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So, what does it mean to be a credit union? For one thing, unlike Australia’s big banks, which are owned by external shareholders, Queenslanders is owned by its members. Without that focus on providing big profits to shareholders, Queenslanders can simply focus on its members. That means providing the best possible products and services, while giving back to the community. As Queenslanders itself says, “It’s all part of our promise to provide banking that’s personal”.
Right now, you are opting to find out more about Queenslanders Credit Union. Looking beyond what products it offers to what this long-standing credit union stands for means you care about the approach your financial services provider takes, and its attitude to what’s most important to you. You may be interested to find out, Queenslanders goes beyond the basic provision of banking services. This is an organisation that is about community, social responsibility and collective strength.
Why should you choose Queenslanders Credit Union? Let’s take a look at some of the high points.
Have Your Say: Queenslanders is a mutual, which means it is owned by its members. When you join Queenslanders, you purchase a $10 share. This entitles you to vote at the organisation's Annual General Meetings and, in doing so, participate in the election of the Board of Directors. This gives you a say in how the credit union is run, which is not something you’d get as a customer of a big bank.
Enjoy Competitive Products: Utilising the mutual model, Queenslanders remains focused on member needs, rather than the pursuit of higher shareholder returns. That means, aside from putting members first at all times, Queenslanders also re-invests profits that would have been paid out to external shareholders in a non-mutual. These profits are used to offer members better rates and lower fees.
Give Back: Not having shareholders taking a piece of the pie also allows Queenslanders to invest in the community it serves. If you live in the local community, you could see community involvement by Queenslanders, taking an active role in local events and providing sponsorship to local groups and organisations.
Be Part Of A Well Regulated Institution: While it may not be a big bank, Queenslanders is still an Authorised Deposit-taking Institution (ADI). That means it is regulated by the Banking Act 1959, and is supervised by the Australian Prudential Regulation Authority (APRA).
If this is something you think you’d like to be a part of, why not check out what Queenslanders Credit Union has to offer in the way of credit cards. After becoming a member, you can apply for either of these cards if you meet the eligibility requirements (membership is open to all Australian citizens and residents aged 18 years and over).
With its low annual fee and low purchase rate, this could make a great low cost option for cardholders looking to save. While features may be somewhat basic, it does offer the option of opting in to the Rewarder Loyalty program for an additional annual fee, giving cardholders the chance to earn points on their card spending.
Offering multiple cards, each with individual limits, this could suit small business owners who want to simplify their business spending. The card provides detailed statements, with a low annual fee and a low purchase rate. Accountholders can also earn points on the Rewarder Business program, with up to 55 days interest free on purchases to help ease cash flow management.
To find out all the need-to-know on these cards, check out each card’s page for all the essential info and our handy review.
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