Illawarra Credit Union Savings Accounts

Illawarra CU

Illawarra Credit Union is a provider of savings accounts and a range of other personal and business banking products such as transaction accounts and term deposits.

What savings accounts does Illawarra Credit Union offer?

At the time of writing, Illawarra Credit Union offers the following savings accounts: 

  • Saver – pays a tiered interest rate depending on your account balance. 
  • Bonus Saver – pays bonus interest when you deposit at least $100 and make no withdrawals during the month. 
  • Wildlife Saver – for members under the age of 14. Pays bonus interest when you make at least one deposit and no withdrawals in a month. When you open an account you’ll also receive Wildlife Saver merchandise and a pass to Symbio Wildlife Park.

You can view the current interest rates on some of Illawarra Credit Union’s savings accounts in Canstar’s comparison tables.

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Do Illawarra Credit Union savings accounts require a linked transaction account?

Illawarra Credit Union does not specify if its savings accounts require a linked transaction account. For more information, contact Illawarra Credit Union. 

If you are looking to compare transaction accounts, you can use Canstar’s comparison tables to potentially find one that suits your requirements.

Does Illawarra Credit Union charge fees on its savings accounts?

Savings accounts can come with several fees, such as monthly account-keeping fees, transaction fees, withdrawal fees and more. At the time of writing, Illawarra Credit Union says no account keeping fees apply to its savings account. It also says there are no transaction fees on its Saver and Bonus Saver accounts. Read Illawarra Credit Union’s Fees, Charges and Transaction Limits brochure for further information on any fees that may apply. 

What does Illawarra Credit Union offer in terms of mobile banking for savings accounts?

moneytree is Illawarra Credit Union’s mobile banking app. moneytree is available for download from the Apple Store and Google Play. Features of the app include:

  • 24/7 access to check your account balance and recent transactions, make payments and transfer money
  • Ability to set a savings goal which you can link to a nominated account
  • Use of a savings calculator

How do I apply for an Illawarra Credit Union savings account?

Before applying for an Illawarra Credit Union savings account, consider comparing it against other savings accounts on the market to ensure it’s the right one for you. 

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If you choose to open an Illawarra Credit Union savings account, Illawarra Credit Union says you will need to become a member of the credit union. In order to become a member, you’ll need some form of photo ID such as a driver’s license or a passport at hand. 

You can then open a savings account online or in person at an Illawarra Credit Union branch. 

About Illawarra Credit Union 

Illawarra Credit Union has been operating in the Illawarra region of New South Wales for over 46 years. Illawarra Credit Union is part of the customer owned banking sector and says it serves four million members throughout Australia.

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Written by: Tamika Seeto | Last updated: July 25, 2019