Here's what you
need to know.
Who can apply?
Anyone who is 55 and over, with no need to provide us with a pension card. A minimum of $1 is required to open the account and it’s limited to one account per membership.
What happens next?
Someone from our team will be in contact within 1 business day to get you started with everything you need. It’s simple banking.
Interest and Fees
|$0 – $249,999||1.65%p.a.|
|Account Keeping Fees|
|Monthly account keeping fee||$6|
Fees and Charges
Say goodbye to your monthly account keeping fee, simply by following our tips below:
- Deposit at least $2,000 into your account each month (AKA your salary); or
- Ensure your average membership balance is $50,000 or above. This includes all loans and deposits in your name. It’s a great excuse to consolidate your banking with Illawarra Credit Union.
Interest is calculated daily on closing credit tier balance, credited 31 March, 30 June, 30 September & 31 December.
Refer to our Summary of Accounts & Availability of Access Facilities for more information.
Transaction fees and charges may apply, please refer to our Fees and Charges.
To reduce or cancel your credit limit complete our online form or call us on 1300 132 249.
The Australian Government guarantees aggregated deposits with Australian authorised deposit-taking institutions, including Illawarra Credit Union, of up to $A250,000.
The Financial Claims Scheme (FCS) is an Australian Government scheme that was established during the 2008 global financial crisis to provide financial protection for consumers in the unlikely event of a failure of a bank, credit union, building society or general insurer.
The FCS provides protection for depositors of banks, credit unions and building societies that are incorporated in Australia (also known as authorised deposit-taking institutions or ADIs), for deposits up to $250,000 per account holder per ADI. The scheme aims to return deposits to account holders within seven days of activation of the FCS.
The FCS can be activated by the Australian Government in the unlikely event that an ADI or general insurer fails.
Once activated, the FCS will be administered by APRA.
The objectives of the FCS are to:
- protect depositors of ADIs, and claimants of general insurers, from potential loss in the unlikely event of the failure of these institutions;
- provide depositors with prompt access to their deposits that are protected under the FCS; and
- support the stability of the Australian financial system.
Further information about the Government Guarantee can be obtained from the APRA website at www.fcs.gov.au.
We're here for
Illawarra Credit Union Limited is the product issuer of the deposit and payment products. Any advice given is of a general nature only and does not take into consideration your objectives, financial situation or needs. Please consider the appropriateness of the advice before acting. Refer to the Account and Access Facility Conditions of Use and the Fees and Charges for more details. Fees and charges are payable. Terms and conditions apply and are available on request.
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That's what we're here for. Give us a call, and our team will help you setup your Everyday Plus transaction account.