|
What
is the Current Interest Rate? |
Up
to 6.20% (S10) see the
Premium Rates Sheet
for details
|
|
Am I Eligible? |
Everyone who is a member is eligible
to invest in the Redifund (S10)
|
|
What can I use my
Redifund account for? |
Redifund
is a cash management account. You can invest in Redifund on call to
earn interest at close to money market rates. |
|
How much do I need to open an account? |
A
minimum amount of $500 is required to open a Redifund account. After
the account is open deposits of any amount may be made but withdrawals
are restricted and must be more than $500. |
|
How do I apply? |
Application
Forms for S10
Redifund and information can be obtained from this site or by calling your Credit Union office. |
|
How is interest calculated? |
Interest is calculated on the
daily balance. Different (tiered) Interest rates are applied to
different balance levels with the rate for your balance threshold
being applied to the whole balance of your account. |
|
When is interest paid? |
Interest is paid to your account twice per year in March and
September. |
|
How do I make deposits to my account? |
Deposits can be made to
Redifund in any of the following ways:
- Direct - have part, or all, of your pay deposited directly into your
Redifund account,
- Direct Credit - interest payments, dividends, rental income and
pensions,
- Through any Australia
Post branch via giroPost,
- Through any branch of the National Australia Bank - after obtaining a
specially encoded deposit book from your Credit Union,
- Cash or Cheque forwarded to or lodged at any of your Credit Union
offices,
- Transfers from
existing accounts using
Direct
Access.
-
Direct Debit
(using QuickDebit)
|
|
How can I make withdrawals from my account? |
You are requested not to withdraw
amounts of less than $500 from your Redifund account. Providing your
withdrawal in over $500 and the deposit funds are cleared, withdrawals can be made from your
Redifund account in the following ways:
|
|
What fees and charges apply to my
Redifund account (S10)? |
If you withdraw
less than $500 from your Redifund account, an administrative service
fee of $5.00 per withdrawal will apply.
You can withdraw by transferring to another hmcstaff account using
Direct
Access.
but, if you withdraw an
amount of less than $500, the $5.00 fee per withdrawal will apply.
Standard Transaction Fees and Government charges apply as per your
Credit Union's
"Equality and Equity" page. |
|
How often will I
receive information on my Redifund account? |
Account statements will be sent to you six monthly (at least). You
can check the details of your Redifund at any time using
Direct Access. |
