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Haven’t heard of Hunter United? While we see and hear from the big banks on a daily basis, there are dozens of mutuals around the country that seemingly fly under the radar. Unless you happen to live in or around where these mutuals are based, or have actively checked out mutual organisations to see what’s out there, you probably won’t have heard of them. But, just because they’re small doesn’t mean they don’t have plenty to offer.
Big banks have big budgets, which is why they have the reach that they do. Mutuals, like Hunter United, work in a different way. Where big banks are owned by external shareholders, Hunter United is owned by its members. So, where big banks focus on paying out profits to shareholders, Hunter United can focus on re-investing those profits so its members can benefit.
While big banks can throw huge sums at ad campaigns, mutuals like Hunter United focus on offering banking services for the benefit of the community. As Hunter United exists for its members – and is owned by its members – those members benefit from its success through its competitive rates, minimal fee structure and exceptional customer service.
Having been around for more than 50 years, Hunter United knows a thing or two about the financial services industry. And, while it may be smaller in size, it still follows the same rules as the bigger banks, meeting the Australian prudential standards set for banks, building societies and credit unions.
As an Authorised Deposit-taking Institution (ADI), Hunter United is supervised by the Australian Prudential Regulation Authority (APRA) and Australian Securities and Investment Commission (ASIC), and operates in accordance with the Banking Act (1959), the Corporations Act (2001) and the Retirement Savings Accounts Act (1997).
Hunter United is a member of the Customer Owned Banking Association (COBA), and as a customer-owned institution, members have a say in how the organisation is run, guided by the expertise of its Board of Directors.
With such a strong focus on its members, Hunter United looks beyond their financial needs to the environment in which they live. Going green is important to Hunter United because it’s important to its members, so with that in mind, the organisation strives to do its bit for the environment, one household at a time.
In 2012, Hunter United installed solar panels at its head office, while also introducing other power saving initiatives. As it says itself, “It’s not only good for the environment but it also makes good economic sense”. Going one step further, Hunter United works to help get members off the grid, offering exclusive access to discounts on solar finance, and discounted home loan rates for members who have already installed solar.
Like many mutuals, Hunter United works hard to improve the community it serves. This means being part of charity fundraising days, offering staff volunteering days to causes that need it, offering community referral programs to raise money for members’ teams and businesses, and spreading the word about charitable crowdfunding.
If you like the sound of what Hunter United has to offer, why not check out its credit card offering to see if a Hunter United card is the right fit for you. As a mutual, Hunter United keeps its card range pretty simple, offering one card that focuses on low rates. This could be a great option for cardholders looking to save on interest, especially those who carry a balance month to month.
Want to find out more about the Hunter United Low Rate Visa Credit Card? Check out the card’s page to find out all the important info and our review of what it’s got to offer.
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