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Treasury Dormant Account Fees

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  • #5431


    1. Has anyone thought about paying dormant account funds to the treasury that is then utilised by fair for all for social purposes?

    2. Is there anything that would prohibit Credit Unions from doing this?

    Just a thought process, as we are charging dormant accounts £5.00 a year to cover the costs of keeping the account open, but how long do you do this for? Is it ethical to keep charging the same account for 20+ years and take £100 to profit rather than reinvest them funds into a social purpose, after a certain amount of years of inactivity.

    Please note this isn’t something we are actively considering, just something I am interested to look into as a side thought.

    Thanks in advance


    Samantha Owen Finance Manager Unify Credit Union LTD Email :

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  • #5432


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