This service makes receiving money from your Credit Union even easier.
If you collect a loan OR withdraw money from your savings, we can issue either cash or a cheque and are now able to offer you a third option – Electronic Funds Transfer!
This is a system by which we can transfer funds DIRECTLY to, either your bank account, or another bank account of your choice, e.g. to pay a bill. The funds will be in your account, and available to you, within 2 working days of the transaction so, if, for example, you request a savings withdrawal on a Monday, you can draw this money from your bank on Wednesday.
Advantages of EFT?
- There is no need to collect cash anymore which can be lost or stolen. This improves the safety of the transaction for Members.
- Where the transaction is too large for cash, we issue a cheque. This must then be brought to the bank, lodged, and can take at least 3 days to clear.
- With EFT your money will be available to you within 2 days.
This great service is available from your CU now! Please call us or visit us for more details.