Compare Illawarra Credit Union savings accounts

With convenient accessibility including a mobile lending team, Illawarra Credit Union makes it easy to manage your money.

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Illawarra Credit Union

Illawarra Credit Union has been growing since 1972, and is now a division of Community Alliance Credit Union Limited, which allows for a larger selection of services and products that are comparable to big banks. Local branches can be found throughout Illawarra, but all Australians can bank with the credit union with the use of online and mobile services and ATM access provided by one of the nation’s largest networks.

Product Finder Score Maximum Variable Rate p.a. Base interest rate Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
Illawarra Credit Union logo
Finder score
Maximum Variable Rate p.a.
2.25%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $10
  • No withdrawals
  • Balances up to $25,000
View details
Illawarra Credit Union Saver
Illawarra Credit Union logo
Finder score
Maximum Variable Rate p.a.
2.25%
Standard Variable Rate p.a.
2.25%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
Illawarra Credit Union Bonus Saver
Illawarra Credit Union logo
Finder score
Maximum Variable Rate p.a.
4.00%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $100
  • No withdrawals
  • Balance up to $1,999,999
View details
Illawarra Credit Union Cash Management
Illawarra Credit Union logo
Finder score
Maximum Variable Rate p.a.
0.25%
Standard Variable Rate p.a.
0.25%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
Illawarra Credit Union Christmas Account
Illawarra Credit Union logo
Finder score
Maximum Variable Rate p.a.
0.40%
Standard Variable Rate p.a.
0.40%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
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How the Finder Score helps you find a better savings account

The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.

We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?

Read the full Finder Score breakdown

Name Monthly fee Govt. Guarantee Own network ATM fee Card type
Illawarra Credit Union Everyday Account
Illawarra Credit Union logo
Apple Pay Google Pay Samsung Pay Garmin Pay
Monthly fee
$6
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More info
Illawarra Credit Union Everyday Plus
Illawarra Credit Union logo
Apple Pay Google Pay Samsung Pay Garmin Pay
Monthly fee
$6
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Illawarra Credit Union Bucket Account
Illawarra Credit Union logo
Monthly fee
$0
Government Guarantee
Own network ATM fee
Card type
No Debit card
Illawarra Credit Union Everyday Student
Illawarra Credit Union logo
Apple Pay Google Pay Samsung Pay Garmin Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More info
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Showing 4 of 4 results

Name 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 11 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Illawarra Credit Union Term Deposit
Illawarra Credit Union logo
$1,000 min. deposit
3 Mths p.a.
4.25%
4 Mths p.a.
4.25%
5 Mths p.a.
4.25%
6 Mths p.a.
4.40%
7 Mths p.a.
4.40%
11 Mths p.a.
4.40%
12 Mths p.a.
4.40%
24 Mths p.a.
-
More Info
Illawarra Credit Union Business Term Deposit
Illawarra Credit Union logo
$1,000 min. deposit
3 Mths p.a.
4.25%
4 Mths p.a.
4.25%
5 Mths p.a.
4.25%
6 Mths p.a.
4.40%
7 Mths p.a.
4.40%
11 Mths p.a.
4.40%
12 Mths p.a.
4.40%
24 Mths p.a.
-
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Showing 2 of 2 results
1 - 12 of 180
Product Finder Score Maximum Variable Rate p.a. Base interest rate Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
Rabobank logo
Finder score
Maximum Variable Rate p.a.
5.45%
Standard Variable Rate p.a.
4.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Earn a high interest rate of 5.45% for the first 4 months and then 4% thereafter, with $0 account keeping fees and no monthly balance requirements.
ING logo
Finder score
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
0.05%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
  • Balances up to $100,000
Suncorp Bank logo
Finder score
Maximum Variable Rate p.a.
4.80%
Standard Variable Rate p.a.
0.35%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance by $200 each month (excl. interest)
  • Only 1 withdrawal
  • No balance limit on earning interest
Get a solid interest rate on your entire balance, with minimal conditions in order to get the max rate. This account doesn’t offer card access but you can make 1 withdrawal per month & grow your net balance by $200 (excl. interest) to earn the max rate.
ING logo
Finder score
Maximum Variable Rate p.a.
5.15%
Standard Variable Rate p.a.
4.45%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Ideal for higher balances, savers can earn up to 5.15% for the first 4 months and up to 4.45% thereafter. There are no conditions and $0 account-keeping fees.
St.George Bank logo
Finder score
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
1.60%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance $50 ($0.01 if under 21)
  • Balance up to $249,999.99
Extra 0.10% p.a. for 3 months for new customers who apply online, balances under $250k.
Macquarie Bank logo
Finder score
Maximum Variable Rate p.a.
5.10%
Standard Variable Rate p.a.
4.75%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
BOQ logo
Finder score
Maximum Variable Rate p.a.
4.55%
Standard Variable Rate p.a.
4.55%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $5,000,000
Open up to 9 accounts to take control of your savings and don't worry about meeting fiddly conditions or paying frustrating fees.
Newcastle Permanent logo
Finder score
Maximum Variable Rate p.a.
4.25%
Standard Variable Rate p.a.
0.05%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance
  • No more than 2 withdrawals
Westpac logo
Finder score
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
1.60%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Make a deposit
  • Grow your balance
  • 5 debit card purchases
  • Balances up to $30,000
BOQ logo
Finder score
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.05%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 eligible transactions
  • Balances up to $50,000
BCU logo
Finder score
Maximum Variable Rate p.a.
4.75%
Standard Variable Rate p.a.
0.25%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
IMB logo
Finder score
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $20+ each month
  • No withdrawals
You can open this account if you are aged 13 to 17, or if you're a student, trainee or apprentice aged 18 to 30.
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How the Finder Score helps you find a better savings account

The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.

We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?

Read the full Finder Score breakdown

Who is Illawarra Credit Union?

Illawarra Credit Union offers banking products to their members that meet the needs at every stage of life. From transaction accounts that pay interest to savings accounts that are geared to meet a specific need, each product is comparable to what you find with larger financial institutions. Banking is made easy if you are outside of the Illawarra region with access to your money through the rediATM network and to your accounts online, from your mobile device, or over the phone.

What is internet banking like for Illawarra Credit Union?

You are provided with multiple means of accessing your accounts around the clock, including through Illawarra Credit Union’s online banking system. Using encryption technology to protect your funds, you can bank with confidence from anywhere in the world.

Setting up internet banking is simple once you have been given your member number and special access code. Once you have registered for the service you can login and begin to make your transactions through the many features they provide you.

Notable features include:

  • Accessibility from anywhere at anytime
  • Money transfers between accounts
  • Money transfers to other financial institutions
  • Real time balance updates
  • Setting up your regular payments to be made electronically
  • The use of BPAY to pay your bills on time

What about the mobile app?

Image Source: App Store
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What transaction accounts are offered by Illawarra Credit Union?

  • Everyday Student. A transaction account for students with no monthly account keeping fees.
  • Everyday. A day to day banking account that can meet all of your financial needs. You can choose between a rediCARD or Visa debit card to make purchases or get cash when you need it, while maintaining control over your transaction fees.
  • Everyday Plus. Designed exclusively for Australians receiving a pension, this account provides you with the same access as the standard Everyday Account, except you earn a competitive interest rate on your balance which is paid into your account once a quarter.

What high interest savings accounts are offered by Illawarra Credit Union?

  • Wildlife Saver. Not only do children under the age of 18 earn bonus interest on their savings when monthly conditions are met, they get free entry into the Symbio Wildlife Park along with other freebies once inside.
  • Saver. With access limited to online and phone transfers, you are rewarded with a competitive rate of interest on your balance, with payments made into the account monthly. There are no deposit requirements to meet and you will not be charged any fees.
  • Bonus Saver. You are given all of the benefits that the Saver Account provides, only with a higher interest rate for meeting the monthly deposit requirements. This account provides a way to meet a goal without giving up access to your money.

What term deposits are offered by Illawarra Credit Union?

By restricting access to your money for a set period of time, you can earn a fixed interest rate on your deposits starting at $1,000. Choose between terms that range from one month to three years and how often your interest earnings are paid into a nominated account.

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What are the pros and cons of banking with Illawarra Credit Union?

Pros

  • Accessibility. With Visa debit card, rediATM and internet access available, you will find it easy to keep on top of your accounts.
  • Bonus interest. With a number of the savings accounts offered you have the opportunity to increase your funds with bonus interest.
  • Mobile app. Available for android and iPhone, the mobile app from Illawarra Credit Union lets you access your accounts at any time.
  • Term deposit. You are given the opportunity to increase your monthly income by choosing to receive your interest earnings with more frequency.

Cons

  • Membership. You do need to apply for membership to open any account with the credit union. This entails filling out an online application form and paying $2 for your share.
  • Branch availability. Branch banking is limited due to them being localised to one region of Australia.
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How do I apply for an Illawarra Credit Union account?

So long as you have already been approved for membership, you are able to apply for any account online. The age requirement and how much money you need as an initial deposit will depend on the account you are interested in, but all applicants must be permanent residents or Australian citizens. Have your photo identification ready and your tax file number (TFN) to avoid deductions on your interest earnings. After submitting your request for an account, you will hear back from the credit union with the details of your new account.

Compare other products from Illawara Credit Union

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Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs. See full bio

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