Call: 07 5499 8988
email: info(at)mcusb(dot)com(dot)au
Media Release
Maleny Credit Union keeps its Home Loan Rates Increase under the Reserve Bank of Australia’s 0.25% Increase in its Cash Rate
October 2009
In light of the Maleny Credit Union’s (MCU) strong performance in the past financial year where our net profit after tax increased by 11.2%, MCU will only be increasing its home loan rates set out below by 0.15% p.a. instead of the Reserve Bank of Australia’s 0.25% p.a. increase in its cash rate.
MCU’s new home loan variable interest rates will be as follows:
|
Type |
New Rate p.a. |
New Loans Effective Date |
Existing Loans Effective Date |
|
Enviro Home Loan |
5.20% |
9/10/09 |
2/11/09 |
|
Cool Home Loan |
5.45% |
9/10/09 |
2/11/09 |
|
Advantages Plus Home Loan |
5.45% |
9/10/09 |
2/11/09 |
|
Advantages Plus Home Loan Revolving Line of Credit |
5.45% |
9/10/09 |
2/11/09 |
|
Standard Variable Home Loan |
5.95% |
9/10/09 |
2/11/09 |
“MCU is in a position to provide a lower increase in home loan rates as its conservatively managed and operated, and the Credit Union was not directly affected by the global financial crisis, as we do not engage in sub-prime lending and/or don’t rely on the volatile wholesale funding market. The Credit Union continues to add value to its members with attractive interest rates on both deposits and loans.” says Maleny Credit Union CEO, Greg Stevens.
MCU’s attractive Green Star car loan rates will remain unchanged, which start at 6.99% p.a.
About MCU
