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Term Deposit FAQs

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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.

Eligibility to join the Credit Union is available to the employees (and their families) of; Essential Energy, Any Local Government Council (or Authority), any State Government Department (or Authority including Health Care, Ambulance and Fire), any Federal Government Department (or Authority), Australia Post or Telstra residing in NSW or ACT, Auscott Ltd, Macquarie Credit Union Limited (incorporating Essential Energy Credit Union and PostTel Credit Union) and anyone who resides in the Dubbo Local Government Area.

Learn about becoming a member. ^

How much do I need to deposit to open an account?

You can open an account with a minimum of $500. ^

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 prearrange to withdraw your money either by transfer to existing accounts, over the counter at our office, or cheque withdrawals via fax. ^

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 Phone banking services. ^

What if I want to invest longer than 12 months?

If you are in a position to invest for longer than 12 months, you may wish to consider alternative or complimentary investments that offer additional advantages. At the Credit Union 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


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