Deposits

The Mutual Association offers its members, active and retired, three types of accounts:

CHF

1) The deposit account in CHF

• Maximum deposit : CHF 2,000 per month.
• Withdrawals unlimited with 3 working days prior notice.
• Civil servants from UNOG, ITU, WMO, HCR and IPU can request a monthly deduction from their salary to be credited to the deposit account. A form is available to request the deduction.
• Members who retire on pension at latest 31 December 2008 are allowed to deposit, within the month following the payment, their final emoluments (last salary, accumulated leave, repatriation grant, any additional amount) paid by the Organization. Supporting documentation is required. It is not possible to deposit any amount originating from the Pension Fund.
• The rate of interest paid on the deposit account is based on the results of the financial year. It is agreed, following the proposal of the Board of Directors, by the General Assembly which is held within six months following the end of each financial year.

2) The current account in CHF

• Deposits and withdrawals are unlimited.
• For deposits over CHF 30,000, as part of the Global Programme against Money Laundering, satisfactory evidence of the origin of the funds will be required before the sum can be accepted (Organization and Pension Fund payments are not subject to this verification). Pension Fund payments are not subject to this verification). All deposits received for amounts over CHF 30,000 without evidence of the origin of the funds and agreement of the Mutual Association will be immediately returned to the sender. Any charges incurred will be at his/her expense.
• When large amounts need to be withdrawn in cash, prior notice of 1 working day is required.
• Members who retire can deposit their lump sum paid by the Pension Fund into the current account.
• Members have the possibility to place a standing order to transfer each month an amount from the current account to the deposit account. A special form is available to initiate the transfer.
• The rate of interest paid on the current account is 0,50% per annum.

USD

3) The US dollar account

• Deposits and withdrawals can be effected only by means of wire transfer.
• Deposits and withdrawals are unlimited.
• For deposits over USD 25,000, as part of the Global Programme against Money Laundering, satisfactory evidence of the origin of the funds will be required before the sum can be accepted (Organization and Pension Fund payments are not subject to this verification). All deposits received for amounts over USD 25,000 without evidence of the origin of the funds and agreement of the Mutual Association will be immediately returned to the sender. Any charges incurred will be at his/her expense.
• Withdrawals can be effected with prior notice of 3 working days.
• The interest rate is variable, reviewed on a monthly basis and communicated at the beginning of each period.
• Interest will be credited monthly to the members account.