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New benefits with First Credit Union

Article Date: 
Tuesday, April 28, 2015


Many FIRST Union members will remember United Credit Union (UCU), but on 1 February 2015 UCU members joined forces with First Credit Union.  UCU is now First Credit Union. 

UCU was formed in 1938 as the Post Office Investment Society, a non-profit co-operative bank.

Credit unions, which are co-operatives banks, provide similar services and products as regular banks. Yet credit unions are member-owned and not for profit.

The idea is that a credit union pools members' money which allows them to offer credit to other members at below market rates. First Credit Union aims to improve the financial and social wellbeing of members so thrift is encouraged through savings, sensible use of credit, better interest rates and lower fees. 


First Credit Union offers financial services and products including: loans; savings accounts; investment and everyday banking accounts; AccessDebit MasterCard; EFTPOS cards; mobile banking and insurance.


  • Personal Loans: there is no application, processing or early repayment fees. When taking out a personal loan members are required to open a Loan Provider Savings Account and deposit a minimum of $5 per week. This way you come out of debt with savings.
  • Car Loans: with a pre-approved car loan you’ll have more bargaining power to negotiate a lower price.
  • Debt Consolidation: you can replace your various debts - like hire purchase, credit card, car and overdraft debt - with a simple low interest personal loan.
  • Home Loans - First Credit Union home loans offer competitive interest rates, flexible repayment terms and you won’t be penalised if you want to pay off a little bit extra. Home loans can be pre-approve before you start looking so you know how much you can spend.

To learn more about First Credit Union’s services and how they can help you with your personal loans and savings please visit the website - - or call toll-free on 0800 800 143.



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