Organisation and Corporate Deposit Account Terms and Conditions

1. 1. These terms and conditions apply to Community and Corporate Deposit accounts, hereafter referred to as Community accounts.
   2. Community accounts are only available to organisations based in Suffolk, Cambridgeshire, Norfolk, the North and Central Essex districts and any other geographic area defined in the ESLCU Rule Book.
   3. Any charges incurred arising from the use of services provided as part of the Community account maintenance fee will be deducted from the account at the end of each month.
   4. Organisations are required to provide signed copies of the authority to establish the account and for the Nominated Persons to operate the account.
   5. Withdrawal requests to third-party accounts must be submitted with a dual-signed paper withdrawal form alongside the relevant invoice. 
   6. If the organisation has indicated that two Nominated Contacts are required to authorise a transaction, no transaction will be enacted unless both contacts have approved the transaction via email to previously approved accounts for withdrawal.
   7. Organisations can email minutes with details of temporarily nominated contacts to provide a temporary substitute for periods not exceeding three months to allow for holiday cover, etc.
   8. The Primary Nominated Contact will receive notice of the credit union’s Annual General Meeting, and a nominated representative is entitled to attend as the representative of the organisation.
   9. The Primary Nominated Contact is the only person nominated to have view-only access to the account online.
   10. It is the responsibility of the organisation to advise ESLCU of any changes to details such as the operating name, address and contact information.
   11. Deposits made by Cheque will be credited after they have been cleared by our bank, which is normally within a maximum of 10 working days.
   12. ESLCU will process your data in accordance with the GDPR 2018 and we will only disclose information outside the credit union in accordance with Category F of our Consumer Credit Licence.
   13. Community accounts are provided subject to fair usage. This is defined by unlimited deposits and a maximum of four withdrawals via Faster Payment per three calendar months. The account is intended to be used by small community groups for the collection of annual subs and the payment of the occasional invoice. Usage outside of four withdrawals per three months, and high balance movement each month will cause the account to be closed. 
   14. Dividends may be paid on the share account annually, where approved by the Annual General Meeting in the year following the year in which a surplus has been generated.
   15. Prohibited Use for Gambling and Lotteries: The account must not be used for:
       • Lottery operations, prize draws, raffles or similar schemes where participation involves payment for the chance to win a prize.

       • Gambling‑related activity, including but not limited to betting pools, gaming clubs, or any activity regulated under the Gambling Act 2005.

       • Acting as a pass‑through account for third‑party gambling or lottery organisations.

   16.  To ensure fair access and operational stability, ESLCU may restrict,  decline or close accounts where activity includes:
       • High‑volume transactions inconsistent with typical community or charitable operations.

       • Activity resembling commercial payment processing, money service businesses, or financial intermediation.

       • Large‑scale fundraising schemes involving frequent incoming micro‑payments.

       • Acting as a collection or distribution hub for organisations outside the account holder’s own activities.

18. ESLCU reserves the right to request additional information about the nature of the organisation’s activities and may apply enhanced monitoring, limits, or account closure where usage falls outside fair and intended use.

19. To meet regulatory and safeguarding obligations, ESLCU may:

• • Request evidence of the organisation’s governing documents, fundraising permissions, or activity plans.

  • Decline transactions or freeze the account where activity appears inconsistent with these Terms.

  • Close the account with notice where prohibited or high‑risk activity continues.

These measures ensure that ESLCU can continue to provide safe, ethical, community‑focused financial services for all members.