About membership

Memberships

Our constitution allows us to accept and approve membership for natural persons and bodies corporate. Each approved member is required to subscribe to become a shareholder. Members who already hold a share may open additional memberships without being required to take out additional shares.

Members may open accounts in a single name, joint names, as a partnership account, trust account, or body corporate account.

Each account owner and each signatory to the account must be identified before the account is opened. You will be required to provide documents that verify your name, date-of-birth and address. Common verification documents include birth certificate, passport, driver's licence and Medicare card. If the account owner is a business we will also request documents to verify the business owners name. Staff at your local branch will be pleased to advise you on what is required.

We will ask for your Tax File Number when you open an account. You are not required to give it. However, by law, your failure to give your Tax File Number means that we must withhold a percentage of any interest you earn on the account - at present the government have set the Witholding Tax at 49%.

Applications

An application is required to be completed and signed for each new membership and for most accounts or services you may request for that membership. We reserve the right to refuse to approve an application.

Switch Accounts

Switching your banking to gmcu is easy, just follow these simple steps:

• Open an account at your local branch and arrange your access facilities like cards and internet banking
• Take note of any personal payees loaded to your Internet Banking elsewhere and load them into your gmcu Internet Banking
• Ask us to obtain an Account Switching Report from your old account showing all the direct payments processed through that account
• Talk to us about which payments you want redirected to your new gmcu account We will arrange for Direct Entry payments (credit and debit) which use your account number to be redirected.

We will also help set up new Periodic Payments for payments you make automatically from your account. If a Direct Entry payment uses your card number you will need to make new arrangements with the Direct Entry User.

If you have any questions please let us know: