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Savings Accounts effective 1 August 2019

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Christmas Club S4    
Old Rate Change New Rate

1.00%

-0.25%

0.75%

Premium Savings S6    
Old Rate Change New Rate

1.00%

-0.25%

0.75%

 

 

 

Pension Security S8      
Balance Old Rate Change New Rate

$1 - $45,400
$45,401 +
 

0.75%
1.25%
 

-0.25%
-0.25%
 

0.50%
1.00%
 

Bonus Saver S7      
Balance Old Rate Change New Rate

Standard Rate
Bonus Rate
Total Rate

0.01%
2.19%
 

N/A
-0.20%
 

0.01%
1.99%
2.00%

 

 

 

 

Pension Security S72
(no longer available)
     
Balance Old Rate Change New Rate

$1 - $45,400
$45,401 +

0.75%
1.25%

-0.25%
-0.25%

0.50%
1.00%

Super e Saver S73
(no longer available)
   
Old Rate Change New Rate

1.25%
 

-0.25%
 

1.00%
 

 

 

 

 

S89 CCCU Savings
(no longer available)
   
Old Rate Change New Rate

1.25%


 

-0.25%


 

1.00%


 

S90 CCCU Savings
(no longer available)
     
Balance Old Rate Change New Rate

To $19,999.00
$19,999.01 - $49,999.00
$49,999.01 - $99,999.00
$99,999.01 +

0.25%
0.75%
1.00%
1.25%

-0.25%
-0.25%
-0.25%
-0.25%

0.00%
0.50%
0.75%
1.00%

 

 

 

 

Unity Bank Interest Rate Changes – 18 July 2019

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Changes to Interest Rates

With the Reserve Bank of Australia making further reduction of the cash rate by 0.25%, Unity Bank has undertaken a comprehensive review of rates on our variable rate loans and savings/deposit products.

With this being the second consecutive monthly reduction and home loan rates already at historic lows, our priority is to implement equitable rate changes that strike a fair balance between the competing needs of our borrowing and depositing Members.

We have looked at various options with a view to passing on as much of a reduction to our home loan products, whilst limiting reductions on savings and term deposit accounts so as to minimise the impact on savers, many of who are retired.

In order to accommodate these competing needs, we have announced the following changes to our products:

Home Loans

  • All new and existing variable owner occupied and investment home loans will be reduced by 0.15% p.a effective from 1 August 2019.  Details of your reduced rates will be advised on your next statement.
  • Our 1, 2, 3 and 5 year fixed rate home loans for both owner occupied and investment home loans have been reduced by upwards of 0.76% bringing them to historical lows.  These reduced rates are now available to those Members seeking the certainty of fixed repayments for a period of time. Our new fixed rate home loans can be found here.

Visa Credit Card

  • The ongoing rate on all new and existing Visa credit cards will be reduced by 0.13% from 1 August 2019 bringing the rate to 9.99%.  When combined with the 6 month introductory rate of 7.99%, our Visa Credit Card is one of the most competitive in Australia.

Savings and Term Deposit

  • Although it has been necessary to review the rates on a number of savings products, we have restricted reductions to our Bonus Saver account so that Members can continue to earn up to 2.00% (inclusive of Bonus interest). Full details of other changes can be found here.
  • Some reductions have been necessary to our Term Deposits, but we have decided to keep our popular 3 month rate unchanged at 2.10% and have restricted changes to the 6 and 12 month terms to only -0.10% and -0.15%.  Our new term deposit rates are available from 18 July 2019 and details can be found here.

If you require any further information about the impact of the above rate changes, please give us a call on 1300 36 2000.

 

Unity Bank reduces loan interest rates for its Members.

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With the Reserve Bank of Australia lowering the cash rate by 0.25% and with the overall market rates now falling to a further historic low, Unity Bank has undertaken a comprehensive review of rates on our variable rate loans and savings products.

Our priority at Unity Bank remains always to provide our Members with competitive lending rates and, at the same time, we have a responsibility to our depositors who will be impacted by this low-interest rate environment.

To accommodate these competing Member interests, Unity Bank will be reducing the rates on all variable rate home loans while also maintaining competitive rates on our most popular savings and deposit accounts.

Loan Rate Changes effective 1 July 2019

For owner occupied, the variable home loan rate will be reduced by 0.18% p.a.

For investors, the variable investment property loan rate will be reduced by 0.15% p.a.

If you require any further information about the impact of the above rate reductions, please give us a call on 1300 36 2000.

 
   

Protect Yourself From Scammers

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Australians love technology. We are spending more time online shopping, entering our personal details and accessing the internet on our devices. Some of us even have an auto-memory software in place in case we forget our passwords.

Anybody using the internet and electronic devices needs to be aware of the increasing threat of scammers. Recently, scammers have been impersonating your favourite businesses or even the police and the Australian Taxation Office. They want to gain access to your computer and steal money or banking information.

The ACCC’s Scamwatch website has recorded a significant spike in these types of scams, known as remote access scams, with more than 8000 reports recorded in 2018 so far and losses totalling $4.4 million. 

You can avoid becoming a victim of scammers by knowing how to protect your information and your devices. Learning more on the scams that are being used can empower you to avoid being caught. Some of the scams are as follows:

  • Hoax messages: emails, text messages or internet pop ups that direct you to fake websites which prompt you to reveal personal information.
  • Malware: software that can monitor where you go online and record your keystrokes which means it can record your confidential passwords, logins and other personal information.
  • Fake phone surveys:  contact you and ask questions to try and trick you into revealing personal information.
  • Website scams: targeting many people by running a scam that sounds “too good to be true”.
  • Phone porting: switching your phone to another provider without permission to gain access to your calls and text messages.

Please note:  The Bank will:

  • Never ask for your Internet Banking login details or credit card details via phone or email
  • Never use email to send you a link to an Internet Banking login page
  • Never ask you to communicate your passwords to us in any form

 

Security tips

There are some good practices and simple actions that may reduce personal information being compromised.

  • Lock it – set a password on your device so that no one else can use or view the information. Also store your device in a secure location.
  • Contact your bank if you lose your phone or tablet – call your bank immediately to tell staff about the loss and provide your new number.
  • Be careful what you send via text message – never send personal information via message.
  • Only use official internet banking apps – those from your bank.
  • Install and keep up to date anti-virus and firewall software purchased from trusted suppliers.
  • Protect your passwords – keep your PIN and passwords confidential. Avoid using the same password for multiple websites. If your banking app allows a PIN, make sure it’s different than the one you use to unlock your mobile device. Make sure your password or code is hard for others to guess but easy for you to remember.
  • Read privacy policies – before you provide personal information to any website, understand how your information will be used and how long it will be retained. To view Unity Bank’s privacy policy click here
  • Be wary of free downloads, programs, software or screensavers – sometimes malware and spyware can be hidden in free offers.
  • Check your bank statements – contact your bank if you find any unusual or suspicious transactions.
  • Always log out of internet banking.

Unfortunately, scammers see opportunities whenever money is involved, and they will always seek new ways to steal and commit fraud. At Unity Bank, rest assured that your financial wellbeing is always our top priority along with the security and safety of your banking. These tips are here to help you build a better defence against scammers.

Don’t forget to check out www.scamwatch.gov.au for more tips as they become available.

 

 

Members support lead to fees being slashed.

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Due to the excellent support that our Members have provided us, we are in the fortunate position to reduce and eliminate a number of fees. As a Member Owned Bank, we are constantly looking for opportunities to provide benefits to our Members and these positive changes are a clear example of us putting our principles into action. The more our Members support our Bank the better position the Bank is in to support you and the communities that you live and work in.

From 1 January 2019, you will benefit from the following changes:

Excess Transaction Fees
Reduced to $1.20
All in One Rewards Package Annual Fee
Reduced to $350 per month
Unsecured / Secured Personal Loan Service Fee 
Reduced to $5 per month
Periodical / BPAY / Direct Transfer Payment Fee (Staff Assisted)
Free
Banklink Establishment Fee
Free
Banklink Cancellation Fee
Free

 

 

 

 

 

As a reminder to Members, you can use over 20,000 ATMs owned and operated by Banks Australia-wide and not incur a Direct Charge. We have however withdrawn from the rediATM network of around 3000 ATMS and should you use this network, a Direct Charge of $2.50 will be charged by the ATM owner from 1 January 2019. 

We will be rebranding our ATMs in our Branches, which you will notice over the coming weeks. These ATMs remain free of charge and members can still transact for free over the counter in the Branch Network. You can also join the thousands of members that have taken up our digital services by downloading our Banking App from the Apple or Google Play Stores or by loading your Visa Card into your digital wallet.

Should you have any questions in relation to the changes or any of our Digital Services, please contact us during normal business hours on 1300 36 2000.

   

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