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.
The study found that compared to the Big Four Banks, we've provided added value of $2.8 million to our 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.
Superior service and high Member satisfaction
Community First consistently outperforms Banks in surveys of customer satisfaction. Our overall Member satisfaction level of 86% 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%. (Roy Morgan Research).
Wide range of award winning Products and Services
Community First provides a wide range of innovative products including home loans, personal loans, low rate VISA 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 Magazines Best of the Best, Your Mortgage Magazine and Financial Review Smart Investor Blue Ribbon Awards.
Fees & Charges
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.
Safe & Secure
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.
