My Credit Union Credit Cards

My Credit Union Internet Banking allows you to check your transaction history and interest-applicable balance on your card, as well as to view statements, make balance transfers and make interest payments.

You can also do these same things using the mobile banking app MYCU, which includes Visa payWave functionality that lets you make card payments using your smartphone. If you’re unable to access internet banking, you can always use My Credit Union’s 24/7 phone banking service from anywhere in Australia.

Interest on your My Credit Union credit card is calculated daily on your outstanding balance, and billed to you at the end of each month. Your annual interest rate is converted into a daily rate and multiplied by your credit card transactions each day, before being added to your total payment and charged to you each month on your statement.

Interest will not be charged to you during your 55-day interest-free period, assuming you have paid your previous month’s statement in full and on time.

My Credit Union’s minimum credit limit is $1,000, but your credit limit is dependent on what you choose to apply for and on your personal circumstances. If you have a decent income and few debts or liabilities, you may be approved for quite a high monthly credit limit; if your credit history isn’t stellar, or you have significant debts, My Credit Union may not allow you a very high credit limit.

You can close your My Credit Union account by calling the company on 1300 655 116 and talking to a My Credit Union representative who will help you through the process.

My Credit Union is a Sydney-based credit union that was created in its current form back in 2011, following the merger of Resources Credit Union with Industries Mutual Credit Union. The first incarnation of My Credit Union was back in 1961, when the Irrigation Commission Credit Union was formed to service the needs of NSW Government employees in the resources sector.

Over the following two decades, membership to the credit union was extended to multiple other government commissions, and various smaller credit unions merged, including the Housing Commission and Mater Hospital credit unions. In 1983, membership was opened to the public and the name changed to Resources Credit Union.

Industries Mutual Credit Union had a similar history, established in 1967 to serve employees of the NSW Department of Health. Several local credit unions joined after the turn of the century, before Industries Mutual merged with Resources Credit Union to better serve the needs of the lower North Shore community.