Savings

Types of accounts available to members

S1 Primary Share Account

A simple savings account in which deposits earn interest and any dividend payments. Funds are available for withdrawal, if required, on the following basis.

Most withdrawals will be transacted on the day of the receipt of signed share withdrawal form, letter or facsimile. The Trustees reserve the right to impose a waiting period as set out in the rules of the New Zealand Fire Fighters Credit Union.

Prior notice for withdrawals of shares in excess of $2,000.00 is required as Trustee approval must be obtained.

Withdrawal proceeds will be paid by cheque, either forwarded to the member or credited to a nominated bank account. Please note that the New Zealand Firefighters Credit Union can not accept responsibility for any cheque clearance period imposed by the bank concerned.

S2 AccessCard Account

An account on which you have access to the funds at any time through EFTPOS or ATM machines. You will have a card which will carry your own personalized PIN number. Deposits earn interest.

S3 Bill Paying Account

This account offers a bill paying service for members who wish to be relieved of the hassle of paying regular accounts. No interest is paid on this account.

S4 Money Management Account

For members who find their financial circumstances are getting a little out of control, the Trustees offer an absolutely confidential service of assistance, where they will work with the member in an endeavour to overcome the problem. No interest is paid on this account.

S6 Loan Provider Account

The account used to hold the shares which represent 20% of a Standard Loan or an amount equivalent to 100% of an Instant Loan. This money earns interest and dividends but may not be withdrawn either in part or in full prior to full repayment of the relevant loan.

S7 Christmas Club Account

Christmas Club deposits can not be withdrawn throughout the year. The accounts are paid out in the first week of December each year along with their dividend. This account can not be used as collateral to borrow against, nor can a member put more into a Christmas Club account than is being put into Shares.
Generally no partial withdrawals will be allowed. If the funds are withdrawn before 1 December these funds will not attract interest.

S8 Special Savings Account

Special interest bearing savings account may be opened for any number of reasons. Why not approach us with a proposal of your own?

Term Investment Account

Members may deposit lump sums for a fixed period of six or twelve months and earn a higher rate of interest on their money.

Please note, whilst your shares remain in the term share account they cease to become collateral to borrow against.

Options are available as to how members may receive the interest they earn. Interest may be compounded on maturity of the deposit or it can be transferred to the members primary share account.

Should a member break the term of the investment a break rate will apply.

Current rates of interest are available at the New Zealand Firefighters Credit Union office.