Macquarie Credit Union has today announced an interest rate cut of 0.12%pa across our range of both owner occupied and investment variable rate home loans, effective 8 July 2019.
In reaching this decision a number of considerations were taken into account including maintaining competitive rates for our deposit and savings members, particularly retirees and those saving for their first home. At Macquarie Credit our focus is on providing a balance for all of our members so that our rates remain competitive for our depositors and borrowers.
Many financial institutions including the Big 4 increased interest rates for owner occupied and investment home loans over the last twelve months, Macquarie Credit Union stayed true to its values and chose not to increase rates during this time. It is important to note our standard variable rate remains 25 basis points below the lowest of the major Big 4 banks standard variable rate.
Members who would like further information on this rate change are encouraged to contact the branch on 1300 885 480.