Great Southern Bank (formerly CUA) has over 400,000 members and more than 70 branches on the East Coast of Australia and in Perth. Named Australia's Best Large Credit Union in the 2020 Mozo Experts Choice Awards, it aims to be Australia's leading member-owned banking alternative. In 2021, it also became the proud owner of two Mozo People's Choice Awards for the Excellent Customer Service and Highly Trusted categories.
Being 100% member-owned means that it’s able to direct its profits into developing its competitive banking services. So if you're after a change for the better, check out Great Southern Bank’s range of home loans, personal loans, credit cards, savings accounts and more.
Cheapest interest rate on variable
A young bank prior to being a credit union, prefered when still a credit union
Not possible to setup an SMSF Term Deposit online even if you already have an SMSF account with the bank. Their claim of taking just 5 minutes to set up a Term Deposit is false.
Great Southern Bank’s fixed personal loan offers competitive rates, flexible terms, and excellent customer service. Pros include stable rates and responsive support. Cons are potential early repayment fees and fewer online features compared to some competitors.
Please the positive reviews are all quite some time ago before their current deceptive interest rates. The 5.49% rate advertised is rarely given even with an excellent credit report within the required score range. The staff at Great Southern Bank have been consistently arrogant and rude and refuse to connect you to a manager for assistance and hang up on you rather than assist! We are current customers with them and always hope each phone call results in great and helpful service , but as is ALWAYS the case the service is beyond appalling. BEWARE it has been our long term experience many many times that they are helpful until you are tied into a contract then the after sales service is beyond appalling!! I can’t emphasise enough to all the young people working hard to get ahead to stay away from this bank! BEWARE of their deceptive advertising and check other financial institutions for better deals and honesty and SERVICE!
After doing extensive research, I found Great Southern Bank provided the most competitive offers especially when it came to the potential for a Balance Transfer offer on Credit Cards, which is incredibly timely due to the current cost of living crisis affecting so many Australians. Their customer service is friendly, approachable & with a can-do attitude. Will definitely look to Great Southern Bank for future banking needs.
Great Southern Bank (aka Credit Union Australia) has always been a proactive bank. Within the first year of joining them, they recommended a VISA debit card, so that I could save on the fees I was paying. When I though about opening my Everyday account, they also recommended some changes to my primary account, to save on fees. The only downside is that they no longer have their "own" ATM network. However, you can use any ATM, and you pay no transaction fees to use any ATM from the major banks.
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