Investor Account

MCU developed the Professional Investor Account (PIA) for members with larger sums to invest. The PIA has a 12 month maturity offering an interest rate aligned with the 90 day Bank Bill Swap reference rate. The interest rate is re-set each financial quarter. Interest is calculated on daily balances and paid on the last day of each financial quarter. Interest may be paid into the PIA or into any other nominated account. Access to the principal deposit before 12 months is at the absolute discretion of the credit union and if granted, interest paid or payable for the period of the investment will be halved.

Members may open subsequent accounts or secondary PIAs to permit members to use linked accounts so as to stagger maturity dates on a number of investments.

This investment product is offered at the discretion of MCU and may not always be available, please contact MCU for further information.

Features

• Interest Rate BBSW90 plus 0.25% (margin)
• 4.73% p.a. as at 31/12/2011
• Minimum Balance $100000
• Maximum Balance $500000
• Incremental Deposits $10000
• Re-set Dates July 1, October 1, January 1 & April 1
• Interest Dates July 1, October 1, January 1 & April 1

Deposits

• Transaction Accounts
• Investment Accounts
  • Cash Management
  • E Saver
  • Investor Account
• Term Accounts