#Unity credit union western way torrance full#

A 2% penalty interest is also deducted from the rate. The customer opted to invest their funds for 24 months at a rate of 2.55% p.a. After 6 months they decide to break the investment and withdraw the funds. As the actual period of the investment has only been 6 months, the rate applied is the 6-month rate as it was advertised at the beginning of the investment. If a sum was originally invested for a period of two years but was redeemed after six months, the interest rate would be calculated using the six-month rate as it was advertised at the time the account was opened, less 2%.Īt the time the customer invested their funds, the following rates were advertised: The penalty is a reduced interest rate which will be the advertised rate at the time the investment was opened, for the length of the time the money was invested (rounded down to the closest applicable rate), minus 2%. Early redemptions incur a penalty interest rate. If approved, customers are only eligible for one withdrawal per investment per term. Unity may approve an early withdrawal of funds from a term deposit. Founded in 1948, we’re proud to say UNIFY Financial Credit Union (UNIFY) is one of the nation’s leading credit unions with more than 4.3 billion in assets, over 260,000 members, and hundreds. Don't have internet banking? Then sign up here. If you are already a Unity member then you can apply for a term deposit through your internet banking. The applicable interest rate will not reduce below 0%.Īs published on .nz as at 19 October 2023.

#Unity credit union western way torrance full#

Where the deposit is withdrawn, in full or in part, before the maturity date but after the first 30 days, a reduced interest rate will be applied calculated using the advertised rate at the time the term deposit was opened, for the actual period of time the money was invested (as determined at our discretion), less 2%.If a term deposit is withdrawn, in full or in part, within the first 30 days, 0% interest will be applied to the withdrawn portion.If an early withdrawal is approved by Unity, a reduced rate of interest will apply as follows:.These are indicative rates only and may be subject to change without notice.Minimum deposit is $1,000 for members and $500 for members under 18 years old.Maximum deposit is $1.5 million per member.Investors are advised of their options prior to maturity.Interest can be paid at regular intervals (monthly or quarterly) or on maturity to any account of your choice.Interest is calculated on a daily basis.