You have a maximum Cash ISA allowance of £5,340 for 2011/2012 tax year. This means that you cannot deposit more than £5,340 in this tax year, even if you make a withdrawal. For example if you save £5,340, then take out £500 you cannot make another deposit until the next tax year.

The tax year runs from 6 April to 5 April the following year. Subscription limits apply only to the amount subscribed and the amount subscribed is not reduced if an investor makes a subsequent withdrawal. An investor who has not subscribed up to the limit cannot carry forward the difference and add it to the subscription limit for the next year.

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General
We can repay all or part of your investment at any time, without giving any reason. This is subject to us giving you at least 45 days notice in writing, under normal circumstances.

We do not have to recognize the interest or claim of any person other than the Account Holder in respect of money held in the account, nor will we be liable in any way for failing to recognize such interest or claim, except as required by law.

London Mutual Credit Union Ltd. is a member of the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Payments under the scheme are limited to a maximum of £85,000 per person (for claims gainst firms declared in default).

The ISA investment, will be, and must remain in, the beneficial ownership of the investor and must not be used as security for a loan. On the instructions of the investor and within the time stipulated by the investor in accordance with ISA account terms, all or part of the investment held in the ISA and proceeds arising from that investment shall be transferred or paid to the investor.

Variation of Terms & Conditions
Whenever we make a change to your Cash ISA Terms & Conditions, we will always notify you in writing, in our branches and through www.creditunion.co.uk We may change, remove or add to your Terms & Conditions, at any time for one or more of the following reasons:

• To take into account of any changes in the law or codes of practice
• To take into account of the requirements or recommendations of the Financial Services Authority or any other regulatory body or decisions or guidance of any relevant ombudsman
• To take into account of any change or expected change in the service or services we provide
• To take into account of any new or improved services or facilities that we may provide
• To take into account of any ruling by a court or similar body
• To correct any errors which might be discovered

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Transfers

If you wish to transfer your existing ISA with a different provider to London Mutual Credit Union, please complete the Transfer form and send it to the London Mutual Credit Union on the indicated address in the Transfer Form.

Once we receive your transfer forms, we'll write to your current provider to request they transfer your funds to us. We will write to you to acknowledge receipt of your application and will contact you if we require any additional information or have any queries. We will also write to you to let you know your new account number if applicable. If we haven't received your funds after 10 days, we'll chase your current provider.

Please ask in any London Mutual Credit Union branch for a transfer application form, or download and print the Transfer Form, it will take approximately 4 weeks to complete. Don't worry about letting your current provider know, we'll do this for you.

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