If you do not currently have an outstanding loan with the Credit Union, you may withdraw from your shares at any point. You can now do this via the online area for members (you must register for online services first, top right hand side of the website) or you can submit a share withdrawal form and either email, fax or post back to the office.
If received by us by 1:30pm, your withdrawal will normally be processed the same day for payment into your stated bank account within two working days. You can request a specific date if you wish to be paid later; we will try to accommodate this.
You can withdraw from your standard share account up to six times over a 12-month rolling period. If you need to withdraw more than six times, please contact the office and we can discuss your options with you.
You are able to make a withdrawal from one of your higher dividend accounts without giving the stated notice period twice a year. Please note however, the lower “Standard Dividend” would then be due for the amount you have withdrawn.
In the event that two share withdrawals have already been made from your Gold or Platinum account without giving the required notice, no further “no-notice” withdrawals can be made.
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 share account
In order to close your account, you must have settled any outstanding loan balances owed to the Credit Union beforehand. Two forms are required in order for us to carry out the closure fully