Credit Union SA: Supporting South Australians with their banking
Credit Union SA pays no dividends to shareholders, instead using profits to keep interest rates and fees low.
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Born of the merger of two South Australian credit unions, Credit Union SA is a customer-owned financial institution with a membership of around 50,000 people. Since all profits are ploughed back into the organisation, Credit Union SA prioritises personal service, low fees and contributions to community projects.
Credit Union SA savings accounts, bank accounts and term deposits
Credit Union SA savings accounts
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Credit Union SA bank accounts
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Credit Union SA term deposits
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Finder Score assigns Term Deposit products a score out of 10, comparing interest rates and features, to make comparison easier. We assess over 150 products from more than 90 providers, assessing products across different terms to determine an average score per product.
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What are the pros and cons of banking with Credit Union SA?
Pros
- Owned by its members. Credit Union SA is owned by its members instead of shareholders. All profits are poured back into the institution to keep fees and rates low.
- Internet banking. Members have access to a safe, sophisticated internet and mobile banking system to conduct transactions independently. The VIP Security application provides an additional layer of security.
- Varied portfolio of products. Much like a traditional bank, Credit Union SA offers a full range of banking products, from savings accounts and home loans to insurance and financial planning.
- Low fees. Members pay low - sometimes zero - transaction and monthly fees. Depending on the account type, fees are waived for students and seniors.
- Advantages for teachers. Special benefits and packages apply to members who work in education, such as the Education Community Banking Benefits package.
- Savings for children and young adults. This account pays bonus interest at the end of the month when there’s been at least one deposit and no withdrawals.
Cons
- Limited branch network. Branches are located only in South Australia, so if you're located in another state you're unable to visit a branch should you need to.
How to apply for a Credit Union SA savings account
Applying online for a new bank account is fast and easy. You'll need identity documents such as your driving licence or passport. For more about the process, check out our full guide to opening an account online.
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How can I open a term deposit
Hi Keith,
You can open a term deposit by completing the online application form on the bank’s website.
Thanks,
Alison
we looking for buy a house(the first house). What we doing for a low interest rate.
Hi Con,
Thanks for your question.
Regarding your question, you may benefit from reading our guide about first home buyer tips. Alternatively, we also have a list of cheap home loans, which offers lower interest rate.
Aside from checking our pages, you may also talk to a mortgage broker. A mortgage broker is a professional who compares and helps you apply for home loans on your behalf. A good mortgage broker will give you personalised service all the way through to settlement.
I hope this helps.
Cheers,
Danielle