What is the Membership Relationship Reward Program?

The Membership Relationship Reward Program was designed to reward members for supporting their Credit Union by using the Credit Union's products and services.

Each Month, members are allocated a Relationship Reward based on the total average balance of their loans, savings and investment accounts (called the Credit Union Relationship) during that month, under a single membership number.

Eg. Mr & Mrs Smith (Membership #1234)

Your total Transaction Fees for the month are automatically reduced by the amount of the Relationship Reward you have accrued during that month.

1. When your total Transaction Fees exceed the amount of your Relationship Reward, your account will be debited only for the variance.

2. When your total Transaction fees are equal to or less than your Relationship Reward, you will pay no Transaction Fees.

Note: Relationship Rewards are calculated on a monthly basis, surplus rewards are not redeemable and do not carry over to the next month.

How the Membership Relationship Reward Program works:

1. Calculating your Credit Union Relationship

You receive a monthly reward based on the total average daily balance of your loans, savings and investments over the month.

This is called your Credit Union Relationship, see the example below for Mr & Mrs Smith.

MR & MRS SMITH #1234
Accounts	Amount ($)
Savings Account	500
Home Loan	n/a
Car Loan	2,000
Christmas Club	600
Term Deposit	n/a
Total	$3,100
Credit Union Relationship Total	$3,100

2. Calculating your Reward

The total of your Credit Union Relationship determines the amount of your monthly Relationship Reward.

Credit Union Relationship	Relationship Reward
$0 - $499.99	$0.00
$500 - $999.99	$3.00
$1,000 - $4,999.99	$10.00
$5,000 - $19,999.99	$15.00
$20,000 - $49,999.99	$25.00
$50,000 +	$30.00

Example continued:
From the above example of Mr & Mrs Smith we can now work out that their Relationship reward is $10.00, as their Credit Union Relationship Total is $3,100 which fits into the $1,000 - $4,999.99 bracket.

Using your Relationship Reward
Relationship Rewards help you to offset the cost of withdrawal transactions, in many instances assisting you to avoid fees.

3.Calculating the cost of your monthly transactions
Calculate your monthly transaction cost by multiplying the number of transactions you have made by the cost of the transaction.

Withdrawal Transaction	No. Transactions	Cost per Transaction	Total
Corporate Cheques	1	$3.50	$3.50
ATM at Credit Union's Rediteller	4	$0.80	$3.20
EFTPOS	6	$0.65	$3.90
Member Cheques	4	$0.75	$3.00
Total Fees			$13.60

4. Your Relationship Reward working for you

The last step is to subtract your Total Fees from your Relationship Reward.

Again as in the example of Mr & Mrs Smith we know their Relationship Reward was $10.00 & their Total Fees was $13.60, thus:

$10.00 - $13.60 = -$3.60

5. Do I have to pay?

If your Relationship Reward is less than your total fees you will be required to pay the excess amount.

Where your Relationship Reward is greater than or equal to your total fees: you are not required to pay any transaction fees.

With the example of Mr & Mrs Smith you would pay $3.60 fees.