Established in 1971, Woolworths Employees’ Credit Union is an ‘exclusive’ credit union in that only employees of the Woolworths (Aust) Limited group of companies and their immediate families are eligible to join and use its products and services. It operates under the principle of ‘Once a Member, Always a Member’, which means that if you join during the period of your eligibility and later leave your employ, you may remain a member for the rest of your life.
The credit union’s mission is to help members of the Woolworths family achieve financial security and well-being by providing a range of relevant, competitively priced savings, lending and other financial services. Meanwhile, its values are outlined in the following:
- Moral Integrity
- Excellent service
- Consistent, accurate and responsive
- Ethical, friendly and considerate
- Financially strong, safe and secure
- Sound management
- Competent leadership and governance
It offers its members a better alternative to banks and other deposit-taking institutions. With an understanding and knowledge of the lifestyle needs of the employees of the Woolworths group of companies, it provides quality financial products with competitive interest rates, minimal fees and a friendly, personalised service.
You can contact the credit union in a number of ways: via an online enquiry form, email, phone, post or fax. It also has a line for lost cards, as well as a Fraud Bureau.
Woolworths Employees’ Credit Union offers a range of products and services which includes a selection of savings and investment accounts, home loans, car loans, personal loans, credit cards, insurance products and financial planning. Its home loan products come with features such as variable and lump sum repayments, a redraw facility, no monthly service fees, loan repayment insurance, and automatic repayments (salary/account).
To be able to apply for a home loan with Woolworths Employees’ Credit Union, you will need to become a member first. To do so, you simply need to either apply online in less than 5 minutes or apply using a membership PDF form and invest in one $10 share (which if you prefer may be debited from your first salary deduction). In order to verify your identity, you will need to have identification materials handy – such as your current passport or drivers licence and Medicare card.
For your home loan application, you will need to provide the following in your application form:
- Personal details
- Postal information
- Employment details
- Financial details – including income, expenses, assets and debts
- Home loan details
- Referee details