|
What
is the Current Interest Rate?
|
5.25%
pa
|
|
Am
I Eligible?
|
Everyone
who is a member is eligible |
|
What
can I use my Christmas Club account
for?
|
Your
Christmas Club account provides a way
for you to reach a goal by sticking to a
regular savings pattern. Once you have determined how much it is that you will
need for your goal your Credit Union
will help you to calculate, maintain the
discipline and save the
amount on an instalment basis.
|
|
How
much do I need to open an account?
|
You
can open a Christmas Club account with
just $1 |
| How
do I apply? |
Application
Forms and information can be
obtained from this site or by
calling your Credit Union office. |
| How
is interest calculated? |
Interest
is calculated on the minimum monthly
balance. |
| 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 only be made to your S3 in the
following ways:
|
| How
can I make withdrawals from my account? |
You
are requested not to withdraw from your
Christmas Club account except during the
month of December, then, providing
deposit funds are cleared, withdrawals
can only be made from your Christmas
Club account by transfers
to existing accounts.
You can also nominate a Credit Union
account for transfer of the balance of
your Christmas Club account on the first
business day of December each year.
|
| What
fees and charges apply to my Christmas
Club account (S3)? |
If
you withdraw outside of the month of
December, an administrative service fee of
$5.00 per withdrawal will apply.
Withdrawals can be made in the ways
stated above.
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
Christmas Club account? |
Account
statements will be sent to you six
monthly (at least).
You
can check the details of your S3 at any
time using Direct
Access.
|
