Important Notice

Fees and charges

Update to our Fees and Charges effective 17th May 2024


Savings accounts Previous charge New charge
Direct debit honour $0.00 $10.00
Direct debit Dishonour $0.00 $15.00
Visa card replacement fee $6.00 $10.00
Esaver Manual Transaction Fee $10.00 $0.00
IPEX FEE incoming $7.00 $15.00
IPEX FEE outgoing $13.28 $15.00
Loan Accounts Previous charge New charge
Application fee (All home loans, personal loans, car loans) $0.00 $200.00
IPEX FEE incoming $7.00 $15.00
IPEX FEE outgoing $13.28 $15.00

There are fees applicable for direct debit payments where:

  • A direct debit dishonours:
    Is where there are insufficient funds in your account and we manually reject your direct debit.
  • A direct debit honours:
    Is where there are insufficient funds in your account and we manually force post the payment to your account.

More information can be requested by calling (02) 9859 0585 or emailing

The fees applicable for IPEX payments:

  • Is where funds credit or debit your LCU account using CUSCALS Ipex Payment Platform, typically used for:
    Home loan settlements
    International payments from overseas to your LCU Bank account
    Large balance transfers for same day credits between Banks or Credit unions.

The ESaver Manual Transaction fee:

  • Is a fee we had in place for staff assisted internal transfers/BPAYs or external transfers from your S50 Esaver account. This fee had not been charged to members for many years, LCU decided to officially remove this fee.

Changes with Accounts structure

Update to our Account structure effective 17th May 2024

LCU is making a few changes regarding our Account structures with an effective date from 17th May 2024.

Fixed Term Deposits:
We are also implementing a new Fixed term deposit structure to increase the monthly interest deposits (otherwise known as cheque-a-month) and add more available options. This means that we will offer monthly interest to FTDs for 3 to 6 months, 6 to 12 months and so on at a higher interest rate then our current rate. The loyalty bonus will also apply to Monthly interest fixed terms.

S40 Offset account changes:
The 100% interest Offset Account will no longer be available for any Fixed Rate Home Loans as of 17th May 2024.

How may this affect you?

Existing Fixed Home Loans – Your Offset Accounts and benefit will still be available on your Fixed loan product until the expiry of your current fixed rate term upon expiry. Your Offset accounts will no longer be attached to your loan if you choose to fix it for another Fixed term.

Advance payments on Fixed home loans will also have a cap for $10,000 extra/added repayments within the Fixed Rate Home loan term. This means that your redraw facility will only allow additional repayments to a maximum of $10,000.