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For Depositors

At-Call Deposits

Foodstuffs South Island Limited (FSSI) accepts at-call deposits from its Trading Members and associated persons (not themselves being Trading Members) to have funds on at call, interest bearing deposits. These deposits are used by the Co-operative to supplement long-term funding provided by its members or 3rd parties (e.g. Trading Banks) for working capital and infrastructure assets investment.

The deposits are issued under a registered Product Disclosure Statement or "PDS" (Latest registered PDS date 10th November 2016) which sets out in detail the relevant terms and conditions. The PDS also set out the process on how to register a complaint you may have with either the offer or the investment of at-call deposits.

A copy of the PDS may be obtained from the Securities Registrar, Neil Little (see contact details below) or online at www.business.govt.nz/disclose. Supporting documents relating to the offer of at-call deposits, including an application form can also be found online at www.business.govt.nz/disclose.

Please note: While FSSI may take deposits from members of the public it is our policy to generally only open new accounts for members, staff or other 3rd parties who have a close association with FSSI or its Members. We do not, as a rule, take deposits from the general public.

There is no minimum or maximum term for deposits however they may not be redeemed sooner than 24 hours after acceptance of the deposit. Any requests for same day withdrawals require notification by 2.00 pm.

The at-call deposits are interest bearing, with interest calculated daily and paid annually in arrears at the end of February each year.

The current interest rate for depositors is 2.80%

Special interest rate for Members, Shareholders and Staff is 2.95%

These rates were last changed on 08th June 2017 (both rates decreased by 0.10% respectively)

If you have any queries please contact

Neil Little 
Securities Registrar 
Email address neil.little@foodstuffs-si.co.nz 
Free phone: 0800 688 887

 

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