New Easterhouse Credit Union

Terms & Conditions

• All members of New Easterhouse City Credit Union must hold a Membership Account
• A Membership Account may be opened by completing a Membership Application Form and by providing appropriate identification documents
• You must maintain a minimum balance of £5 to retain membership and access other services
• Your Membership will commence from the date of the first deposit, which may be by cash, cheque, payroll deduction, or by Bank Standing Order
• The minimum savings requirement for waged members is £3 per week or £13 per month
• The minimum savings requirement for unwaged members is £1 per week or £5 per month
• You may make lump sum deposits at any time, either by transfer from any other NECU account or by cheque, cash or electronic transfer
• You may make unlimited withdrawals, subject to the terms of any loan or other service. Notice of withdrawal must be made on the appropriate withdrawal form or via NECU’s Website
• An annual dividend will be paid, gross of tax, on all sums deposited, subject to NECU making sufficient profit / trading surplus
• The Dividend rate will be determined by the Board of Directors and ratified by the members in Annual General Meeting. Any Dividend due will be paid to the account within two weeks of the Annual General Meeting
• The Dividend may be withdrawn or transferred to another NECU account without penalty
• Any request to close the account must be made in writing, giving 7 days notice. All other NECU savings accounts will terminate on closure of the Membership Account