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How Much do I Need for a Home Loan Deposit?

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Trying to get a deposit together can mean knuckling down and saving hard for a while. It might mean having less of your favourite things, or even living with the parents until you've reached that goal. So at what point can you breathe a sigh of relief and start looking for your new home? How Much do I Need for a Deposit? Ideally you will have ...
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Dealing with Unauthorised Transactions

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Have you ever come across a transaction on your bank account that you don't recognise? Sometimes these mystery transactions turn out to be legitimate, but other times they don't. Having an unauthorised transaction appear on your account can be a worrying experience, particularly if you're unsure whether you'll ever see your money again. What i...
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Paid the Wrong Account: What Now?

Mistaken Internet Payments
Did you know that if you make a Mistaken Internet Payment, there is a real risk of losing your money, regardless of who you bank with? What is a Mistaken Internet Payment? ​ A Mistaken Internet Payment happens when you transfer money to an unintended recipient using the 'Pay Anyone' function in NetBanking. It may occur because you were provided wit...
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What do Comparison Rates Tell us?

Understanding Comparison Rates
Comparison rates help us to compare loan products. They are designed to enable us to compare apples with apples, when it comes to the total cost of lending products, but unfortunately they don't paint the whole picture. What is a Comparison Rate? A comparison rate provides a simplified way to compare the effective cost of a loan product against oth...
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SCCU raises over $5,000 for the Leukaemia Foundation

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On Sunday, Southern Cross Credit Union hosted a Greatest Shave Event at Kingscliff Beach Hotel. More than 100 people turned out to witness and participate in a procession of mass hair shaving and colouring in support of the Leukaemia Foundation. With contributions flowing in through sponsorships, raffles and the auctioning of shaving rights, we man...
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Ballina Financial Service Centre Now Open

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Your new Financial Service Centre in Ballina is now open.  Come down and check out the new facilities; our team will be on hand to  show you around and discuss any questions you may have about your banking needs. As part of our on-going commitment to invest in the Northern Rivers, the existing SCCU branch in Ballina underwe...
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How your TFN can Save you Money!

Piggy Bank
Have you provided your TFN or ABN to your financial institution?  If not, then it's probably costing you money! Did you know that Withholding Tax is applied to interest payments on accounts owned by non-residents of Australia? From the ATO's perspective, if the institution you bank with does not have your Tax File Number (TFN) or ABN assigned ...
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2018 Retro Charity Cup Announced as SCCU Community Partner

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We are proud to announce Cabarita's 2018 Retro Charity Cup as our latest Community Partners for 2018. The Charity Cup is an annual non-profit fundraiser which raises money for local families that have been struck with financial difficulty through injury or sickness. Through our Community Partnership program, we have donated $3,000 to this year's ev...
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SCCU Presents 2017 Community Grants

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Each year we offer three grants to groups working on a project or event that benefits our local communities in the areas of Art & Culture, Education, Sport & Recreation, Environment and Health & Well-being.   As the awarding of our Community Grants for 2017 draws to a close we take a look at the successful recipients and how t...
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SCCU wins Business Excellence Award for Second Year Running

SCCU Awarded Northern Rivers Business Excellence Award
A big thank you goes out to our entire SCCU family as we took out the Excellence in Professional Services Award at the Northern Rivers Business Excellence Awards for the second year running. CEO Stuart Edwards said "Receiving the awards was acknowledgement of our teams' hard work, dedication and commitment to providing professional and ex...
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The Effect of APRA's Recent Lending Measures on Investor Finance

Property Investment
This year has seen significant change in the finance industry, particularly around regulation of interest-only and investment property loans. On 31st March, the Australian Prudential Regulation Authority (APRA) implemented new measures to "reinforce sound residential mortgage lending practices in an environment of heightened risks." These changes t...
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What's Your Credit Score?

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Your Credit Score can sometimes be the difference between moving into your dream home and living in a crummy rental for eternity. But do any of us really know what a Credit Score is or what it means?  So, this week I applied for a new credit card. Going through the application process and awaiting the outcome, it prompted me to ask myself, wha...
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Jump on Board the Credit Union Movement!

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Does your financial institution really have your best interest at heart? If you get passed from person-to-person a lot, are not provided with clear explanations of important information or your institution invests in projects that harm the environment, then the answer is Probably Not! Look, this can be an undesirable part of the finance industry bu...
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NSW Budget Provides Some Relief for Home Buyers

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NSW Treasurer Dominic Perrottet has unveiled a budget "that builds for the next generation" in his budget speech on 20 June 2017.This year's budget is said to prioritise investment in the "trifecta" of infrastructure, healthcare and hospitals, as well as education, however, a review of the budgeted spending shows that infrastructure is the key focu...
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Travel Money – What are My Options?

Travel Map and Equipment
Security. Accessibility. Exchange rates. Hidden costs!  These are all things we worry about when considering how to pay for expenses when travelling overseas. Whether you are a first time traveller or a seasoned nomad, assessing the options available before setting foot on the plane can make a big difference to your travel experience. As with ...
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$1.1 Billion in Forgotten Money

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Forgotten about that old bank account? "There are more than a million records of unclaimed money from dormant bank accounts, life insurance, shares and other investments waiting to be claimed and we're keen to reunite people with their money" Peter Kell, Deputy Chairman of ASIC In April,  The Australian Securities and Investments Commissi...
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Reimagining Banking

Reimagining Banking
Following a successful period of growth and expansion, Southern Cross Credit Union are reinventing the way they deliver banking in the Northern Rivers. The project team at SCCU, led by CEO Stuart Edwards, are guided by their belief in building and maintaining meaningful relationships with their customers. "At a time when many financial institu...
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