As many Members would be aware, the Club has operated a Member Investment Scheme for many years. This enables Members to deposit funds with the Club much like you would with a bank.
This option is still available to members.
Given recent reductions in interest rates the Committee has revised the interest payable on member investments. It is currently 2.0% which is reviewed 6 monthly at the end of June and December.
Member investments can start from $5000 with members receiving interest quarterly. The interest can be directly credited into your preferred bank account or offset against your membership subscriptions. If you wish to withdraw funds from your investment you can do this at any time by advising the Club in writing.
The Club remains in a strong financial position with manageable debt levels. Member investments enable the club to further reduce our debt while paying interest at a lower cost than interest rates charged by the bank. This provides good returns for members and is a saving for the club.
Should you wish to invest in the scheme or have any questions please contact Barry Linke on 8355 7100