Business

BCU is now the Credit Union of the Year

THRILLED: bcu has been awarded Money Magazine's Credit Union of the Year for 2016. Pictured is the area manager from bcu's Lismore store, Peter Jarvis (right) with, from left, Steve Anderson, Elke Moser, James Hardgrave and Neil Boyd.
THRILLED: bcu has been awarded Money Magazine's Credit Union of the Year for 2016. Pictured is the area manager from bcu's Lismore store, Peter Jarvis (right) with, from left, Steve Anderson, Elke Moser, James Hardgrave and Neil Boyd.

BCU'S story is an inspiring one. Established by the local banana growers of Macksville in the early 1970s, it is now one of the leading credit unions in the country and has recently been awarded Money Magazine's Credit Union of the Year for 2016.

Runner-up in 2015, bcu has risen to top spot this year in the magazine's prestigious Credit Union of the Year category. bcu's chief executive Lyndon Kingston said the win was a huge honour.

"There are some great financial institutions in the running for this award offering some fantastic products, and for bcu to top the list is a testament to bcu's staff," he said.

"We are proud of all of our products and services as we believe they offer value, which is what we strive to achieve for our customers. This award helps support our commitment to providing trusted banking to customers at every stage of their life."

The area manager from bcu's Lismore store, Peter Jarvis, said: "We were thrilled to receive the Money Magazine award. It gives our customers the assurance that they are banking with a brand they can trust. Our aim is to continue to attract more customers to take advantage of our great value products."

"This outcome for bcu is recognition of consistently delivering relevant products with fair fees to their customers," said Mitchell Watson, the group manager of research and ratings at Canstar, which researches and rates more than 16,000 products across 40 different categories including banking, insurance and wealth for the Australian public.

Mr Watson said the product line that stood out for bcu was its home loans.

"It is currently advertising extremely competitive rates for its one, three and five-year fixed loans," he says.

According to Mr Watson, bcu also had a great rewards credit card.

"The Rewarder offers one of the simplest credit card rewards programs in the market," he said. "The interest rate of 16.8% per annum on purchases and cash advances is far below that of its competitors."

Mr Kingston said while bcu couldn't be the best in every product, "we strive to offer genuine value across all of our products and across a customer's life with bcu, as opposed to offering value in one product only, or for a short period of time".

Topics:  bananacoast credit union, bcu, credit union of the year, money magazine



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