Important Notice

Commencement of Australian Financial Services Licence

On 23^rd January 2004 Queenslanders Credit Union’s Australian Financial Services Licence commences. All financial service providers – credit unions, banks, building societies, insurance companies, superannuation entities to name but a few – must operate under this Licence by 11 March 2004.

The Australian Financial Services Licence imposes new obligations on financial service providers, principally that they carry on their financial service business ‘efficiently, honestly and fairly’. The Licence also imposes new disclosure obligations on financial service providers, such as the Credit Union.

To meet these new disclosure obligations we have consolidated all our deposit and investment accounts and access facilities into a single financial product giving members automatic access (subject to conditions) to all our deposit and investment accounts and access facilities such as:

Our new disclosure documents are:

• a Financial Services Guide outlining the services we provide under our new Licence;
• a Product Disclosure Statement for our new single product – the Queenslanders Credit Union Account & Access Facility.

Our Financial Services Guide takes effect on 23^rd January 2004.

Our Product Disclosure Statement contains important information about:

• our deposit and investment accounts;
• our access facilities, such as member chequing facility, Redicard, Visa Debit Card, telephone and internet banking, BPAY, and direct debit facilities;
• important consumer information about the operation of these accounts and access facilities;
• conditions of use for all our deposit and investment accounts and access facilities;
• our fees and charges.

The Product Disclosure Statement applies to all your existing accounts and access facilities in the list above, 30 days after you receive this notice. However, if you have an existing term deposit account, the Product Disclosure Statement will only take effect on expiry of the current term. When the Product Disclosure Statement takes effect, it replaces all previous terms and conditions for these accounts and access facilities.

We strongly recommend that you keep our Product Disclosure Statement for the Account & Access Facility for future reference.

You do not need to do anything as there is No change to your day to day banking arrangements. This is a notification only.

Our new single product – the Queenslanders Credit Union Account & Access Facility – and its Product Disclosure Statement, DO NOT change any of your current day to day banking arrangements:

• your account numbers stay the same;
• there is no need to review direct debit, salary deposit or periodical payment arrangements.

Queenslanders Credit Union Account & Access Facility Product Disclosure Statement

The Queenslanders Credit Union Account and Access Facility Product Disclosure Statement is made up of three brochures:

• Account & Access Facility
• Fees & Charges & Transaction Limits
• Summary of Accounts & Availability of Access Facilities

Together these three brochures form the Product Disclosure Statement for the Queenslanders Credit Union Account and Access Facility.

	Account & Access Facility (308kb)
	Fees & Charges & Transaction Limits (240kb)
	Summary of Accounts & Availability of Access Facilities (159kb)

Financial Services Guide

Financial Services Guide (177kb)