Savings & Investments

New legislation was passed in November 2008 enabling money from ‘dormant accounts’ to be paid into a central fund that is to be used for good causes. The definition of a dormant account is one that has had no customer initiated activity for fifteen years or more. The number of customers affected is actually very small. We have identified that less than 1% of our customers are affected and their combined balances are only 0.017% of the total savings balances held with the Society.

Important Facts

• Ownership of money always remains with the customer or their beneficiaries, regardless of whether the funds are paid away or how much time passes. Cash can always be reclaimed.
• The Society is committed to making contact with as many affected customers as possible to reunite them with their funds. We are stepping up our reunification campaign this year, as it is a priority to find our customers who have lost touch with us.
• Customers with accounts identified as “dormant” will retain full membership rights (where applicable), even if funds are paid away.
• If funds are paid away, and subsequently the account is reactivated, this will have no customer impact. Customers would continue to deal with the Society directly to reactivate an account.
  

What do I need to do?

If you have an account with the Society and you are regularly in touch and have kept us informed of your current details, you don’t need to worry. This only affects accounts where the customer has not initiated any activity on their account for 15 years or more.

However, if you think you may have a lost or forgotten account with us, please click on the link below to our lost account enquiry form, and we will look into whether you have an account with us.

The above Enquiry Form will open a PDF, to view this you need to have Adobe Reader installed on your PC. You can download this program free of charge at www.adobe.com or via the icon below.