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
