Notice Plus Terms and Conditions

Amount:

• No minimum.
• Maximum deposit £40,000 (note that the overall balances held by the member with the Credit Union cannot exceed the maximum £40,000 level).

Deposit:

• Via transfer from Member Account.

Withdrawal:

• Via transfer to Member Account.
• 90 days notice required to avoid any loss of dividend.
• If no notice is given funds can be withdrawn but a penalty equivalent to 90 days dividend on the amount you withdraw will be deducted from the remaining balance, or, if that is insufficient, from the amount withdrawn or the Member Account.

Return:

• Variable but will be 1% above that paid on the Member Account.
• Paid via dividend annually.
• Rate will be based on profits made by the Credit Union and subject to policy and legal requirements at the time.
• Paid at the same time as other dividend shortly after AGM.
• Dividends will be advised on the website and in the newsletter.

We recommend that you only deposit funds into this account, that you know you will not need at short notice and that you retain sufficient funds in your Member Account to meet your day to day needs. You will need to plan ahead for the use of these funds.