Service & Lending Fee Changes
Service & lending fee changes
While we’re now a bigger and better credit union as a result of the merger, we remain focused on providing our members with outstanding value.
In all, ten fees are being removed or abolished for Australian Central members and 16 for Savings & Loans members.
All the changes for Australian Central members effective 1 September are listed below. Members will also receive details of the fee changes with their June statements.
If you have any questions about the changes to our fees, see our Frequently Asked Questions section.
Changes to Service Charges for personal and business members:
Business & Community account changes:
| Fee | Existing Fee | From 1 September | Difference |
|---|
| Fees that will reduce: |
| Business Name Search |
$21.50 |
$20.00 |
-$1.60 |
| Fees that will increase: |
| Company Name Search |
$12.00 |
$20.00 |
$8.00 |
|
Loan account changes:
| Fee | Existing Fee | From 1 September | Difference |
|---|
| Fees that will be removed and no longer apply: |
| Administration Charge |
$30.00 |
Removed |
-$30.00 |
| Personal Loan Discharge Fee |
$50.00 |
Removed |
-$50.00 |
| Fees that will reduce: |
| Quick Debit Dishonour |
$22.00 |
$15.00 |
-$7.00 |
| Fees that will change: |
| Additional Security Fee |
$150.00 |
$150.00 per occurance |
|
| Mortage Consent Fee |
$100.00 |
Variable |
| Deed Preparation Fee |
$75.00 |
| Documentation Fee |
$55.00 |
| Switching Fee |
$299.00-$400.00 |
$300.00 |
Variable |
| Early Repayment Fee |
$150.00 |
$150.00 at each anniversary of drawdown |
Only charged for partial early repayments on fixed rate loans on an annual basis. |
| Fees that will increase: |
| Discharge of Mortgage Fee |
$340.00 |
$350.00 first security |
$10.00 |
| Fees that will be introduced: |
| Portability Fee |
- |
$300.00 per security |
A new service that allows members to substitute a security currently held with Australian Central on their loan. |
| Preparation of Substitute Bill of Sale |
- |
$75.00 |
Payable when a bill of sale is substituted on an existing personal loan. |
Service Fees:
| Fee | Existing Fee | From 1 September | Difference |
|---|
| Fees that will be removed and no longer apply: |
| Periodical Payment Cancellation |
$1.00 |
Removed |
-$1.00 |
| Declined Card or Cash Advance |
$80.00 |
Removed |
-$80.00 |
| nab Encashment |
Up to $10.00 |
Removed |
Service no longer offered |
| Fees that will reduce: |
| Direct Debit Dishonour |
$35.00 |
$15.00 |
-$20.00 |
| Cheque Search |
$20.00 |
$10.00 |
-$10.00 |
| Dishonoured Cheque (outward) |
$35.00 |
$15.00 |
-$20.00 |
| Fees that will change: |
| Additional Security Fee |
$150.00 |
$150.00 per occurance |
|
| Mortage Consent Fee |
$100.00 |
Variable |
| Deed Preparation Fee |
$75.00 |
| Documentation Fee |
$55.00 |
| Switching Fee |
$299.00-$400.00 |
$300.00 |
Variable |
| Early Repayment Fee |
$150.00 |
$150.00 at each anniversary of drawdown |
Only charged for partial early repayments on fixed rate loans on an annual basis. |
| Fees that will increase: |
| Discharge of Mortgage Fee |
$340.00 |
$350.00 first security |
$10.00 |
| Fees that will be introduced: |
| Portability Fee |
- |
$300.00 per security |
A new service that allows members to substitute a security currently held with Australian Central on their loan. |
| Preparation of Substitute Bill of Sale |
- |
$75.00 |
Payable when a bill of sale is substituted on an existing personal loan. |
