Types Of Saving Accounts

MMCB Types of Accounts

Saving Matters (Share Account)

  • This account is the primary savings account for a member, it was formerly know as the Share Account.
  • Money cannot be transferred out of the credit union from this account, money would first need to be transferred to the Money Matters Account.
  • Balance will appear via online banking and app.


Young Saving Matters (Junior Saving Account)

  • This is the account provided to members under 18 years of age. If a Junior member has a debit card it will draw on this account.
  • Balance will appear via online banking and app.


Money Matters (Transaction Account)

  • The is the members transaction account, this is the only account that can utilise the option transfer money out of the credit union.
  • Where the member has a loan, the repayment for the loan will be drawn from this account in the first instance. If money is not available in this account, the funds can be drawn from another account to cover the payment.
  • Balance will appear via online banking and app.
  • This is the account that a members debit card will draw on.


Christmas Matters (Christmas Club)

  • This account allows the member to save during the year with the money being transferred to the members Money Matters Account in the last week in November.
  • The account is locked and members cannot access the funds until the last week in November. If a member requests to have their fund released due to economic hardship during the year, a member of the Team will manually transfer the funds to the members Money Matters Account.
  • Money cannot be transferred out of the credit union from this account, money would first need to be transferred to the Money Matters Account.
  • Balance will appear via online banking and app.


Wedding Matters

  • This account allows members to save for a period of time, with the funds being transferred to their Money Matters Account at the end of the period.
  • The account is locked and members cannot access the funds until the term date. If a member requests to have their fund released due to economic hardship before the term date, a member of the Team will manually transfer the funds to the members Money Matters Account.
  • Balance will appear via online banking and app.


University Matters

  • The account is locked and members cannot access the funds until the last week in November. If a member requests to have their fund released due to economic hardship during the year, a member of the Team will manually transfer the funds to the members Money Matters Account.
  • Money cannot be transferred out of the credit union from this account, money would first need to be transferred to the Money Matters Account.
  • Balance will appear via online banking and app.


Baby Matters

  • The account is locked and members cannot access the funds until the last week in November. If a member requests to have their fund released due to economic hardship during the year, a member of the Team will manually transfer the funds to the members Money Matters Account.
  • Money cannot be transferred out of the credit union from this account, money would first need to be transferred to the Money Matters Account.
  • Balance will appear via online banking and app.


Home Deposit Matters

  • The account is locked and members cannot access the funds until the last week in November. If a member requests to have their fund released due to economic hardship during the year, a member of the Team will manually transfer the funds to the members Money Matters Account.
  • Money cannot be transferred out of the credit union from this account, money would first need to be transferred to the Money Matters Account.
  • Balance will appear via online banking and app.