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Teachers Credit Union pass on 0.15% rate increase to members

05 September 2007

Teachers Credit Union is passing less than the full 0.25% Reserve Bank of Australia official rate rise implemented on 8th August 2007, to some of their home loans.

“We have had a good year and are able to absorb some of the rate increase. Our members will benefit instead”, Chief Executive, Steve James says.

“Our home loans are priced competitively with other lenders coupled with this; Teachers Credit Union home loans remain very attractive with features including no application, administration or on-going account keeping fees,” Mr James continues.

Teachers Credit Union have also increased their Savings and Investment account rates – with their Investment Account rates for terms over 12 months being amongst the highest in the market.

“We are proud to be able to provide our members with this great pricing. As a credit union we put our members first”.

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