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While the banks are breaking up with each other, Community First Credit Union is still focused on you
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With consistently better rates than the major banks, and access to Australia's second largest national ATM network, it's no wonder over 4.5 million Australians choose to bank with a credit union or building society.
| You’ll be better off
| Members of Community First are better off than customers of the Big 4 Banks according to research conducted by independent Financial Services Research Group, Cannex.
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The study found that compared to the Big Four Banks, Community First provided added value of $2.8 million to it’s Members on a range of benchmarks based on rate, fees and transactions.
As a mutual organisation Community First is not required to make large profits to pay dividends on shares. We deliver value to our Members as owners through superior service, an extensive range of products, lower fees and competitive interest rates.
| A place with consistently better home loan rates
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InfoChoice has estimated that Australians cost themselves $2.7 billion in excess mortgage payments because they stick with the big banks and don’t seek out other players. On average, home owners who take a mortgage out with a credit union or building society are more than $30,000 better off over the life of the loan - Infochoice.**
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Superior service and high Member satisfaction
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Community First consistently outperforms Banks in surveys of customer satisfaction. Our overall Member satisfaction level of 85% continues to highlight key differences between Community first and other financial institutions. Many of the Banks regularly receive satisfaction ratings from their customers in the range of 60-70%.
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Convenient ways to bank
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At Community First, we provide you with choice and convenience, so whether you need to speak to some one face to face, find your nearest ATM or want to do your banking on the go via your mobile phone, you can rely on us to provide you with a range of convenient ways to bank so you can get on with doing the things that really matter. For example:
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- We're part of Australia's second largest ATM network, where Members can transact direct charge free at over 3,500 rediATMs.
- We have 11 financial services stores branching across both Sydney and the Central Coast
- We provide you convenient ways to bank such as mobile banking, Internet Banking and telephone banking so you can do your banking 24/7 at a time and place that suits you
- We have a dedicated call centre who can assist you from 8am to 8pm weekdays, and 9am to 3pm on Saturdays. We also have a team of Mobile Managers who can visit you at a time and place that suits you.
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Wide range of award winning Products and Services
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Community First provides a wide range of innovative products including home loans, personal loans, credit and debit cards, insurance and financial planning. Our savings and loans regularly appear in the best buy Tables of the major newspapers.
Additionally, our home loans, personal loans and savings products have been regularly recognized over the years by the finance industry via awards such as Money Magazine's Best of the Best, Your Mortgage Magazine and Financial Review Smart Investor Blue Ribbon Awards.
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Find out more about our awards >
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Fees & Charges
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Members of Community First are rewarded for their loyalty with lower and a fairer fee structure. As a result of our Member fee allowance 60% of our Members don’t pay any transaction fees at all. Also, unlike other lenders, we also don’t charge any monthly loan account keeping fees.
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View our fees and charges >
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Safe & Secure
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Community First is a financially sound and well managed Financial institution that has been in operation since 1959.
Community First Credit Union is an “Authorised Deposit Taking Institution” regulated under the Banking Act 1959, by the Australian Prudential Regulation Authority (APRA) and the Corporations Act 2001, by the Australian Securities and Investment Commission (ASIC). Credit Unions hold Australian Financial Services Licences administered by ASIC, and are regulated under the Corporations Act, meeting all relevant Australian company law requirements and obligations.
Community First carries capital relative to our risk-weighted assets that is well above the current level of banks. Community First also provides an extra degree of protection for our Members through our contributions we make to the Credit Union Financial Support System (CUFSS)
CUFFS is an industry support scheme that provides deposit protection for Credit Union Members. The scheme has been certified by the Australian Prudential Regulation Authority (APRA), the prudential regulator for all deposit-taking institutions, including credit unions and banks.
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** Savings based on Infochoice analysis of average 4 major banks and best 4 credit union and building society variable home loan rates at 15 June 2010 for $300,000 over 25 years, without fees and charges.
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