Southern Cross Credit Union

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How Much do I Need for a Home Loan Deposit?

Deposit-Image
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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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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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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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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