Australia's             financial institution, owned by and run for indigenous people bringing culturally

appropriate financial services to people living in some of the most remote areas of the country, speaking

the same language, knowing the same cultures and coming from the same land as our customers.

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Term Desposits

 

Term Deposits are used to put your money aside and to earn you money in interest. If you receive a special payment for something such as a tax return, Centerlink bonus or royalty payment you can put some or all of that money aside in a term deposit so that it lasts longer and you earn some money on it.

 

IMPORTANT INFORMATION

 

As an example, if you deposit $5,000 in a Term Deposit for 12 months at an interest rate of 4.00%, when your deposit

matures it will be worth $5,200. If you then compound your interest and reinvest the term deposit for a further 12 months

you deposit will be worth $5,408.

 

Term Deposits can be opened at any TCU Branch.

 

Term Deposits can be lodged from as little as 30 days to as much as 2 years.

 

A minimum deposit of $500 is required to open a Term Deposit for 3 months or more.

 

A minimum deposit of $50,000 is required to open a Term Deposit for less than 3 months.

 

Funds are fixed and cannot be withdrawn until the term has expired.

 

Interest is calculated daily and paid on maturity and can be paid directly to an account or compounded and added to the

term deposit.

 

The TCU Board at its discretion may refund Term Deposits before maturity for a valid reason, on 7 days notice in writing. If

an amount is paid before maturity the interest rate applied will be that currently applied to Savings Accounts (S1).

 

Fees and charges apply.

 

Refer to our Product Disclosure Statements brochure for full details.

 

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30 Day at Call

 

If you would like to earn a higher interest rate than you would on an everyday account but can’t commit to the fixed period of a Term Deposit then a 30 Day At Call Account may be the answer. This account locks your funds away for 30 days then allows them to be accessed only through phone or internet banking or by visiting a branch after the initial period.

 

IMPORTANT INFORMATION

 

Funds are at call after initial 30 days.

 

Funds can be withdrawn within the 30 days, with 7 days notice in writing.

 

An interest penalty will apply if funds are withdrawn early.

 

A $500 minimum opening balance required.

 

A minimum $500 daily balance required to earn interest.

 

Unlimited 24 hours 7 days a week access via

-- Phone Banking

-- Online Banking

 

There is no CUECARD or cheque book access available.

 

Interest rate is tiered.

 

Interest is calculated daily and credited quarterly.

 

Fees and charges apply.

 

Refer to our Product Disclosure Statements brochure for full details.

 

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Traditional Credit Union Limited ABN 50087650922 Australian Financial Services Licence/Australian Credit Licence 244255 BSB 704 062