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CUA (Credit Union Australia)

CUA (Credit Union Australia)

2.9 from 440 reviews

A good experience

My wife & I have recently shifted from the Anz to Cua Garden City.We went in to the branch to enquire about the benefits of your platinum credit card & we sat down with Kiri who was knew & a more senior member who gave advise where needed.Both ladies were friendly,helpful & professional we signed up for the card & we both walked away telling each other what a pleasant experience it had all been

Customer Service
Application Process
Timeliness

Help at every step

My experience with CUA has been good. I was guided at every step of the way and the staff that worked on my case (Umaira) has been extremely helpful. I have worked in banking industry before and I know how complicated banking process could be when it comes to assessing loan applications, but Umaira followed up on my application daily and kept me informed on the current status and the next steps. Other banks took more than 3 days to get back to me on the loan document details - by then I have already proceeded to assessment stage with CUA.

My only gripe will be with CUA process itself - there was no way for me to know whether the loan amount has been dispersed to the correct recipient unless the recipient confirms the receipt of money. Very limited information were presented in the loan disbursement email on the actual transaction details. I find it odd because there should be proof of transaction given to the person taking the loan to indicate the funds has been transferred to the nominated recipient and details of the recipient as well. I had to constantly follow up with my seller to know whether the money has been received successfully.

Overall, I am happy with Umaira's service and will consider purchasing further banking services from CUA.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate

I’ll never deal with cua again

Been a customer for 26 years applied for a refinance on a loan it took almost a month for settlement I couldn’t believe the incompetence from them the stress and frustration they caused me is unbelievable I will never ever deal with them again any other lender would have taken less than a week

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateMay 2019
Loan used for:Investment Property
1 comment
Hi, We are terribly sorry to hear of the experience you have had. We will send you a private message regarding this so we can better capture your feedback. Thanks, CUA

Great service

Jennifer from the Garden city branch was absolutely brilliant in helping me apply for a credit card. She was very professional and helpful, and the response from the bank was quick and informative. Thank you so much.

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Customer Service
Application Process
Timeliness

Great Service

Pratibha made the whole process of applying for a Car loan simple and easy. She was attentive, prompt, courteous and always kept us in the loop on the progress of the application. She also took initiative in organising an insurance for the new car and tried to get us a better rate on our current car & home insurances. She also suggested opening a Kids saver account for our child and provided us with all the information and forms needed to open the account. I'd been wanting to do this for a while but never got around to doing it. Thanks Pratibha for all your assistance, you've been great.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateMay 2019

Excellent customer service

Thank you Anu for making the process of opening account for my children so easy. You walked them through the process of how to use the accounts and answered all our questions so patiently! The only thing I would suggest is that CUA enable customers to personalize the names of accounts, especially when opening multiple accounts for multiple children.

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Customer Service
Application Process
Timeliness
Online Tools

Disappointed with your IT people and no communication meaning lost interest.

I am very disappointed that I have to keep checking your savings account that change name, and therefore you pay the lower interest rate. An Esaver Boost becomes an Esaver extra account. And you sneakily then keep people on the lowest interest rate if we don't update it.. The guy on the phone said aren't you alerted. NO. Even though I have registered to be alerted I get no emails of your changes. Your IT department is lazy and inept. I have been a customer for over 20 years and am disgusted that I have lost money in interest because I am not keeping up with your name changes on your savings account and am not being notified. Many people are losing interest because of this, as the customer service rep said I wasn't the only one. Maybe you just don't want us as customers anymore Hmmmm !

4 comments
Hi Debbie, Thank you for your feedback. To clarify, eSaver Boost and eSaver Extra are two separate products, not a change of name to the same account type. The eSaver Extra was only recently launched as a new account offering in February, while the eSaver Boost had been a part of our product suite for some time until recently closing. We do advertise our new products and rates in a variety of different ways, including but not limited to print media ads, in branch advertising, social media promotion and listings on our website as well as the websites of several comparison and affiliate websites. This is to ensure our members can make informed decisions about the best products to suit their needs. Additionally, our team members provide this information to members when they contact our call centre or visit their local branch, with members also having the ability to switch products within their online banking platform. If you are not happy with your current products and would like to discuss the variety of options available to you, I would be happy to have one of our Specialists get in contact. Thanks, CUAThe eSaver Boost and eSaver Extra were virtually the same, except the limit of cash you could keep in the account was a lot higher. You missed my point, which I am not surprised, is that you keep changing the name of these accounts and only making subtle changes, therefore we miss out on the extra interest. I can't keep checking to see what new account you have today. And already you have got rid of the eSaver extra which was only online since Feb. Loyal customers miss out on the higher interest rates offered because we can't keep up with all the account changes. I am also meant to have been informed of these changes and new accounts because I had checked on my preferences to be emailed, which your customer rep told me to do. But no I received nothing. And if you valued your customers, you should be reaching out to us not me having to check every few months for your new accounts that pop up.Also where on my account can I see what interest rate these eSaver and eSaver Extra account earn ? And why is this not on display on my account ?

confusing rules for CUA mortgage

we currently have a platinum variable mortgage with CUA. For the second time in a couple of years I've released that the rate they are offering for new lenders is a lot lower than the rate we are on. I've been advised that we can get the better rate but we have to pay $300 dollars to switch to a new package. The package as far as I can see is exactly the same in everything but name. I'm confused if this is regular practice or something that should cause me to switch providers? We had the $300 dollar fee waived a few years ago when I noticed the same thing. I was under the impression that with a variable loan rate reductions were passed on?

regards, shaun

Transparency
Customer Service
Loan TypeVariable Rate
Loan used for:First Home
1 comment
Hi Shaun, Thank you for your feedback. The Platinum Variable mortgage is a variable interest rate which is subject to change over time, depending on different environmental and market factors. While new lending special rate offers may have the same or similar features, there is still a cost incurred to the business to switch products. With regards to the $300 variation fee, this covers the operational costs incurred to CUA to perform the product switch and to change your loan contract. In terms of the difference in rates, CUA prices these based on a number of factors including the cost of funds and market competition. On occasion, we may release special offers to attract new business to maintain and grow our lending book. These interest rates are aligned to the market conditions and funding environment at the time. As a mutual with a membership base in excess of 530,000 Australians, we have a responsibility to be sustainable in order to appropriately service our broad member base into the future. If you would like to discuss the options available to your specific case I would be happy to have one of our Home Loan Specialists get in contact. Thanks, CUA

Great customer service after bank hiccup.

CUA's credit arm experienced an issue transferring Credit Card payments last week. I went into personal meltdown as the thought of my card not being cleared even though I had done the transfer. After calls to the telebanking line, I then went into a branch near work to really state my case. The Customer Service Officer (Michelle) listened, acted, assured me, offered to personally follow up and did all of these things without any sort of dismissive attitude. I got the feeling she would not let me leave without making sure I was okay. I have given feedback regarding the bank's ability to notify customers of issues they have that affect customers. Overall, over 6 years of home-loans and savings accounts, I can't fault CUA.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan used for:First Home
1 comment
Hi Jaspa, We greatly appreciate your patience and understanding while we worked through this issue. We are really glad to hear that despite this hiccup, Michelle was able to reassure you and provide confidence that we would work hard to resolve this for you. Thanks again for your kind words. Regards, CUA

Started great - deteriorating.

We have had a home loan, savings and a business account with CUA for many years along with personal/car loans along the way. Our initial experience with speed and very helpful personal service was wonderful. Over the years they have shifted great staff out of the branches and replaced with unhelpful and ignorant. They have also taken on all these new insurance products like health insurance, which they keep trying to sell me. The staff seemed under pressure and stressed by having to do this and many of the good staff left at this time also. I want my bank to be a bank, not an insurance company. Also, this is supposed to be customer owned and a not-for-profit credit union. They seem to keep changing the rules and the products to make more money -which is actually making the service and products LESS what I want! Last time we wanted to extend our loan for home improvement it became so tedious and time wasting - they were so unhelpful, that we gave up and saved the money instead. Now I find that our home loan which was supposed to be 1/2 % less than the standard rate is now more than 1% more than their advertised rate for a similar loan. When I tried to address this via their fancy new IM APP, they just wanted to sell me a new fixed rate product which will likely make them more money and not help me at all! SAD!

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
1 comment
Hi, We are disappointed to hear that your recent experience with CUA does not reflect the customer experience strive for. We do not want your feedback to stop here, so we will send you a private message regarding this. Thanks, CUA

new fees that dishoner the contract

when i signed up to the only account in 1983, the deal stated NO FEES FOR LIFE. so much for that,they have come up with creative ways of steeling my money,with transaction fees, atm fees,even fees to check your balance at the atm..,but the invention of an overdraught fee last october is just asking for a court case,and the pathetic exuses and the more pathetic scripted rebutals from the call centre is totally disgusting,these fat cats need to be taught a lesson.anyone with me on this?a contract is a contract,they have breached the conditions and we can make it cost them so much more than the cash they have stolen from us.

Transparency
Customer Service
1 comment
Hi, We are disappointed to hear of your experience with CUA. We will private message you regarding this. Thanks, CUA

Consolidated my debts for easy fortnightly repayments at a great rate!

Made appointment for Saturday with Jennifer Le from Garden City branch to apply for a consolidation nonsecured personal loan. Jen was completely organised and prepared - and asked me all the questions to learn about where I was at with finances and life in general. By Monday I had emails and updates from Jen where we were at, by Tuesday I was asked to provide 1 last document, and by that afternoon I had my contract and telephone authorisation - just a few hours later the funds were siting in my new CUA account. Jennifer Le’s customer service was impeccable, and I am completely impressed with CUA. Thankyou.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateApril 2019
Loan used for:Refinancing

Not too much better than the big 4

I found out my money transfer to CUA would take 2 days to be electronically carried 500 metres from another financial institution ...
I told a female staff member that it was urgent, to which she replied, " oh, you could make a small wothdrawal from your E-Saver boost account !! (No mention of the hundreds of $ lost instantly in interest, for making a withdrawal ... )

Customer Service
1 comment
Hi Vincent, We are sorry to hear that CUA has not met your expectations. Please be aware that unless an electronic transfer is sent via NPP/Osko/Fast Payment, it can take anywhere up to two business days to clear. This is standard across all financial institutions. In the future we recommend sending the funds via NPP/Osko/Fast Payment where the the vast majority of payments are processed and available in less than a minute to avoid any delays. Let us know if there is anything else we can do to help. Thanks, CUA

New Account Service

I had a very positive experience with CUA and Anupama Shenai when I opened an account today. She explained the various accounts and what options I had and what would be suitable. She also went into detail with what the CUA could offer me. She was professional, courteous and knowledgeable.

Customer Service

Excellent Customer Service

Anupama Shenai of Castle Hill Branch showed a very good knowledge of products and services relating to investing money with CUA, plus she was quick and efficient and listened to what the customer wanted.
Thanks Peter.

Transparency
Customer Service
Application Process

Excellent service.

This morning my wife and I were very impressed with CUA and our advisor Anupama Shenai at the Castle Hill branch. She was very competent, friendly and patient with us and after we explained our situation she suggested and implemented improvements to our financial arrangements. Very pleased.

Transparency
Customer Service

Couldn’t Ask For More...

Simply never been offered such thorough and informative service from a particular articulate person...very simple question yet helped with no judgement on my ability or non ability...thanking doesn’t seem enough...Sandra

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Customer Service
Timeliness

Really depends

Previously I went to post office to verify ID and got rejected. I then made a rant here and I was contacted by CUA and they got it processed eventually.
I got some really mixed levels of services from CUA. Some are very good, quite calming voice. Some can be a bit rude... So I don't really know for now~ Let me wait and see

Transparency
Customer Service
Application Process
Timeliness
1 comment
Hi JGEE, We wish to apologise for the experience you had regarding your application with CUA, which does not reflect the service level we strive for. We will private message you regarding this. Thanks, CUA

Rule changers at the customers expense

Have an account for 15 years with CUA. Never been charged an overdraft fee until October when they change the rules and charge $5 a month. So I enter into a contract with them when I open this account 15 years ago but they decide they need more money so just change the rules to suit themselves. How about you opt everyone out of the overdraft when you change it then customers who want it can opt back in. I think I know why you wouldn't do that.

Transparency
Customer Service
Application Process
1 comment
Hi Chris, First, we want you to know we appreciate your loyalty to CUA over the past 15 years. In regards to why CUA introduced the overdraft fee in October, the fee assists in the ongoing maintenance of your account; including systems costs, staffing, statements etc., as well as the service expenses incurred by having the credit facility available when you need. As we must have the funds available for you at all times, an unsecured overdraft is a facility that CUA pays for, regardless of whether it is used or not. As the cost of maintaining these facilities continues to increase, it is necessary for us to review our fees to ensure we remain sustainable. CUA has not made changes to this fee in some time and, as a result, we have been absorbing these rising costs. While we understand the impact to members, CUA sometimes needs to make difficult decisions on our fees to ensure our business remains profitable for the benefit of all our members. We do value our members, and appreciate this may cause a level of inconvenience, so if you'd like we can review your account and see if there are alternative options that might be better suited to you. Please also understand that we cannot remove an overdraft facility without the consent of our members. We will send you a PM regarding this. Thanks, CUA

Staff are lovely, digital services are stuck in the 80s

I've always had a great experience with customer service but their app, online banking, and digital services like resetting a password is so crap. Disappointing for such a big established credit union

Transparency
Customer Service
1 comment
Hi Matt, Thanks for your feedback. We are glad to hear you have had a great experience with customer service, and will pass your feedback regarding our digital services on to the relevant team. If you have any suggestions on what services you would like to see introduced or how our current digital services can be improved please let us know. Regards, CUA

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Questions & Answers

How long does it take for a bank cheque to clear at CUA.
3 answers
Hi Sagie, Thanks for your question. Cheque processing times are 5 business days. Let us know if there is anything else we can do to help. Regards, CUAIt took 8 days to clear.Hi Sagie, Was this calendar days or business days? If business days, please send us a message with your best contact details so we can investigate the reason for delay. Thanks, CUA

How do I change my address on my bank account.
No answers

It seems another branch (Brisbane) has closed down. Is this something to be worried about?
No answers