Term Deposit

If you want your savings to grow, and don’t need instant access to your money then this is the account for you.

Term deposits are ideal for money to live on, to save for your children’s education, deposits for a house or car, holiday, and last but not least your retirement.

By locking your funds in for a fixed term, you can earn a higher rate of interest that is guaranteed for the term of the investment.

All you need is $2,000 or more to invest for 3, 6, 9, 12 or 24 months and you’re ready to enjoy great returns.

Term and Interest Options

We have a number of investment options available, so you can choose a plan that best suits you.

Click here for our current interest rates and investment options available.

(Please note: Rates for investments greater than $250,000 are available upon request).

What happens at maturity?

When your term deposit is about to mature, you will be given the following options:

• Renew your investment for another term of your choice. You can also increase or decrease your term deposit at this time as well as reinvest interest earned.
• Transfer to your Credit Union savings account
• Transfer to your bank, building society or other Credit Union account
• Payment by cheque

If we do not hear from you, we will automatically reinvest your funds for the same term or plan as the maturing deposit at the interest rate available on the day the investment matures. You can make changes to your term deposit up to 7 days after the maturity date.

Early Termination

If we allow you to withdraw your funds before the maturity date, you may lose some of your interest.

Getting Started

Simply download a Term Deposit Application or open a Term Deposit online using our Internet Banking service.