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How your Credit Union savings and investment accounts work.
Each share (one share is equal to £1) is eligible for a dividend at the end of the financial year (1 October to 30 September) - members are reminded that the dividend is paid gross and tax responsibility lies with the member. You can save up to £10,000. All Savings are fully insured and secure.
Benefits of Credit Union Savings
- Dividend paid on all savings - last 2 years have produced a return of 3.29%
- Members savings are protected by free life savings insurance.
- Easy access to your savings if you wish to make a withdrawal (if not pledged against loan).
- No hidden charges or fees on any transactions.
- Easy way to save through automatic payroll deduction, direct debit or by having a benefit paid in.
- Lump sum deposits taken.
- Cheque payments are accepted into your account. (Please note that for members and staff security we do not accept cash payments in the office and no cash is held in our offices)
You can make a deposit into your 6Towns Credit Union Account at the following locations:
6Towns Credit Union 382 High Street, West Bromwich Tel: 0121 553 3110
Sandwell Homes Offices
WEDNESBURY 41/42 High Bullen, Wednesbury Tel: 0121 569 6000 HAWTHORN FIELDS St. Vincents Crescent, West Bromwich Tel: 0845 1110022 TIPTON Sheepwash Lane, Great Bridge Tel: 0121 569 6000 PRINCESS END High Street, Princess End Tel: 0121 569 6000 CRADLEY HEATH St. Annes Road, Cradley Heath Tel: 0121 569 6000 BLACKHEATH Paynes Street, Blackheath Tel: 0121 569 6000 STONE CROSS Clifton Lane West Bromwich Tel: 0121 569 6000 BEARWOOD Reginald Road, Smethwick Tel: 0121 569 6000
** Please note that no withdrawals are available from the Sandwell Homes offices
Other locations where you can make a deposit or open a 6Towns Credit Union Account
St Albans Community Centre St Albans Road, Smethwick, West Midlands B67 7NL Tel: 0121 588 0018 ext 1 Open Friday Mornings from 10.00am the 13th September 2010. Website: http://www.stalbans-cc.co.uk/
Withdrawals
Members can withdraw their Credit Union savings provided they are not pledged as security for a loan.
- Your savings can be sent via BACS to your bank or a cheque will be made available to you.
However, as far as possible, members are encouraged to keep their savings intact, thus ensuring:
- your savings continue to earn a dividend
- you continue to benefit from Life Savings Insurance Protection at no cost to the member (terms and conditions apply including 6 months pre-existing condition limitation);
- your borrowing power is maintained.
Cash your cheque at a Post Office
We have set up the facility to cash your cheque at a number of Post Offices.
Once you have collected your cheque from our West Bromwich office, 6Towns Credit Union have an arrangement with The Co-operative Bank for you to cash your cheque, Free of Charge, at the following Post Offices.
You MUST take some form of indentification with you for your own security.
Carters Green Post Office - B70 9QP Hill Top Post Office - B70 0RU Bromford Lane Post Office - B70 8AJ Crankhall Lane Post Office - WS10 0ED Coronation Road Post Office - WS10 0TJ Wednesbury Post Office - WS10 7AS Great Bridge Post Office - DY4 7HF Ocker Hill Post Office - DY4 0EU Prince's End Post Office - DY4 9JE Langley Post Office - B69 4SN Oldbury Post Office - B69 4DS Rounds Green Post Office - B69 2EB Oldbury Road (Smethwick) - B66 1JG Cradley Heath Post Office - B64 6AQ Blackheath Post Office - B65 0DS Yew Tree Post Office - WS5 4LB
PLEASE NOTE: The Co-operative Bank and Post Offices reserve the right to refuse to serve anyone that may be abusive or offensive.
Pre-paid MasterCard
Plans are underway to offer the Pre-paid MasterCard to members. (Date to be announced)
The Pre-paid Card can pre-loaded with your money and will allow you to use it in any shop that accepts MasterCard. This means that you no longer would have to come into the office to collect your Cheque. PLEASE NOTE: This will only be available to Members that have a registered email address with 6Towns Credit Union. The registered email address will be used as authorisation to request additional funds to be loaded on to your card. This is for security reasons and therefore NO requests will be accepted via the telephone. There are no exceptions to this rule. Any loss of the card and subsequent transactions using your email will be card owner's responsibility and not the responsibility of 6Towns Credit Union. Our systems are set up to identify any fraudulent transactions and will automatically notify the relevant authorities or the Police.
This card is not free to administer and Charges will be announced shortly.
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08 September 2010
