Did you know that U.C.I.S has nearly 30 different types of savings and investment options?

Some of these are special purpose. Some depend on what type of client you are. Some depend on the access or interest rate options you select.

It’s about time we admitted that there’s no need to get so complicated for a few small differences.

The good news? From 1 January 2010, U.C.I.S is getting back to basics when our savings and investment options drop to three.

No matter who you are, or how much you invest, you can have:

• a Cash Manager
• a Fixed Term investment
• a Mutual Support investment.

And while it looks like a big change, there’s no need to worry. Your cross reference number will stay the same. Your client number will stay the same. Existing periodical payments won’t be affected.

What might change?

• Depending on your current options, your interest rate tier could change. This is likely to be reflected in a higher variable interest rate.
• There’s no minimum $20,000 investment for a Cash Manager product. Every dollar makes a difference.
• Again, depending on your current options, your interest payment and statement frequency could change.
• Your access options will remain as they are now, but other options may now be accessible, such as transacting on your investment with NetConnect.
• If you earn interest on your Mutual Support investment (which supports a credit or loan scheme) you’ll no longer have this option.

Click here to see a summary of the investment features.