Credit Union SA

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3.8

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Credit Union SA

Overview

Credit Union SA, formed on October 1, 2009, is a result of a merger between South Australian credit unions Satisfac and Powerstate. This customer-owned bank has been providing banking services to South Australians for over 60 years. The bank is the third-largest bank in South Australia with over $1 billion in assets and 50,000 members. The profits are channelled back to the members and broader communities resulting in higher interest rates, low fees, impeccable customer service, innovative products and services and development.

Bank Type
--
Founded
1958
Headquarters
South Australia, Australia
Industry
Banking
Formerly/Predecessor
--
Subsidiaries
--

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Pros & Cons-Credit Union SA

Pros

Strict lending policies.
High Property Value for First Home Buyers.
Home Loan for Self-Employed.
Signup Fees.
Strict Age Restrictions.
Customer Support.

About Credit Union SA
Features and Benefits
Services Offered
Types of Accounts
Banking Hours
FAQs

About Credit Union SA

Credit Union SA assists members in reaching their financial objectives and doing more with their money, and they offer a variety of financial solutions. Credit Union SA is particularly interested in helping teachers in addition to various community and educational programmes. The Education Community Banking Benefits package, created especially for educators and their partners, provides special discounts and offers on different Credit Union SA products. It is available to both new and current members employed in the field of education.

Features & Benefits of Credit Union SA

Following are the features and benefits of Credit Union SA that its customers can avail of:

Members Owned

Instead of having shareholders, Credit Union SA is owned by its members. All revenues are reinvested for the institution to maintain low fees and rates.

Internet Banking

Members can conduct transactions independently using a sophisticated, safe internet and mobile banking system. The VIP Security application provides an additional layer of security.

Numerous Products to Offer

Like a conventional bank, Credit Union SA provides a comprehensive selection of banking services, including savings accounts, mortgage loans, insurance, and financial planning.

Affordable Fees

Low or even no monthly transaction fees are charged to members. Students and senior citizens are exempt from fees depending on the kind of account.

Great Offers for Teachers

Members who work in the educational field are eligible for unique benefits and packages, such as the Education Community Banking Benefits package.

Savings for Adults and Children

Education Community Banking Benefits is one of the special benefits and packages available to members who work in the educational sector.

Services Offered by Credit Union SA

Credit Union SA offers a variety of services for the ease of customers. Following is the list of services and products provided by the bank:

Transactions Account
Savings Accounts & Term Deposits
Credit Cards
Debit Cards
Home Loans
Car and Personal Loans
Insurance
Vehicle Insurance
Digital Wallet
24*7 Banking
Conveyancing
Foreign Exchange Services

Types of Accounts in Credit Union SA

Credit Union SA offers a wide range of accounts. Some of them are listed below:

Transaction Accounts for day-to-day banking
Access Accounts for all sorts of digital payments
Savings Accounts
Term Deposits
Children’s Savings Account

Credit Union SA Opening Hours

Credit Union SA is a bank available for all your needs 24*7 on chat and call, and if someone wants to reach out to them physically, they can approach their branches on Weekdays (8 am - 8 pm) and Saturdays (8 am -2 pm). Th E-bank is shut on Sundays.

Credit Union SA Contact Details / Customer Service

Customers of Credit Union SA can connect with representatives through the following channels:

Customer support contact numbers: (08) 8202 7777 and 1800 018 227

Frequently Asked Questions

Who is Credit Union SA owned by?

With $1 billion in assets and more than 50,000 members, Credit Union SA is the third-largest credit union in South Australia. We are more motivated by the need to return dividends to shareholders than the central banks are because we are a customer-owned banking organisation.

Is a Credit Union Better Than a Bank?

Compared to banks, credit unions typically offer lower costs and greater flexibility, which makes credit unions a slightly better option than a bank.

Is Credit Union SA the same as Credit Union Australia?

Credit Union SA was formed after the merger between Satisfac and Powerstate, the two previous South Australian credit unions.

What's the difference between a credit union and a bank?

Banks are for-profit businesses that distribute profits to their shareholders, whereas credit unions are managed by their members. This is the primary distinction between banks and credit unions.

What are the benefits of a credit union?

One significant benefit of a credit union is that they offer higher savings rates and lower interest rates on loans.

What is the advantage of using a credit union?

In credit unions, savings rates are higher, and loan interest rates are lower. Credit unions can provide better interest rates to their members because they aren’t concerned with turning a profit but rather with covering their operating expenses.

Why use us?

The customised financial services from UrbanMoney Oceania caters to the varying requirements of the applicant on their fund procurement journey.

Low interest rates

The intricate online model ensures the best interest rates are offered to the customers. The services aim to diminish the overhead costs.

Urban Money Oceania Exclusive Deals

The customers can avail of various exclusive offers available to the customers by UrbanMoney Oceania designed to cater to their budgetary needs.

Australian based support team

Our support team offers tailor-made services to customers intending to conclude loan transactions without any hassle. Available to customers at their convenience.