special 5 month term deposit
Invest today with an eye to the future.
- competitive secure returns
- the more you invest, the less fees you could pay
- socially and environmentally responsible
- safe and secure investment
Special term deposit offer
Rates Effective 09/08/2010
Competitive secure returns
We offer secure, guaranteed rates of return with a choice of long and short term deposit options.
The more you invest the less fees you could pay
We understand that every cent counts so the more you invest with mecu, the more fee free transactions you are rewarded with.
Socially and environmentally responsible
mecu is respected in Australia and internationally for developing its sustainable and socially responsible approach to banking.
The process
Once your application for a Fixed Term Deposit has been approved by mecu, the following will occur:
- the fixed term deposit will be established within your membership and a Certificate of Deposit will be issued and sent to you
- two weeks prior to maturity date, a letter will be sent to you to notify you of your term deposit maturity. You will be requested to provide instructions for re-investment or redemption of the term deposit
- we will act upon your instructions. If we do not receive any instructions from you, the term deposit will be automatically re-invested at maturity, for the same term and conditions as previously invested, at the prevailing interest rate
Early Withdrawal Policy
By opening a Term Deposit with mecu, an agreement is entered into whereby the Credit Union agrees to pay a specified interest rate on the amount invested. Interest paid on principal amounts withdrawn early will equate to the percentage of the current term over the original agreed term. e.g. If the term deposit is held for 80% of the original term, 80% of the accrued interest will be paid upon early redemption. Any funds not redeemed will remain in the account until final expiry of the agreed term and will attract the full rate of interest as originally specified. Minimum retained balance is $500.
All interest rates quoted are annual percentage rates. Fees and charges may apply. Terms and conditions available on request.
Federal Government Deposit Guarantee
Deposits up to $1M are automatically guaranteed by the Australian Government under the Financial Claims Scheme free of charge. The guarantee is voluntary for deposits in excess of $1M and shall incurr a fee.
How to apply
To apply for a term deposit with mecu, simply download and complete the application and membership form (if you're not already a member), and post back to mecu Limited, Reply Paid 62272, Kew, VIC 3101. It’s that easy!
