|
CHRISTMAS SAVINGS PLAN ACCOUNT
Earn 5% per annum credited monthly
This Christmas Savings Plan is a product designed for members to have sufficient funds to meet all their Christmas expenses.
The members contribute monthly towards this account and at the same time earn high interest monthly. With this in mind, your savings will be growing as the interest is compounded in order to meet your Christmas needs.
DURATION OF THE ACCOUNT
The account is continuous, with cycles of one year.
The period runs from November in one year to October the following year, and the cycle will resume from November.
WHEN WILL I RECEIVE MY FUNDS?
All funds invested during the period (November to October) plus interest will be paid to you by the third week in November.
HOW IS THE INTERESTED CALCULATED?
Interest is calculated on the monthly balance.
The gross interest together with all your contributions will be paid to you – there are no hidden charges.
HOW MUCH CAN I CONTRIBUTE?
Minimum contribution of fifty dollars ($50.00) per month. The more you save, the more interest will be earned and the more you will have to spend for Christmas. A fixed monthly payment is recommended.
HOW CAN I PAY INTO THIS FUND?
Here are several methods for you:
1. Just fill out a Deduction Authorization Form and we will credit your account with the amount received.
2. Standing orders from banks or other places of employment can also be used to contribute in the account.
3. Over the counter payment using bank cheques/cash can also be used.
4. Periodic transfer from your deposit accounts.
HOW DO I OPEN AN ACCOUNT?
This is simple, all you have to do is to complete the application form for the plan together with the Deduction Authorization form and submit to the Credit Union Office. Application forms are also available from your Liaison Officer.
WHAT ABOUT WITHDRAWALS?
To gain maximum benefit from the account, we advise that members retain their contributions until the end of the period.
However, in special circumstances withdrawals can be made during the period but this will affect the amount of interest earned and the amount of funds available for your Christmas shopping.
Ensure a brighter and
Worry-free Christmas.
JOIN NOW!!
|
