For Depositors
At-Call
Deposits
Foodstuffs
South Island Limited accepts At-Call Deposits from its trading
members and associated people. This money is deposited with us in
interest bearing accounts and is always available at-call. These
deposits are used across the co-operative to supplement long-term
funding provided by our members or other third 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 7 June 2017). This 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 and the application form for At-Call Deposits is
online at the New Zealand Companies Office, click here to
access.
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 third parties who have a close
association with FSSI or its members. We do not, as a rule, take
deposits from the general public.
Withdrawing
your At-Call deposit
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.
Interest
rate on At-Call Deposits
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 8 June 2017 (both rates decreased by
0.10% respectively)
If
you have any queries regarding the above, please contact
Foodstuffs
Securities
Freephone: 0800 688 887
