In 2018 and 2019 CUA (Credit Union Australia) walked away with the Mozo Experts Choice Award for Australia’s Best Credit Union and *drumroll* it’s done it again!
That’s right, CUA has achieved a hat trick in its winning of the 2020 Mozo Expert’s Choice Award for Australia’s Best Large Credit Union.
Made up of a number of smaller credit unions, CUA was founded in 1946 in Queensland. Throughout its 74 years of history, CUA has seen Aussies through times of both economic wealth and hardship and now it has been recognised as Australia’s Best Large Credit Union in Mozo’s 2020 Experts Choice Awards.
So what did CUA win exactly? Well, this is the best part, because CUA wasn’t just recognised for performing well for a few of its products, it was recognised for doing well across a whole heap of products.
That’s because the Australia’s Best Banking awards are almost like a highlight reel of the Mozo Experts Choice Awards from the past 12 months. So, for these awards, our team of data experts looked back at all the accolades of the past year to determine which banks, credit unions and mutual banks consistently offered great value, across a wide variety of products.
Although CUA didn’t snag quite as many of the individual awards, our experts found that the credit union’s products continuously popped up in the higher rankings.
Mozo’s banking expert Peter Marshall said, “CUA actually only won awards in a couple of categories. But for almost every product category, particularly home loans and deposits which are the key focus for most customers, they were really strong.”
CUA ranked especially well in savings accounts, winning Mozo Experts Choice Awards this year for its self managed super fund savings accounts.
Keen to take a peak at what kind of financial products a 70-year-strong credit union has to offer? Check out some of CUA’s accounts and loans below.
With 3-year rates starting from as low as 2.69% p.a. (4.04% p.a. comparison rate*), CUA’s Fixed Rate Home Loan is definitely worth a look at. Plus with this fixed rate home loan you’ll be able to make extra repayments up to $5,000 during the fixed term and have access to a free redraw facility.
Interest rates for CUA’s Unsecured Personal Loan start from 10.89% p.a. (11.15% p.a. comparison rate**). There is an upfront fee of $175 to pay with this loan, but after that there are no regular ongoing fees to worry about. You can even choose to pay back your loan weekly, fortnightly or monthly.
CUA’s Secured Car Loan comes with interest rates from 6.79% p.a. (7.16% p.a. comparison rate**) and a string of extra features to make use of, including the ability to make extra repayments and a redraw facility.
With a maximum ongoing interest rate of 1.70% p.a, CUA's eSaver Reward Account is definitely worth checking out. The competitive interest rate is made up of a base rate of 0.05% p.a. and a bonus rate of 1.65% p.a. You can earn the bonus rate by depositing at least $1,000 into your linked CUA Transaction Account each month.
Curious to find out more about the awards? You can read more about how the winners of the 2020 Mozo Experts Choice Awards for Australia’s Best Banking were determined in our methodology report.
*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
**The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans.