NEWS
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Get less with banks and more with Credit Unions
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$3 billion in profits, rate rises above the Reserve Bank, decreasing deposit rates, additional fees and charges with no benefit passed onto customers…does this sound like the service you deserve from your bank?
A recent survey has shown that 42% of one of the major banks’ client listing is unsurprisingly unhappy with its performance.*
At the same time Big Sky members saw $3.5 million put back into their own credit union which gave them increased deposit rates, cheaper interest, fee-free accounts, as well as many other free benefits you won’t see at a major bank.
Prime Minister Kevin Rudd has weighed into the major banks profit disgrace by saying “they need to have a long, hard look at themselves, look at their level of profitability and how that can be better passed on to home buyers who are struggling.”*
Big Sky CEO, Tony Ryan adds “this isn’t news to us at Big Sky, we are here for the members to profit, and we aren’t lining shareholder pockets with the hard earned and much needed funds of Australian families. Any profit we see is passed directly back to our members.” Mr. Ryan also states “the major banks are making it harder and harder for people to afford their own homes, our home loans are not only affordable but they will continue to be for the sake of our members.”
CHOICE spokesperson Christopher Zinn has spoken out in support of credit unions agreeing with the offer of lower fees than the major four banks and re-enforcing that Westpac is the most costly option for home loans**.
For many years our members have had the benefits of:
- Competitive rates on home and personal loans, and a wide range of deposit products
- Convenience: your banking, insurance, cash investments and financial planning all easily managed in the one place.
- And more recently ‘Choice’: giving you the option between fee free packages or those with a small fee for additional benefits.
All this with personal, friendly and immediate service; whether this be by phone, internet, or in one of our Service Centres.
For more information please call one of our friendly staff to see how we can help you on 1300 654 321.
Big Sky….'banking where members benefit'.
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*Sources: “Westpac can bank on fury”, Herald Sun, 6 May 2010.
** Sources: Melbourne Talk Radio, DRIVE, 6 May 2010.
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