- Do I have to be a member to open a term deposit?
- How much do I need to deposit to open an account?
- How do I make withdrawals from my account?
- What happens at maturity?
- How often will I receive information on my account?
- What if I want to invest longer than 24 months?
Do I have to be a member to open a term deposit?
The Credit Union is a mutual financial services organisation and as such is owned by its members, each one of whom is a shareholder. Therefore we require that you must be a member of the Credit Union to open a term deposit. Learn about the benefits of becoming a member. ^
How much do I need to deposit to open an account?
You can open an account with a minimum of $1,000 (or $500 for members 18 years and under). ^
How do I make withdrawals from my account?
Your funds are available at the end of your chosen term. At the end of your chosen term you can pre-arrange to withdraw your money either by cheque or by transfer to an existing account with LCU or another financial institution. ^
What happens at maturity?
At maturity you can:
- Automatically re-invest your funds for another term;
- Add extra funds;
- Withdraw all or part of the funds. ^
How often will I receive information on my account?
Statements are issued monthly or every three months as required. Duplicate statements can be requested at any time from our office.
Account balances and statements are also available through our Internet and telephone banking services. ^
What if I want to invest longer than 24 months?
If you are in a position to invest for longer than 24 months, you may wish to consider alternative or complimentary investments that offer additional advantages. We have friendly financial planners who would be happy to discuss your long term options with you. Please contact us to arrange a meeting at your convenience. ^
More Information
Apply
Apply for a term deposit 
Questions?
If you have any questions, please contact us 
