Companion Home Loans at an all time low!

After the RBA meeting took place this week the offical cash rate was lowered by 25 basis points to 3.00%. Companion Credit Union will be one of the few to pass on the full 25 basis points to their members.

Our interest rates are at an all time 30 year low, which is great news for home buyers. Given that most banks have decided not to pass on any rate cuts its extremely important for Companion members to receive the full interest rate reduction. Companion Credit Union members can expect to start seeing the benefits immediately starting from the 16th of April.

Our Home loans now start from 4.97%, which is great news for new home owners or anyone seeking out a better deal on their home loan. This is one of the luxurys of banking with Companion Credit Union, our customers are our owners, so we focus on whats best for our members, not share price movements.

Other Major banks such as the Commonwealth Bank, Westpac and ANZ only passed on 10 basis points while National Australia Bank did not cut any of their rates.

April 16th, 2009 | Leave a Comment »