I was wondering if anyone is a member of any credit unions? I kinda feel obligated to move my money out of the big 4 banking system but i dont want to completely financially screw myself…what are my options wise ozbargainers! Who has the best deal?
I would probably want a transactiona account (with free or very low monthly fee, plus generous ATM access), Visa/MCard Debit and online savings.
: )
Thanks h4lycon
I am actually using that as well, but i am wanting to get away from the big banks (Bankwest owned by Commonwealth)
Indeed, but only a fairly recent acquisition. And the two companies are worlds apart when it comes to their products and customer service.
ING have a similar account to above… plus there's their $25 payment if you use Credit 5 times in December promo on now.. search Ozbargain, it was posted a few days ago.
I've been a Credit Union user for years (I'm a member of 2 Credit Unions), but recently their offers have declined significantly. I think credit squeeze is hurting them as they seem to be merging to become bigger entites and they have transaction limits like banks introduced 10-15 years ago (back when I moved from banks to CU's)…
The ING offer is pretty sweet.
- I don't think there's a deposit minimum/month like the Bankwest account above (but don't quote me on it)
- They have nice sweeteners like free ATM withdrawals from ANY ATM, provided you withdraw $200 or more
- 50c credit every time you do a cash out at EFTPOS!
- Free BPay
- plus they have a pretty decent High Interest account if that suits you.
I'm with a CU, but I would say look for the best deal and go with that. The best way to screw a bank (to the small extent that you can) is to take full advantage of their offers if they are really good and you are eligible. The other customers will be subsidising you.
I can also recommend Ingdirect for their transaction account.
Don't forget to look into where you can get a better deal for your super funds. There's a lot of money at stake there, and a fund with less take and more give will save you a small fortune after decades.
I use BankWest's Zero transaction account.
If you can deposit at least $2k per month,
Info - http://www.bankwest.com.au/Personal/Transaction_Accounts/Ban…