Macquarie Credit Union Savings Accounts

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Macquarie Credit Union is a provider of savings accounts, term deposits, home loans, personal loans, business and insurance products.

What savings accounts does Macquarie Credit Union offer?

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

  • General Savings – this account is automatically opened when you become a member of the credit union. At the time of writing, there is no interest paid on this account. 
  • Cheque/Card Account – a savings account with a cheque book and card access. There is no interest paid on this account at the time of writing. 
  • Investment Account – an account with a tiered interest rate depending on your account balance. Interest is calculated daily and paid annually. 
  • Online Savings Account – an account with a tiered interest rate with interest calculated daily and paid monthly. 
  • Gold Retirement Account – available to those over 55-years-old with a Pension/Allowance from the Australian Department of Social Security or Veterans’ Affairs. Features a tiered interest rate with interest calculated daily and paid annually. 
  • Christmas Club Account – designed to help you save for Christmas expenses. Funds are only available from 1 November to 31 January. Interest is calculated daily and paid annually. 

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

Compare Savings Accounts

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

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

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

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Does Macquarie 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, Macquarie Credit Union says it charges no transaction fees or monthly service fees on its General Savings, Gold Retirement Account and Christmas Club Account. It also charges no monthly service fees on its Cheque/Card Account and Investment Account. For a full list of fees and charges, check the information available on Macquarie Credit Union’s website. 

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

Macquarie Credit Union says it offers 24/7 banking via Internet Banking, Mobile Banking and Phone Banking. Macquarie Credit Union says its mobile banking includes features such as:

  • Transfer limits of up to $5,000 per day
  • Ability to view current account balances and transaction history 
  • Ability to view interest earned and charged 

How do I apply for a Macquarie Credit Union savings account?

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

Compare Savings Accounts

If you decide to open a Macquarie Credit Union savings account, you will need to become a member. Macquarie Credit Union says membership is open to employees (and their families) of:

  • Essential Energy
  • Any local government council, any state government department, any federal government department, Australia Post or Telstra employee residing in NSW or the ACT
  • Auscott Ltd
  • Macquarie Credit Union Limited
  • Employees of local government areas of Dubbo, Narromine, Gilgandra, Warren, Cobar, Coonamble and Nyngan 

Once you are a member, you can then open a savings account online, at a Macquarie Credit Union branch or over the phone. 

About Macquarie Credit Union 

Macquarie Credit Union was formed in 1964 by electricity workers of the Macquarie County Council. Over the years, Macquarie Credit Union has broadened its membership base to include Government workers and anyone residing in the local government areas of Dubbo, Narromine, Gilgandra, Warren, Cobar, Coonamble and Nyngan.

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Written by: Tamika Seeto | Last updated: July 17, 2019