The Reserve Bank of Australia (RBA) today lifted official interest rate levels for the third consecutive month. Effective 5th May 2010, the cash rate will rise by an additional 25 basis points to 4.5 per cent. This is the sixth rate rise since October and will put a further strain on those who have recently entered the housing market.
... read moreWe take all instances of fraud very seriously and believe that it’s important to educate our members and the public about the importance of keeping their PINs safe. We hope you can take a look at the new website APCA has recently launced. The site has good advice on how to select a safe PIN and ensure it remains a secret from criminals.
... read moreIn a recent media release the Federal Treasurer, Wayne Swan, has come out and praised Australian Credit Unions and Building Societies.
... read moreThe Reserve Bank of Australia (RBA) has recently raised concerns over the big 4 banks tendency to raise interest rate levels above official rate rises. In its March analysis of rate movements the RBA pointed out that the major banks were guilty of excess pricing, or charging higher interest rates than they needed to.
... read moreOn March 2nd 2010, the Reserve Bank lifted its key interest rate by 25 basis points to 4.00%, adding $50 to the average Australian monthly mortgage repayment.
... read moreAt its meeting today, the Reserve Bank Board decided to leave the cash rate unchanged at 3.75 per cent.
... read moreFor many of us, the New Year can mean enormous credit card debts and infinite store card bills.
... read moreThe minutes from the Reserve Bank of Australia’s December Board meeting have been released stating their monetary policy has returned to a normal range.
... read moreDoesn’t matter what time of year it is, it’s always difficult to save. The hardest part is actually finding the money to put aside once bills, loans and everyday general expenses have been taken care of. What we must do is identify the main barriers to saving and take steps to avoid them.
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The cash rate has been raised by 25 basis points to 3.25% following the RBA Board meeting, taking effect Wednesday 7th October, 2009.
... read moreFor the 5th consecutive month in a row, the RBA has held the cash interest rate unchanged at 3.0 per cent following a board meeting yesterday, 1st September 2009.
... read moreSick of the big banks just getting bigger? Looking for outstanding service, lower fees and competitive rates? If you’re looking for a friendly, professional and ethical banking alternative, then Phoenix Credit Union can help.
... read moreAt its meeting on the 07/07/09, for the third month in a row the RBA decided to leave the cash rate unchanged at 3.0%.
... read moreThere are always going to be times where we don’t have the funds to purchase big ticket items such as a new washing machine, a new TV or even a holiday, in which case credit will be used. Instant credit with the swipe of a card has long been the fast, easy way for consumers to purchase such goods – but it can lead to unmanageable debt.
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Research from financial comparison experts InfoChoice.com.au shows that the reluctance of Australian consumers to shop around for the best deal is costing them $2.7 billion in excess mortgage repayments each year.
... read moreIf you have been thinking about buying a newly built home or building one, then get in quick.
From 1 July until 31 December 2009 stamp duty is reduced by 50 percent on new dwelling purchases up to $600,000.
... read moreRecent media reports have highlighted steps that borrowers can take to deal with financial hardship.
At Phoenix Credit Union, we have always offered help to members who may experience financial hardship. That’s what being member-owned is all about – putting your interests first.
... read moreThe Australian Government has announced that as part of the 2009/2010 Budget, the First Home Owner Grant Boost will be extended to 30 September 2009 (reducing by 50% to 31 December 2009).
... read moreCard Skimming is a method used to illegally capture information contained in the magnetic stripe on the back of your ATM or Credit Card.
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