Community First Credit Union - Savings Account

Community First Credit Union - Savings Account

Community First Credit Union is based in New South Wales. It currently ranks 9th among the leading credit unions in the state, and is the 23rd biggest credit union in Australia in terms of total assets. Community First now has 13 Financial Service Stores, more than 70,000 members, and over AUD$700 million in managed funds.

History

It started out in 1959 as a small cooperative for the Salaried Officers of the Metropolitan Water, Sewerage and Drainage Board in Sydney. Eventually it expanded to include all of the board's employees, and later opened financial service stores in Liverpool, Penrith, Bankstown, St Mary's, and Eagle Vale. Before long, the union had grown enough to offer its services to the rest of the community and became known as Community First Credit Union.

Better value

According to Cannex, Community First gives its members better value than Australia's esteemed Big Four. With its competitive interest rates, great savings account, low service and keeping fees, and quick, hassle-free transactions, members get as much as AUD$2.8 million more in added value than many leading banks.

Community First also rates high In terms of customer satisfaction. In the latest surveys, the u ion ranked 86%--several points higher than the average of 60% to 70%.

Member-oriented

Community First Credit Union is entirely member-owned. Because there are no shareholders, the union does not aim to maximise profits for dividends. Instead, excess funds are given back to the members in the form of better interest rates, low transaction and keeping fees, a better selection of products, and generally better service.

Products

Community First offers a large selection of products, from basic savings account to financial planning and insurance. It also offers home and personal loans, and low-rate credit and debit cards from VISA. Its loans and savings account are consistently among the Best Buy lists of major publications.