The Community First Market Account combines money market rates without the minimum commitments. Just deposit $5,000 or more after you apply. Withdraw your money when you want it for free at a branch or by making electronic withdrawals. This account doesn’t include Visa or EFTPOS card access.
0.15% p.a.
Maximum variable rate
0.05%p.a.
Base interest rate
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
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.
Key features
Minimum opening balance
You need to deposit at least $5,000 to open the Community First Money Market Account. One the account is opened, there are no ongoing minimum balance requirements.
Interest
The Community First Money Market Account rewards you with a stepped rate of interest, different rates of interest apply to different account balances.
Account access
There are no restrictions about when you can and can't withdraw your money. This account does not offer debit or EFTPOS card access. To make withdrawals funds must be withdrawn over the counter or transferred to another account using the Community First internet or telephone banking facilities.
Internet banking
Internet banking allows you to view your account balance, interest earned and make payments. Instantly transfer money to other Community First Accounts or make an electronic transfers to accounts with other financial institutions. Transfers to non-Community First accounts can take up to three business days. You're automatically registered for internet banking when you apply for this account.
BPAY
Pay bills from the telephone and internet banking using BPAY. BPAY payments can be organised up to a year in advance.
Direct debit
Set up a direct debit agreement to automatically make recurring payments to billers like telecommunications providers.
Over the counter withdrawals
Get cash out from the Money Market Account over the counter at a Community First service centre. You can also elect to receive an over the counter cheque.
NAB Deposit Book
Make deposits to the Money Market Account at NAB branches using the NAB Deposit book issued by Community First.
Making deposits
Get your salary paid to the Money Market account, make an over the counter cash or cheque deposits or transfer funds to this account using internet or telephone banking.
Direct credit
This account supports payroll credit. Get your employer to deposit your pay into the Community First Money Market Account.
Contributes to the Community First Member Allowance
Meet the Money Market Account minimum deposit requirement and you can get a partial or total discount on the transaction fees applicable to other eligible Community First accounts.
Government guarantee
Deposits up to $250,000 are guaranteed by the federal government.
How to apply
Visit the Community First website to launch the online application. To apply for this account, you'll need to become a Community First member.
Eligibility
The following eligibility requirements apply
Minimum deposit. You need to deposit at least $5,000 in the Community First Money market Account when you apply for this account.
Community First Member. You need to become a member of Community First to apply for the Money Market Account. Buy a refundable $2.00 share in the credit union when you apply for this account. Enter your transaction or savings account name, BSB and account number so Community First can debit the account for the membership share.
Documentation needed
You need to provide your contact information and provide an eligible form of identification to complete the online application for the Community First Money Market Account.
Information. Enter your basic contact information such as your name, date of birth, residential address, best contact number, email, occupation and country of citizenship.
Identification. New Community First members must verify their identity. Ensure you have documents such as your drivers licence, Australian or foreign passport or proof of age card. Community First will inform you about other acceptable forms of identification if you don't have one of the above.
Tax. You do not have to provide your Tax File Number to Community First. The credit union will withhold tax on your interest earnings at the marginal tax rate if you don't provide this information.
What happens after I submit my application?
Once you have submitted the application for this account, Community First will contact you to verify your application so you can start making deposits to the Money Market Account.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
