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Reminder: Additional Permanent Share Contribution

  • Member Notices
26 Feb 2024
Reminder: Additional Permanent Share Contribution

We wish to remind all members (over the age of 18) of our notice sent on 4 December 2023, regarding the additional permanent share contribution and its implications for your membership with us.
Failure to satisfy the payment of the additional contribution of $75 will result in your membership not being in good standing. The Credit Union Rules clearly outline the definition of ‘good standing’ to be “a member whose accounts are not in arrears and not dormant and who is compliant with all the policies and procedures of the Credit Union, including the Security Policy, and is therefore eligible to vote, speak at general meetings of members, and earn dividends on shares.”
Next steps
To ensure your membership remains in good standing, kindly complete the brief survey by 5pm on 28 March 2024. Doing so, gives your consent for us to transfer $75 from your voluntary share or savings account, thus increasing your permanent shares to the required $100.

Your timely response is crucial in ensuring compliance with our regulations and maintaining the integrity of your membership.
However, if we do not receive your response by 28 March 2024, the additional $75 will be automatically deducted from your shares or savings account and transferred to your permanent shares, as mandated by our Rules. This is a one-time contribution.

The permanent shares contribution does not apply to youth accounts. 
Thank you for your prompt attention to this matter, and we look forward to your continued cooperation.

For additional information on permanent shares, click here