Eligibility:

■ Term Deposit Accounts are open to new and existing Members. 
■ New Members will need to go through the Identification Process before we can accept the deposit. 
■ They will be offered for new deposits and renewed only at times agreed by the Board of Directors.  



Amount:


■ Investments are made via a single deposit which cannot be added to during the year. 
■ Balances in these accounts cannot be used for obtaining loans and will receive interest not dividend. 

Interest:

■ Interest will be paid at a rate advertised by the credit union. 
■ Interest is calculated daily and paid gross, at the end of the term, on the first working day following the 31st of March. 

Deposits and Withdrawals:

■ Investment is made via a single lump sum deposit and cannot be added to during the term. 
■ Withdrawals are not allowed. 

Renewal:

■ The investment is for a specific term. A decision on whether to offer renewal for a further period will be made by the Board of Directors at the end of the term.  
■ If not renewed the funds will be paid back into your Regular Share Account 

Closure:
 
■ Enterprise Credit Union retain the right to close this account subject to 30 days’ notice and funds will be returned to the Member or paid into the Regular Saver Account. If closed by Enterprise, interest up to date of closure will be paid. 
■ The Member can close this account by giving 30 days’ notice and the whole balance can be withdrawn or transferred into a Regular Savings Account. No interest will be paid if the account is closed early. 

Protection:
  
■ Life cover is provided on savings held with Enterprise Credit Union Limited which will double the value of savings across all accounts, up to a maximum of £15,000, limited to 100% age 16 - 64  and 25% age 65 - 79 . Terms and conditions apply. 
■ This deposit is protected by the Financial Services Compensation Scheme. An information sheet and exclusion list is attached and can be obtained from any branch upon request. 

Data Protection:

■ We are a Data Controller registered with the ICO under reference Z5075264. 
■ Our Privacy Notice is on our website and a copy is available from any Branch on request.