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Providing a wide range of quality financial products, WECU offers its members everything they need to reach their financial goals, whether that’s loans or savings products, financial planning, insurance or credit cards. Focusing on competitive interest rates and minimal fees, backed by friendly, personalised service, WECU puts its members first, every step of the way.
WECU prides itself on having members, rather than customers. Unlike big banks, which have customers they serve and external shareholders they use profits to pay out dividends to, WECU’s members are its shareholders. Allowing WECU to focus solely on its members, this provides them with a number of benefits.
An opinion that counts: All members in WECU are equal part owners, each investing in one $10 share when they join. This allows them to have a say in how the organisation is run, electing a Board of Directors to guide WECU down the right path.
Competitive products: Credit unions such as WECU don’t operate for personal or company gain. Instead, profits are channelled back to members, offering benefits such as lower fees and competitive rates on the products and services they use every day.
Confidence: While people may place more trust in the safety of the big banks, WECU faces the same regulation as an authorised deposit-taking institution (ADI). It is regulated under Commonwealth legislation and supervised by the Australian Prudential Regulation Authority (APRA), making it a safe choice for members.
Excellent service: WECU strives to offer the best in customer service and support. It has a dedicated group of staff, who consider each member as an individual, to understand their particular financial needs and objectives.
WECU has a mission to help members of the Woolworths family achieve financial security and well-being by providing a range of relevant, competitively priced savings, lending and other financial services. One of the ways it does this is by abiding by strong core values. These include:
As with most mutuals, you must become a member if you want to join WECU. To be eligible for membership, you must be an employee of the Woolworths (Australia) Limited group of companies, or an immediate family member.
What about when you leave? If you choose to leave Woolworths or retire from your job, that doesn’t mean you have to give up your membership with WECU. This is an organisation that operates under the principle of ‘Once a Member, Always a Member’, so once you join, you may remain a member for the rest of your life.
To become a member, you simply complete a membership application form, either online or by post. You then invest in one $10 share, which makes you a fully paid up member of WECU, and eligible to apply for any of its products. This share is fully refundable should you decide at any time that you no longer wish to use the services of the credit union.
The WECU Visa Credit Card is a no frills card, offering a low rate and low fee, with up to 55 days interest free on purchases. Is it the right card for you?
Low Rate: A low rate card would typically suit a cardholder who carries a balance, helping them to keep interest costs low as they work on paying down more of what they owe.
Low Annual Fee: A low annual fee card may appeal to cardholders who want to keep ongoing costs down, and who perhaps don’t see the point in paying large sums simply to access credit.
Interest Free Days: A card with interest free days on purchases could work well for cardholders who pay off their balance each month, as those interest free days could allow them to keep their interest costs at zero.
Want to find out more about the WECU Visa Credit Card? All the essential info – including rates and fees – can be found on the card’s page, alongside our handy review of its offering.
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