Illawarra Credit Union Everyday Student
Australian university students can combine their savings and spending into one convenient UniSaver Account.
The UniSaver Account from Illawarra Credit Union gives university and TAFE students the opportunity to earn some interest on their balance while still having complete access to the money to fund their school needs. Accounts are accompanied with a Visa debit card, providing you with an easy option to make your purchases and withdrawals.
Account keeping fee
ATM withdrawal fee
Overseas ATM withdrawal fee
Overseas transaction fee
of transaction value
|Product Name||Illawarra Credit Union Everyday Student|
|Monthly account fee||$0|
|ATM Withdrawal Fee||$0|
|International ATM Fee||$2 + 3%|
|International transaction fee||3%|
|Monthly deposit required to waive account fee||N/A|
|Contactless Payments||Google Pay, Apple Pay, Samsung Pay, Garmin Pay|
Credit union membership
All Illawarra Credit Union accounts are only available to current members. There are no special criteria to meet in order to become one other than paying a $2 fee for your share in the institution.
Monthly account keeping fees
Monthly account keeping fees are waived for UniSaver account holders.
You are not charged a fee for your everyday transactions.
Your account will earn interest based on the balance. The interest rates are tiered, and grow higher in value as your balance grows.
The fixed interest rate is applied to your daily balance with earnings paid into the account quarterly.
You are able to access the account over the phone and through internet and mobile banking. You can also make over the counter and electronic transactions such as BPAY and direct credit and debits.
Accessing your money
The account comes linked with a Visa debit card that can be used with EFTPOS, to make purchases online and over the phone and to make cash withdrawals that are deducted right from your account balance.
You can use any rediATM in Australia to make withdrawals without being charged for the transaction. Using an ATM outside of this network will result in charges being made to your account from the provider.
You are limited to making no more than $1,000 in ATM and EFTPOS transaction combined daily total.
This account is only available for Australian University and TAFE students.
How to apply
The application for the UniSaver account can be accessed on their website. Remember that you will first need to become a member of the Illawarra Credit Union which can also be done by filling out an online application and paying the $2 membership fee. There are also other eligibility requirements for this account that you should make yourself aware of before beginning to apply:
- Minimum age. While there is no age stipulation for this account, you must be enrolled in an Australian university or with TAFE in order to be eligible for this account.
- Residency requirements. The only individuals eligible for this account are Australian permanent residents and citizens.
- Depository requirements. A minimum of one dollar is required in order for this account to be activated in your name.
If you are eligible to apply for this account, get the following documentation ready in order to ensure that it is filled out completely and correctly:
- Tax file number. As this is an interest earning account, Illawarra Credit Union is required to withhold tax on the interest earnings. They will do this at the highest marginal rate if you do not provide them with your tax file number (TFN) or TFN exemption code.
- Identification. In order to verify your identity to Illawarra Credit Union you will need to provide your driver's licence or passport.
- Membership number. Your Illawarra Credit Union membership number is also needed when filling out the application.
What happens after I submit my application?
After submitting your application Illawarra Credit Union will check and verify the details before issuing you an account that bears your name. You will then be mailed your Visa debit card so that you can begin making your daily transactions.