Eligibility to open a term deposit account

SERVICE ONE Members Banking is a mutual financial services organisation and as such is owned by our family Members, each one of whom is a shareholder. Therefore, when opening an account you must also become our Member.

How much do I need to deposit to open an account?

You can open an account with a minimum of $500.

How do I make deposits to my account?

You can make deposits to your term deposit account over the counter by either direct deposit or transfer from your savings account. Transfers will also be accepted by fax or letter.

How do I make withdrawals from my account?

Your funds are available at the end of your chosen term. At the end of your chosen term you can prearrange to withdraw your money either by transfer to existing accounts, over the counter at one of our conveniently locateed Branches, or cheque withdrawals via fax.

What happens at maturity?

At maturity you can:

• Automatically re-invest your funds for another term.
• Add extra funds.
• Withdraw all or part of the funds.

How often will I receive information on my account?

Statements are issued monthly or six monthly. Duplicate statements can be requested at any time. Account balances and statements are also available through our Internet and telephone banking services.

What if I want to invest longer than 60 months?

If you are in a position to invest for longer than 60 months, you may wish to consider alternative or complimentary investments that offer additional advantages. At SERVICE ONE, we can refer you to a certified financial planner who would be happy to discuss your long term options with you. Please contact us to arrange a meeting at your convenience.