The Transport Credit Union
Share withdrawals can be emailed for quicker withdrawal of cash.....
Standard Shares Account
This is the member's main account and has the following benefits:
An Annual Dividend is payable on this account.
The recommended Dividend on your account from 1st Oct 2015 to 30 Sept 2016 will be an excellent 1.05% payable Feb 2017 to Members
You can also use these shares to borrow with and can apply for up to five times shares value using your shares as collateral. Although this is not an investment account, but a longer term savings account for Members, a single lump sum transfer of up to £1,000 may be paid into this account in any given 24 months.
Easy Saver Shares Account
This additional member's account and has the following benefits:
An Annual Dividend is payable on this account.
The recommended Dividend for savers from 1st Oct 2015 to 30 Sept 2016 will be a superb 1.05% payable Feb 2017 to Members
There is no loan facility on this account however it is an ideal facility for saving and accessing your savings whether or not you are borrowing on your standard account, great for saving for that special little event - or for Christmas
One weeks notice is asked for.
Gold Saver Shares Account
This additional account is designed for members to save longer term:
An “Annual Dividend” is payable on Your Gold Saver Account.
The recommended Dividend for savers from 1st Oct 2015 to 30 Sept 2016 will be a superb 2.05% payable Feb 2017 to Members
30 days notice is required for all share withdrawals. No lump sums can be paid into this account, but deposits of up to £100 per month can be saved in your Gold Saver, always provided you have an active Standard Account with at least £20 per week being deposited.
Further details available from office on request.
Apart from the normal notice period, urgent withdrawal can be made on up to two occasions per year with only The "Saver" account" notice period being given however the lower "Standard Dividend" would then be due for the amount uplifted.
Platinum Saver Shares Account
This additional 60-day notice account is specially designed for member’s longer-term savings:
An "Annual Dividend" is payable on your platinum saver account
The recommended Dividend for savers from 1st Oct 2015 to 30 Sept 2016 will be a brilliant 2.25% payable Feb 2017 to Members
Deposits of up to £100 per month can be paid into your Platinum Account provided you have an active Standard Account with at least £20 per week being deposited. No lump sums can be paid into this account. Further details available from office on request.
a) Apart from the normal notice period, urgent withdrawal can be made on up to two occasions per year with less than the "Platinum
Account" notice period being given however the lower "Standard Dividend" would then be due for the amount uplifted.
b) The current maximum shares permissible in the “Gold Saver” and “Platinum Saver” combined is £40,000
c) In the event that two “urgent” share withdrawals have already been made from a particular Higher Dividend Account without due notice in the past 12 months, no further “urgent” withdrawals can be made, however other options available would be either:
- Give the agreed notice required
- Take a standard loan as an alternative
- Take a short-term loan to cover the 60-day notice period
- Close down the account and transfer the balance into your “Standard Account”
All your shares in the Credit Union carry a Free Life Savings Benefit provided by your Credit Union for you on a £ for £ basis up to £10,000 up until your 65th birthday, normal terms and conditions apply.
Dividends on Shares can increase or decrease annually according to distribution of annual profits.
The Board annually consider what will be their Dividend Recommendation to all who are Members at their Annual General Meeting on the third Tuesday in February of each year.
This is intended as a guide only and could decrease in exceptional circumstances. When the Board recommendation is put to AGM and Members reach a decision, the Dividend is then be paid to all who are Members at the date of the AGM.
* Please note that a Credit Union Dividend is paid gross of Tax, as normal, you should ensure you meet any taxation responsibilities that may be due.
The better way to save
A cheaper way to borrow
Our Member Service Team can take your personal call
Mon - Thurs 8.45am - 16.00pm
Friday 8.45am - 15.00pm
10 Lines waiting for your call.
Licensed by : FCA for Money Counselling.
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