Savings Account FAQ
Everything you need to know to open and transact on your savings account
Everything you need to know about your savings account
Do I have to be a member to open an account?
The Credit Union is a mutual financial services organisation and as such is owned by its members, each one of whom is a shareholder. Part of the membership process is to open an account. If you would like to become an LCU member please apply online.
How much do I need to deposit to open an account?
The value of the deposit depends on the product you wish to open.
How do I make deposits to my account?
You can arrange to make deposits to your account by:
Direct credit of payroll or other income.
Transfer from another savings or transaction account.
Debiting an external account from your internet banking.
How do I make withdrawals from my account?
Accessing your money will depend on the particular features of your account.
Some options include:
With a Visa Debit card to make transactions online, at EFTPOS terminals and at ATMs
Transferring funds using Osko
Transferring funds using direct entry (via a BSB and account number)
Making payments with BPAY
How often will I receive information on my account?
Statements are issued at least six monthly. You can choose to have them issued monthly or quarterly if you prefer.
Account balance and transaction information is available any time through our internet banking service and mobile application.