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Savings Accounts FAQs

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Take a look at our FAQs below:

Do I have to be a member to open an account?

The Credit Union is a mutual financial services organisation and as such is owned by its members, each one of whom is a shareholder. You need to be a member of the credit union to open an account with us. ^

How much do I need to deposit to open a savings account?

There is a minimum deposit of $1 required to open a savings account with us. ^

How do I make deposits to my account?

You can arrange to make deposits to your account by:

  • direct credit of payroll or other income;
  • transfer from another savings or transaction account;
  • Internet or Phonelink transfer;
  • over the counter at any branch of the Credit Union; or
  • with your rediCARD or Visa Debit Card via Bank@Post or at any participating Australia Post branch. ^

How do I make withdrawals from my account?

Accessing your money will depend on the particular features of your account however we offer an extensive range of access facilities:

  • Internet banking
  • Phone banking
  • BPAY®
  • Electronic funds transfer
  • rediCARD
  • Visa Debit & Credit Cards
  • Cheque book
  • Branch withdrawal ^

How often will I receive information on my account?

Statements are issued monthly or as requested.

Account balances are available through our Internet and Phonelink services and statements are available through our Internet banking service. ^


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Illawarra Credit Union is a division of Community Alliance Credit Union Ltd the product issuer of the deposit and payment products. ® Registered to BPAY Pty Ltd ABN 69 079 137 518

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