There is a massive amount of press at the moment regarding the global financial crisis. Understandably, this is feeding concerns and creating uneasiness within the Australian community. Members can be confident dealing with Gateway Credit Union.
Gateway Credit Union has been trading profitably for over 50 years and continues to do so whilst maintaining its standards of excellent service to Members. Gateway is an Authorised Deposit-taking Institution (ADI) regulated under the Banking Act.
We are a prudent and a responsible lender that operates under the same strict prudential standards as every Australian Bank, overseen by the Australian Prudential Regulation Authority (APRA). Gateway does not engage in sub prime lending and has no direct exposure to the US sub prime market
The Australian banking system remains strong and has been further reinforced by the RBA’s recent action to reduce interest rates and the Government’s provision of guarantees for deposits lodged with ADI’s such as Gateway.
Gateway’s products are also strong and the independent rating organisation CANNEX has awarded us a range of high level ratings* including:
- 5 Stars EquitiSmart Home Loan
- 4 Stars Variable Rate Home Loan (Investment)
- 4 Stars 1 year Fixed Rate Home Loan (Standard/Investment)
- 4 Stars Car Loan (New and <5years)
- 5 Stars Dollaroo (Junior Savers)
- 5 Stars eMax Saver (Cash Manager)
- 4 Stars Everyday Savings Account (Cash Manager)
- 3 Stars Christmas Club (Cash Manager)
*Current at 17 September 2008
Gateway Credit Union is fully owned by its Members. Therefore we are not under the same pressure as listed entities to take risks to maximise returns to shareholders. You can trust our experience.
For further information you may like to read a fact sheet from Abacus, the industry association for Credit Unions and Building Societies:
If you have additional questions, please email our CEO at ceo@gatewaycu.com.au or alternatively call Member Services on 1300 302 474.