Compare People’s Choice Credit Union savings accounts
Saving your dollars for a rainy day can be made easy when you make People’s Choice Credit Union your choice for banking.
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Almost 350,000 people across all of Australia have chosen to bank with the People’s Choice Credit Union. With a history that dates back to 1976, the credit union came into its own in 2009 with the merger of Australian Central and Savings & Loans. Since that time it has been building an impressive list of products to fulfil the banking needs of all Australians.
Despite being a member owned financial institution, People’s Choice Credit Union is still recognised as an Authorised Deposit Taking Institution, making them subject to the same rules and regulations as every Australian bank is. This includes ensuring that deposits of up to $250,000 per person are covered by the Australian Government Guarantee. This works in perfectly with their line of savings products that are designed to meet the various needs of all their members.
Awards that People’s Choice Credit Union has earned
- Smart Investor Magazine’s Credit Union of the Year – Finalist in 2014 for the magazine’s Blue Ribbon Awards
Who is People’s Choice Credit Union?
People’s Choice Credit Union has found ways to ensure that the varying savings needs of their members can be easily met. With accounts designed for kids, Christmas and even long term savings goals, you are given plenty of options to choose between. There are 50 branches located throughout Australia from where you can manage your account, or choose an online saver and take care of your money from home.
- People’s Choice CU SWIFT code: CUSCAU2SXXX
What’s Internet banking like for People’s Choice CU?
People’s Choice CU customers can turn to its online banking platform or mobile banking app to access account related information, to pay bills, and to transfer money. They can turn online to register for e-statements and SMS banking. If you’ve received a new People’s Choice CU access card, you can activate it online.
People's Choice CU makes use of industry-standard encryption to ensure the transfer of data remains secure.
Notable features include:
- Apply for a new transaction, savings, or investment account online
- Register for online banking to get automatic access to BPAY and simplify how you pay bills
What about the mobile app?
Image Source: App Store| Login Page | Dashboard | Payment and Transfer |
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What transaction accounts does People’s Choice Credit Union offer?
- Activate Account. An everyday account designed for students between the ages of 13 and 24, this account features no fees, no minimum balance requirements and easy access to your money using a Visa debit card (applicable for members 16 and older). Transaction of all types are unlimited and free, including ATM withdrawals, online banking, direct debits and branch assisted transactions.
- Everyday Account. For a monthly fee you are provided with unlimited transactions, but use three other products offered by the credit union and you could qualify to have that fee waived. The Everyday Account arms you with a Visa debit card, giving you access to your cash at the point of sale, at an ATM or even online.
- Zip Account. The issued Visa debit card gives you access to your money by using the over 3,400 rediATMs located throughout Australia. Enjoy fee free everyday banking when you also have a home loan through the credit union or can credit at least $2,000 to the account monthly, so long as you don’t receive paper statements.
What high interest savings accounts does People’s Choice Credit Union have?
- Christmas Savings Account. This savings accounts limits your ability to make withdrawals outside of the holiday season. There is no minimum balance requirement, and once the 1st of November rolls around, you can make withdrawals at your local branch or by an online transfer into your transaction account.
- Young Saver Account. Children can earn bonus interest on their savings just by making one monthly deposit of at least $5 with no withdrawals. Interest is paid monthly, showing young people the benefits of saving your money from a young age.
- Bonus Saver Account. Make no withdrawals and at least one $50 deposit each month, and you will receive a bonus rate on your interest with this account. Access is allowed at a branch or online but fees may be applied for teller assisted transactions.
- Online Saver Account. It makes no difference how much deposit, so long as you don’t take any money out, you qualify for bonus interest on your savings balance. This account is only accessible online, yet incurs no monthly maintenance fees.
What term deposits can People’s Choice Credit Union provide?
- Personal Term Investments. Available for savers as young as 13 years of age, term deposits require a minimum deposit of $5,000 and can be opened for anywhere between two months and five years. The longer the terms, the higher the interest rate applied. Plus, with any investment of over one year you can choose to have the interest paid annually, semi-annually, quarterly, monthly, or every 28 days.
What are the pros and cons to banking with People’s Choice Credit Union?
Pros
- Flexibility. The credit union provides you with various options for savings, and for a wide age range of Australians.
- Bonus interest. A number of the savings accounts allow you to earn bonus interest as a reward for good savings habits.
- Fees. By meeting certain conditions, you have the opportunity to have any fees waived.
- Accessibility. The People’s Choice Credit Union makes it easy to manage your savings with online banking and a mobile app for iPhone and Android devices.
Cons
- Criteria. If you are unable to meet the requirements for some of the savings accounts you will lose the opportunity to earn bonus interest.
- Membership. You must be a member of the credit union in order to access and use any of their products.
How do I apply for People’s Choice Credit Union savings account?
You need to compare the accounts offered by People's Choice Credit Union to make sure they suit your personal financial needs and your unique situation. If you decide one of the People's Choice accounts suits your needs, the People’s Choice Credit Union allows for applications for savings accounts to be submitted online. Just click ‘Go to Site’ and you will be securely transferred to their application page. You will need to meet certain criteria before being able to start, including:
- Membership. Only active credit union members are allowed to submit an application. If you are not already a member you will be prompted to join first. This application is also available online and will take approximately 10 to 15 minutes to complete. There are no job or residency requirements, but you will be asked to pay a $2 membership charge.
- Applying. Once you have confirmed your membership, you can login to online banking and continue with your savings account information.
- Underage applicants. If under 18 check to ensure that you are applying for the right account.
You will need to supply supporting documentation to verify your identity. This could be your driver’s licence, passport, or work visa. Once your identity has been confirmed, you will be contacted with the details of your new account.
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Ask an Expert
Hi,
I have $300,000 to invest in a term deposit for 6 months. Where would I get the best rates?
Hi Jude,
Thank you for getting in touch with Finder.
Please check out this page to compare banks for your 6-month term deposit needs. Kindly refer to the comparison table and you may compare banks by looking at their p.a. rate and interest earned.
Once you’ve chosen a provider, you may click on the “Go to site” to be redirected to their official page where you can check more details or even start your application. Please make sure though to read the eligibility criteria, features and details of the term deposit account, as well as the relevant PDS/ T&Cs of the account before making a decision and consider whether the product is right for you.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
What bank ATM in NZ can I use with the lowest or no withdrawal fees using a credit or debit Visa card.
Hi Alec,
Thanks for your question.
Unfortunately People’s Choice don’t have a global ATM alliance. It’s likely that all ATM withdrawals will incur a fee that is charged up to the discretion of the ATM owner.
If you would like to compare alternatives, please see this page.
I WANT TO CHANGE A TERM DEPOSIT TO AN AT CALL ACCOUNT
Hi Malcolm,
Thanks for your question.
Please get in touch with People’s Choice Credit Union directly to change your term deposit. Please be mindful that cancellation fees will apply.
Cheers,
Shirley