to my account?
• How do I make withdrawals from my account?
• What happens at maturity?
• How often will I receive information on my account?

Do I have to be a member to open a Term Deposit?

The credit union is a mutual financial services organisation and as such is owned by its members, each of whom is a shareholder. Therefore you must be a member of the credit union to open a Term Deposit. Learn more about becoming a member. ^

How much do I need to deposit to open an account?

You can open an account with a minimum of $1,000. ^

How do I make deposits to my account?

You can make deposits to your Term Deposit account over the counter at our branch by either direct deposit or transfer from your savings account. Transfers will be accepted by fax or letter. ^

How do I make withdrawals from my account?

Your funds are available at the end of your chosen term. At the end of your chosen term you can prearrange to withdraw your money either by transfer to existing accounts, over the counter at our branch, or cheque withdrawals via fax. ^

What happens at maturity?

At maturity you can:

• Automatically re-invest your funds for another term
• Add extra funds
• Withdraw all or part of the funds

You must tell us what to do with your deposit at the end of the term (if not, we will re-invest it for another term at the rate applicable to that term of deposit at that time). ^

How often will I receive information on my account?

Statements are issued at least six monthly. More frequent or duplicate statements can be requested at any time from our branch, however a fee may apply for duplicate statements.

Account Balances and Statements are also available through our internet and telephone banking services. ^

Decided on the Term Deposit that's right for you?

Apply using our simple online Term Deposit application form.

Want to know more?

 

• Read our Budgeting Tips
• Use our online Savings Calculator.
• Contact one of our friendly staff who will be happy to answer any questions you may have.