Application to purchase Deferred Shares

Please complete this form to register your interest in purchasing deferred shares in Boom Community Bank.

On receipt of the completed form, we will supply the following:

  • Information about Deferred Shares and the financial Promotion.
  • The Terms and Conditions of the Promotion.
  • A Risk Warning and Declaration on Personal Assets for you to sign.

If you have any questions that you would like answered before completing this form, please get in touch with business@boomcb.org.uk

The Promotion

We appreciate your interest in purchasing Deferred Shares in West Sussex and Surrey Credit Union Limited, which trades as Boom Community Bank. The Credit Union aims to raise £50,000 by promoting and selling Deferred Shares to members. Deferred Shares purchased as part of the Promotion are subject to terms and conditions, and any member wishing to purchase deferred shares under this Promotion must endorse a declaration, signifying their acknowledgement and acceptance of the Promotion's terms and conditions. All Credit Union members may apply to purchase Deferred Shares. In the context of this Promotion, a member may acquire a minimum of 50 shares and a maximum of 500 shares. Individuals who are eligible to join the Credit Union may do so to purchase Deferred Shares.

About Deferred Shares

A Deferred Share holds no claim on the company's assets during bankruptcy proceedings until all common and preferred shareholders have been settled. Consequently, owning Deferred Shares involves a substantial financial risk. It's important to note that the Financial Services Compensation Scheme (FSCS) does NOT protect Deferred Shares. The nominal value of a Deferred Share in Boom Community Bank is £1. When a Deferred Share is sold, the equivalent amount is allocated to the Credit Union's reserves. Deferred Shares CANNOT be withdrawn but are transferable among credit union members.

Risk Warning

The investment to which this communication relates is a Deferred Share. Direct investment in Deferred Shares can be high risk and very different to investment in deposit accounts or other savings products. In particular, you should note the information below. Please tick the boxes to confirm that you have read and understood each statement.

The entire amount you pay for the deferred share is at risk.

The sum you pay is only repayable to you in limited circumstances, specifically if (i) the Credit Union has obtained specific regulatory permission to make the repayment; or (ii) the Credit Union is wound up and there are funds remaining after all creditors, including savers and holders of subordinated debt, have been repaid.

The sum you pay for Deferred Shares is not covered by the Financial Services Compensation Scheme.

A Deferred Share may only be sold to a member of the same Credit Union and may be difficult to sell on.

Investing more than 10% of your savings or net investment portfolio in Deferred Shares issued by a Credit Union, Credit Union Subordinated Debt, and Mutual Society Shares is unlikely to be in your best interests.

Your Details

Please complete your details to proceed with your application to purchase Deferred Shares in Boom Community Bank.

About Your Investment

Under the Promotion, a minimum of 50 and a maximum of 500 deferred shares may be purchased per individual member of the Credit Union. 1 Deferred Share = £1. The minimum purchase is 50 deferred shares (£50).

Entering your name represents your electronic signature.