Member benefits
As a TEU member you are entitled benefits from the following organisations:
EBS Health Care
Education Benevolent Society was formed in 1964 and is exclusive to union members in the education sector. As a non-profit organisation, all funds work directly for you through lower charges and extra services.
Here’s a few simple reasons why you will benefit from joining
- greater financial security
- a comprehensive range of benefits for you and your family
- a genuine choice of health care options should the need arise
- a flexible range of cover options from basic doctors’ fees through to major surgery
EBS also offers travel insurance.
Give them a call on 0800 800 441 or email contact@ebs.org.nz
Professional Indemnity Insurance
Professional Indemnity Insurance is provided to TEU members automatically on payment of TEU subscriptions.
The policy protects members wherever they are involved with their professional occupation including whilst on contract, except when acting as an employee of an outside firm. The policy covers consultants, subcontractors, continuous cover, defamation, the Fair Trading Act, loss of documents and previous business. It has an unlimited retroactive date excluding known circumstances.
Because the policy has existed for a number of years, and due to the purchasing power TEU has by inclusion of all its members, the premium per capita is extremely low. The cost to insure individually for the protection provided under TEU Professional Indemnity policy, would be considerably more than the cost of a TEU subscription.
Members who utilise the policy must pay $1000 for each standard policy excess or $5000 for each claim alleging death or bodily injury. The excess for exemplary damages is $5,000 or the policy excess, whichever is larger. The sum insured is $1,000,000 per claim, not including legal costs, with an overall annual maximum of $10 million.
Queries regarding Professional Indemnity Insurance can be forwarded to TEU National Office or to:
James Short
Crombie Lockwood
P O Box 496
Wellington
Tel: (04) 381 8192, Facsimile: (04) 802 0041
james.short@crombielockwood.co.nz
United Credit Union
The UCU (United Credit Union) was formed in 1938 as the Post Office Investment Society (POIS) and has always operated as a ‘co-operative’. Financial co-operatives operate on the basis of pooling members’ money to offer credit to other members at below market interest rates. Membership of UCU is open to any worker (including their immediate family) who is employed within an industry in New Zealand that is covered by an NZCTU affiliated union. Credit Unions are not for profit organisations that exist solely for the benefit of their members – they are owned by their members. The United Credit Union offers similar services to banks including phone banking, internet banking, savings accounts and personal loans. Their membership fees, interest rates, account and transactions fees compare favourably to bank rates.
If you wish to know more about the United Credit Union (UCU) or join the service, the link to their website is www.ucu.co.nz
Apart from their low rates and fees, one of their other points of difference to other lenders is, UCU members are required to compulsorily save when taking out a loan. UCU’s aim is to ‘turn borrowers into savers’ The amount required to save ($20 per week on a 10k loan) is determined by affordability and the amount borrowed. The compulsory saving funds are frozen until the loan is fully repaid and then released back to the member, including interest earned.
Uni-Care
As a TEU member and New Zealand resident, Uni-care provide travel and medical insurance while you study work or temporarily reside overseas. You will find the fees through Uni-Care are more than competitive!
As a Uni-care member, you receive 15% discount off the already reduced prices of travel and medical insurance!
Uni-care now has an online joining form for your convenience … remember to choose TEU from the drop-down box as your supporting union.
See the Uni-Care website at www.uni-care.org or contact insure@uni-care.org
Union Plus
Whether you are buying your first home, refinancing, or entering the property investment market, Union Plus can help. Their services also offer house and contents, vehicle and mortgage income protection.
See the Union Plus website at www.unionplus.co.nz for more information.
TravelCafe
UnionTravel, through TravelCafe offers discounts on international airfares, accommodation and more. Call free or check out the website for the latest deals. UnionTravel is operated by TravelCafe International Limited in association with Unionsure.
Ph 0800 438 688
