bankmecu is a credit union located throughout Australia
bankmecu has more than 130,000 members and banks, which makes them the biggest credit union in this part of the world. They have thirty three service centres located throughout the whole continent. bankmecu have enormous investment deposits. They have 2 and a half billion dollars in assets and 260 million dollars in investment funds which makes them much stronger then many banks. The best fact to underline the bankmecu strength is the fact that many other credit unions joined them in the few last decades.
Products And Services Offered By bankmecu
The bankmecu products and offerings can divide in three main categories: loans and credit cards, savings and investments, and insurance. In all of these categories, bankmecu is in the top of the lists. They have a large impact on the Australian banking service market.
As a major credit union, bankmecu provides many different loans such as home loans, car loans, personal loans, commercial loans, investments, and also equity loans. They have very competitive interest rates on all those loans. The other thing that is also important is that they offer much better terms then banks. The combination of these two facts makes bankmecu loan offers very attractive.
Also, bankmecu provides two credit cards –conventional Visa and low rate Visa. The low rate Visa has a $59 annual fee and competitive interest rate. On the other hand conventional Visa card is interest free. It means that it is free of interest for up to 55 days and does not have an annual fee. The both cards are good, so the customers should choose the one that suites their needs.
Compare Other Savings Accounts With bankmecu MySaver
Bankmecu mySaver Account
ING DIRECT Savings Maximiser
Bankwest TeleNet Saver
HSBC Serious Saver
ANZ Online Saver
|Maximum Variable Rate||3.75% p.a.||2.75% p.a.||3.90% p.a.||4.00% p.a.||3.80% p.a.||3.82% p.a.|
|Standard Variable Rate||0.25% p.a.||2.75% p.a.||2.50% p.a.||2.70% p.a.||2.50% p.a.||2.50% p.a.|
|Bonus Variable Rate||3.50% p.a.||1.40% p.a.||1.30% p.a.||1.30% p.a.||1.32% p.a.|
|Minimum Opening Deposit||$10||$0||$1||$0||$0||$0|
|Introductory Interest Period||4 month(s)||4 month(s)||3 month(s)||3 month(s)|
|Internet Transaction Fee||$0||$0||$0||$0||$0||$0|
|Phone Transaction Fee||$0||$0||$0||$0||$0||$0|
The other large areas where bankmecu is operating are savings and investments. bankmecu has wide range of different savings products. You can choose between on-line Cyber Saver account, a cash management account, access account, incentive saver and children’s mySaver account. All of these accounts have one common thing. All bankmecu accounts have good interest rate. They also provide easy accessibility to the funds with the use of Internet banking. bankmecu also did not charge any monthly account fees.
In the area of investment products, bankmecu also has a large offer. They are offering term deposits, fixed interest rates, federal deposit guarantees, foreign exchange, community banking and financial planning.
The third large occupation of bankmecu is insurance. bankmecu is doing insurance through underwriters like Allianz and CGU. They are offering several types of insurance: home insurance, contents insurance, car insurance, boat insurance, caravan or trailer insurance, etc.
They are also offering some personal insurance like personal risk insurance, travel insurance and loan cover insurance.
They are dedicated to provide the highest quality of service to a wide range of members and that should have affordable prices. They also have many additional benefits in their insurance offers. In many cases, if you choose one of their insurance offers, you will get another one for free or in half price. They also offer an affordable additional health plan.