With Star Saver, the savings account linked to our Easy Access transaction account. Earn competitive bonus interest to help unlock your savings growth while keeping it secure. With no monthly account fees and no minimum balance required, it’s time to be a Star Saver.
With our competitive interest rates to help your savings shine.
*Bonus + Standard rate total when all requirements are met. Offer not available in conjunction with previous offers. #Star Saver customers with an increase in savings of $200 or more, per calendar month, will receive the additional bonus rate for the month where such balance growth was achieved. ^The Standard Star Saver Interest Rate applies where balance growth for Bonus rate was not achieved. ~Star Saver account must be linked to our Easy Access transaction account which may incur a monthly fee if requirements are not met. All rates are subject to change without notice.
Open your Star Saver in a couple of steps.
New to SCCU? We will create an Easy Access transaction account for you during this application.
If you are an existing customer, you can create your Star Saver via NetBanking in minutes.
To open an account, you must:
Products issued by Southern Cross Credit Union Ltd. ABN 82 087 650 682. AFSL 241000. Any advice given is of a general nature only and is not based on any consideration of your objectives, financial situation and needs. To decide if a product is right for you, please refer to the Summary of Accounts, Access Facilities and Transaction Limits. To help you better asses if these products are right for you please reach out to our team or read through our Target Market Determinations (TMD), designed to help you make an informed decision that is consistent with your objectives, financial situations and needs. Deposits up to $250,000 per account holder are guaranteed by the Federal Government under the Financial Claims Scheme.
Ability to accept direct credits.
Eligibility criteria, fees and charges, terms and conditions apply. Advertised rate subject to change without notice.
^Star Saver customers with an increase in savings of $200 or more, per calendar month, will receive the additional bonus rate of 3.50% p.a. for the month where such balance growth was achieved. Bonus interest offer is subject to change without notice. The Standard Star Saver Base Interest Rate of 0.90%p.a. applies where balance growth was not achieved. Offer not available in conjunction with previous offers.
˜ Star Saver account must be linked to our Easy Access transaction account which may incur a monthly fee if requirements are not met.
Life happens and sometimes it is hard to get into the habit of savings. Setting goals can be a great way to provide you with direction and purpose to help you stay focused and motivated.
SMART financial goals allow you to break down your larger aspirations or needs into smaller, manageable steps. SMART is an acronym that stands for Specific, Measurable, Achievable, Realistic, and Time-bound:
Click below to read the full article with examples and download the SMART goal template we’ve prepared for you.
Need a hand to grow your savings? Let your money work for you.
Interest rates are typically represented as a percentage per annum, often you will see it represented as X% p.a. This describes how much interest will be paid on your account balance per year.
With interest, you would merely work out what that percentage would equate to over the 12 months. For example, if you hold a balance of $1,000 in an account that earned 3% p.a., your balance would be $1,030 a year later.
Compound interest, however, lets you earn interest on interest, meaning you earn interest both on the money you’ve deposited as well as on any interest already paid to you.
This can greatly impact your total your savings over time. Taking the above example, if you deposited $1,000 in an account earning compound interest, calculated and paid monthly, you would have $1,030.42.
Whilst that 42 cents may seem a little insignificant in this example, with additional savings deposits into your account and over a longer term, your balance can significantly increase as compound interest works for you. One more reason to continually grow your savings!
The biggest challenge in growing your savings is to not touch it. Some people choose to lock their money in a Term Deposit account, but most people still prefer the flexibility of having money at reach with a savings account.
So, how to resist the temptation to dip into your savings? Plan ahead by bucketing.
Bucketing is a strategy to organise your budget without complicated lists. It consists of setting up multiple transactions and/or savings accounts to allocate specific budget to your regular spending and savings, helping you stay ahead.
Each of these different accounts are like ‘buckets’ of money. If a transaction account, you might have one for monthly bills, another for weekends splurge, and another for family and friend’s gifts. If a savings account, you could have one for your emergency funds, another for holidays, and another one that dream home for example. With SCCU you can have up to 8 transaction accounts with a linked savings account for each one of them.
Open your accounts and start bucketing.
We have joined forces with Bridges, one of Australia’s leading financial planning companies, to provide expert financial advice. When you team up with Bridges Financial Services (Bridges) and Southern Cross Credit Union, you become part of a larger community that genuinely cares about your best interests.
So, how can a Financial Planner make a difference?
They guide you through financial planning, helping you make informed decisions about money – from savings strategies to investments. By preventing costly missteps, they safeguard your financial well-being. Their holistic approach covers cash flow management, estate planning, and lifestyle preferences. Ultimately, a well-crafted plan brings peace of mind and allows you to focus on other aspects of life.
Our partners at Bridges can help you navigate your next financial stage with expert financial planning, personalised strategies, and cutting-edge tools, such as a free Wealth Report.
Do you have accounts with more than one bank? Get a single view on your finances with Frollo, a comprehensive money management app.
Frollo is a free and secure app that allows you to have all your banking and finance accounts all in one place, so you can see them in totality without going into several apps separately.
All you need to do is download the Frollo app and add your transaction accounts, credit card, savings and loan accounts to Frollo in just a few clicks for a full picture of where your money goes.
It also allows you to easily set and track your budget, shows ways you can save and tips on achieving your financial goals.
Frollo is a third-party app. Click below to visit their website and learn more.
Start your financial journey strong with a savings plan.
Do some calculations here to see how you can achieve your savings goals with our Star Saver.
It’s about community at SCCU, where your savings build more than just interest – they build a stronger, more connected future for everyone.
A savings account is an account designed for savings purposes and earns a variable rate of interest and bonus interest if you meet certain criteria. They provide flexibility with building your finances, allowing you to save for short-term and long-term goals. You have 24/7 access and can transfer funds to and from the account with your online banking. Alternatively, you can contact us on business hours by calling our Customer Service Centre or by going to one of our Financial Services Centre’s.
Savings accounts are not a standalone account and can only be opened along with an Easy Access account to link to.
There is no minimum balance requirement to open a new Star Saver. However, to accrue the bonus interest, you must meet the requirements listed in the page or in the disclaimers.
There are no specific limits or fees to withdrawing funds from your Star Saver. However, there are daily transaction limits across the business.
To move funds from your Star Saver, you are required to first transfer the money to your linked Easy Access transaction account from where you can complete the withdraw.
Keep in mind that by withdrawing from your Star Saver, you may not meet the requirements to earn bonus interest on your account balance.
To see the daily transaction limits, check our Summary of Accounts, Availability of Access Facilities & Transaction Limits in our Product Disclosures page.
The interest rate is calculated daily and paid at the end of each calendar month.
Our Star Saver account works on a variable interest rate that is subject to change without notice.
No, it does not. Bonus interest is earned on the account balance where the minimum deposit requirement was met – excluding previous interest earned. If the requirements are not met, the account balance will accrue the standard interest rate for that month.
A savings account offers you a variable interest rate and is often linked to your everyday transaction account, allowing you to easily transfer funds and access your money freely. Whereas a Term Deposit will offer you a fixed rate for the duration of a term and it’s a lock-in standalone account. Term Deposits are designed so you don’t access your funds while they grow over the term.
Yes, you can set up automatic transfers to your savings account.
Log into your NetBanking and go to ‘Payments’ > ‘Transfer Money’ – fill out the transfer details and then you can set this up as a one-off future payment or a recurring payment in the ‘When’ section of the page.
If you have any questions, contact us at 1300 360 744 or find a Financial Service Centre close to you.
No, you can’t make payments from your savings accounts. You can only make payments via your linked Easy Access transaction account. This means you can transfer out of your Star Saver account to your linked Easy Access account, and once funds are in your Easy Access account you can then make payments or transfer them freely to other accounts or externally.
From your first transaction to lifelong investments, with you across all financial life stages.
Years of age
Australian our NZ resident
Confirmed employment
If you'd like a little extra help, call our team on 1300 360 744.
