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Interest Rate Changes - Effective 1st January 2010
We wish to advise members of the following increase in interest rates:
Mortgage Loans
Effective 1st January 2010 the following loan accounts will be increasing by 0.30% per annum;
L32, L33, L35, L38, L39, L42, L46, L54, L60, L61, L82, L88, L92, L93 and L94.
As a result of these increases the term of loan accounts may have been affected. Members should contact their local branch if they wish to ascertain their new loan term. There will be no changes to contracted repayments with this interest rate increase.
Continuing Credit Facilities
Effective 1st January 2010 the following continuing credit facilities will be increasing by 0.30% per annum: L34, S5, S6, S7, S9, S10 and S55.
There will be no changes to contracted repayments for continuing credit facilities.
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RediATM expansion across Australia for SCCU members
From 1 September, SCCU members can begin accessing over 3,100 ATMs across Australia without paying a direct charge fee.
An agreement that effectively sees the NAB ATM fleet join the rediATM fleet nationally will provide better access for SCCU members through the second most accessible ATM network in the country.
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Assisting Members with Financial Hardship
Recent media reports have highlighted steps that borrowers can take to deal with financial hardship.
At Southern Cross Credit Union, we have always offered help to members who may experience financial hardship. That’s what being member-owned is all about – putting your interests first.
At Southern Cross Credit Union, we focus on making sure we lend responsibly, but we understand that your circumstances can change, for example, because of a change in your employment.
Working with you can make an assessment of how best to assist you and your family based of your ability to meet the obligations of your loan. This is the high standard of Credit Union service we have always applied.
While it’s good to see big banks looking at this issue, their new announcement is about doing what we have always done, by working with you wherever possible when tough times arrive.
Any member who is facing difficult financial circumstances or an inability to repay their loan should contact us on 02 6672 2744 to discuss your situation further.
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Current Special Loan Rates
Thinking of buying a new car? The Credit Union has a special personal loan rate of 8.29%*.
Please contact your local Branch Team Leader to see if you are eligible.
* Comparison rate 8.46% based on $30,000 principal over 5 years.
Terms & conditions, fees & charges may apply.
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Important Changes to ATM Charges
Members should be aware that from March 2009, the way customers pay to use ATMs in Australia is changing.
For details please download the Information Brochure
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