For a full list of fees for Our Steelsands Members please Click Here
For Our NZCU Employees Members Click Here for Rates and Fees
Interest is calculated each day on the account balance at the end of the day. For accounts with tiered interest rates (currently only the Goal Saver account), the rate of interest that applies on a day is the tiered rate for the end of day account balance. Interest is paid to accounts monthly, except for Christmas Saver accounts where interest is paid each year on 31 October.For Christmas Saver accounts, the interest rate includes a loyalty bonus but is not eligible for a bonus dividend. Goal Saver accounts are eligible for a bonus dividend in addition to interest, if paid. Interest rates are subject to change at any time, without notice to members.The maximum amount that can be deposited with Steelsands is $100,000 per member.Effective 1st June 2022
All Interest rates quoted apply to the whole balance and may alter at any time
| Everyday Accounts | |
| S1, S2, S3 & S4 (Transactional Accounts) | 0.00% p.a.* |
> Unlimited transactions permitted.
> Interest calculated on the daily balance and paid monthly.
> Account eligible for annual bonus interest.
> $5 monthly account management fee (if this is your main account)
| Goal Saver | |
| $0 - $ 999 | 0.05% p.a.* |
|
$1,000 - $4,999 |
0.10% p.a.* |
| $5,000 + | 0.25% p.a.* |
> Interest is calculated daily based on the end of day account balance and the interest rate applying to that balance
> Interest is paid monthly
> Account eligible for annual bonus interest
> $5 monthly account management fee (if this is your main account)
| Loan Provider | |
| Funds held for loan security (whole balance) | 0.25% p.a.* |
> Interest calculated daily and paid monthly
| Christmas Saver | |
| Whole Balance | 0.80% p.a.* |
> Save by regular deposits to account. No Lump sum deposits permitted
> No Withdrawals Permitted.
> Interest calculated daily, paid annually on 31 October.
> Funds are available for withdrawal between 1 November to 31 December.
> Interest Rate includes loyalty benefit. Not eligible for bonus dividend.
| Jimmy J Junior saver (ages 0-11 yrs) | |
| Whole Balance | 0.80% p.a.* |
> No minimum balance.
> Interest calculated daily and paid monthly.
> Birthday card and deposit of $5.00 to account with regular deposits
> Membership Certificate for New accounts.
> Not eligible for bonus dividend
* Interest is calculated each day on the account balance at the end of the day. For accounts with tiered interest rates (currently only the Goal Saver account), the rate of interest that applies on a day is the tiered rate for the end of day account balance. Interest is paid to accounts monthly, except for Christmas Saver accounts where interest is paid each year on 31 October.
For Christmas Saver accounts, the interest rate includes a loyalty bonus but is not eligible for a bonus dividend. Goal Saver accounts are eligible for a bonus dividend in addition to interest, if paid. Interest rates are subject to change at any time, without notice to members.
The maximum amount that can be deposited with Steelsands is $100,000 per member
| Account fees | |
| Goal Saver |
Unlimited transactions using Internet Banking $5 Monthly account management fee if this is your main account |
| Jimmy J Junior Saver | Unlimited transactions using Internet Banking |
| Everyday account |
Unlimited transactions using Internet Banking $5 Monthly account management fee if this is your main account |
| Dishonoured Automatic Payments (AP) & Direct Debits (DD) | |
| $0.00 | Inwards (dishonoured by bank) |
| $7.50 | Outwards (dishonoured by NZCU) |
| $0.00 |
Rejected external APs (first is free) |
| Dormant Accounts | |
| $3.00 | Dormant account monthly fee |
| ACCESSCARD® & AccessDebit card fees | |
| PaypassTM Tap & Go for purchases $80 and under (AccessDebit only) | maximum of 5 transactions per day to a maximum of $150 |
| ATM - Maximum Cash withdrawal amount per day (including overseas) | $ 1,500 |
| EFTPOS - Maximum purchase amount (including overseas) | $10,000 |
| Overseas transactions | |
| Overseas ATM withdrawal - AccessDebit Card |
NZ$5.00 |
| Overseas Eftpos transaction, Enquiry and Declines | NZ$0.80 |
| AccessCard multi currency conversion fee (applied at the prevailing buy rate by Mastercard®) |
1.10% |
| AccessDebit foreign currency fee (on the NZ$ value of the transaction) | 2.25% |
| Overseas Transactions - only available where the Mastercard label is displayed | |
| Service fees | |
| ACCESSCARD New & Replacement cards |
$6.00 |
| AccessDebit New and Replacement card |
$6.00 |
| AccessDebit Voucher Search Charges | $57.50 per disputed transaction |
Effective 24th September 2021
Personal loan fees
| Personal Loan Approval | $150 | |
| Third Party Charges (vehicle check, redbook valuation and registering security over vehicle) | $33.50 (cost for one vehicle only) | |
| Loan Provider Account (opened for loan payments) | $5 monthly account management fee (if this is the main account for member) |
| Home Loan | |
| Floating | 5.45% p.a. |
> Other rates may apply depending on your personal circumstances and level of equity.
> Interest rates are indicative only and may be subject to change without notice.
Effective date: 30th March 2020
Home loan fees
| Home loan - approval | $250 |
Other charges
Where the Credit Union incurs a charge from another organisation when acting on a customer’s behalf including credit checks, legal costs and disbursements or costs associated with the registration of securities, the Credit Union will pass these costs on to the customer. Due to the nature of these charges the exact cost will not be known until the time of application. If you would like further information about these possible charges please contact us on 0508 692 848.
| Overdraft type | Interest rate |
| Secured | 11.50% p.a |
| Unsecured | 14.00% p.a. |
> These are indicative rates only and may be subject to change without notice.
Overdraft fees
| Approval | $50 |
|
Term |
Interest rate |
| 3 months | 0.40% p.a. |
| 6 months | 0.80% p.a. |
| 12 months | 0.90% p.a. |
Effective 24th September 2021
>Interest is calculated on a daily basis and paid at maturity. Interest can be paid to a nominated account monthly. For deposits of 6 months and over, interest can be
compounded quarterly.
> Investors are advised of their options prior to maturity.
> Maximum deposit $100,000 per member.
> Minimum deposit is $1,000
> These are indicative rates only and may be subject to change without notice.
> Where a term deposit is withdrawn prior to the maturity date, the break rate fee will be the agreed Term Deposit Interest Rate at time of application less the Term Deposit Break Rate.
The current maximum break rate to be applied is 1%
e.g. Original investment 12 months 3.5% less 1% leaving 2.5% as the interest rate applied.
Early withdrawals will only be considered for genuine hardship.
