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CUA (Credit Union Australia)

CUA (Credit Union Australia)

2.9 from 455 reviews

All Marketing No Substance

Recently signed up for a personal loan to consolidate some debt, got a great deal and great service during the sign up. Since then they have been the worst to deal with. I switched from a big four and i'm now switching back. I would almost go as far as saying that their actions are unethical.

Transparency
Customer Service
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Timeliness
Loan TypeLine of Credit
1 comment
Hi Dan, we are terribly sorry your experience with us did not meet your expectations. Here at CUA, we pride ourselves on our service. We will private message you regarding this. Thanks, George CUA

Great service

I have been with CUA for 5 years of my mortgage. They have been amazing with continuous support and amazing rates.
There were a couple of missing facilities like the SWIFT international transactions and local branch availability but nothing you cant fix.
Their tech has gotten a lot better as well.

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Customer Service
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Online Tools
Loan TypeVariable Rate
Loan used for:First Home

Poorly trained staff and misleading practises

Organised a mortgage for with settlement in 6 months, come the day no documentation has been done and suddenly they need it filled in. Then within a week of being granted the mortgage CUA takes the product off the market, creating a new one with that rate and uniformly increases the rates on all existing customers by 0.25%. If they want to offer new starter rates they should do it honestly

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Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateMay 2018
Loan used for:First Home
3 comments
Hi Adam, thanks for your query. New home loan borrowers will find the rates being offered to them vary depending on the timing of their application. The current rate offers need to take into account factors such as the cost of funds, market competition and the need for our business to remain profitable. Our variable rates may fluctuate due to changes in market conditions or funding costs. While our newer variable rates won’t always be available to existing CUA members, our fixed rate home loans are an alternative option available to those who want more certainty around their rate. If you’d like to discuss your home loan options further, please PM us your best contact number and a Home Loan Specialist will be in touch. Please let us know if we can help with anything else. Thanks, GeorgeYour response is especially deceptive in my case and I will be happy to consult with AFCA regarding it as the new product released was not materially different and for my rate to be increased within a month of opening whilst another identical product was released with my previous rate this is called bait and switch and is unconscionable if not illegal If you want to argue pricing it should be transparent and reflect the material attributes of the product not arbitrary lines in the sandhttps://en.wikipedia.org/wiki/Bait-and-switch TAKE NOTE OF THE WORD FRAUD Especially when I complained the response was for $600 we can fix that right up. I was with you less than a month and you upped the price, renamed my product so you could call it a new product and started selling it to other unsuspecting people. I just want other people to know you're crooks at this stage to protect them

Very unhappy

Put a loan application in to CUA to pay out shortfall on my car. due to capacity issues they asked me to pay down my credit card or payout to ease capacity. I asked them to run an Equifax report first before I pay down the credit card. They gave me the impression that all was good and to pay the credit card down or cant proceed with that loan amount. Paid $4600 off credit card. Only to find out that the loan was declined due to that actual credit card on Equifax ??? Out of $4600.... Left high and dry and in a position of hardship.
Would never refer them to anyone.

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Customer Service
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Timeliness
Online Tools
Loan TypeFixed Rate
Loan used for:Refinancing
1 comment
Hi GGG, we are terribly sorry to hear of your experience regarding your loan application. We will private message you regarding this. Kind Regards, CUA

Very happy with cua, lisa lordan and pauline from campbelltown branch have given great service, highly recommended!

Customer service was fantastic very helpful and friendly staff, no unexpected costs throught my loan everything i needed to know i knew, the interest rate is great better than anyone ive seen previously

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Loan TypeFixed Rate

Really helpful

They got my money back after a scammer ripped me off. I think they are awesome. Friendly people to deal with. AAAA Have been with them 25 years and have had no dramas. 1000 times better than com bank.

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Customer Service
2 comments
Hi Crowdy, Thanks for your kind words. We also wish to extend our appreciation to your loyalty to us over the past 25 years. Glad to hear that we were able to help you get your money back. Kind Regards, CUAKeep up the good work, thanks again!

Very shifty Bank don’t look after long term customers

Joined CUA from big 4 bank as I had enough with the high fees. Joint knowing on the discharge fee is only 200 as we signed a contract , the variable rate slowly went up and they introduced a new product but wouldn’t change me to it only
For new customers so I went fixed. As my fixed rate coming towards the end I rang up to be told if I would like to go to a variable rate in the future they would charge me 300 which I wasn’t told before ( was supposed to be free) but they only offer fixed rates free to get you back into a contract. So I decided I will do some research and was told they changed there discharge fee to $500 even thought I wasn’t asked or told, and was advised nothing changes while your fixed.

I thought CUA looks after it’s members,
Even the big 4 banks ain’t this bad. They won’t even rely to my emails.

Transparency
Customer Service
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Timeliness
Loan TypeFixed Rate
Loan used for:First Home
4 comments
Hi Nik, thanks for your feedback and sorry to hear that you’re unhappy with your current experience as a member of CUA. We understand these changes will have an impact on some of our members and we’re here to support you. We will send you a private message regarding this. Thanks, CUALodge a complaint as advised.Still no reply or contact

Nothing a problem

Anupama Shenai, Castle Hill Branch, showed a professional and patient approach during our visit. She guided us effortlessly through our transaction, offering expert advice and options along the way. Thank you for your assistance.

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Customer Service

Helpful, professional staff.

Staff are more than willing to go the extra mile for their clients. They have good product knowledge which makes the customer confident in making an informed decision. Very happy with the service.

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Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateJuly 2019
Loan used for:Second Home

Home loan rate

Refinanced with CUA from NAB due to the better rate. After 8 months rate increased by 14 points outside of the central bank.At the same time offering better rate to new customers.Now after 2 consecutive central bank rate cuts of 25 points each CUA have only passed on 10 points and 17 points.This is now becoming the worst deal .I am moving and I would encourage others to review their products with CUA.

Transparency
Loan TypeVariable Rate
Loan Start DateJanuary 2018
Loan used for:Refinancing
2 comments
Hi Thomas Thanks for your feedback, and we are sorry to hear you are disappointed with your home loan rate. Market forces, not the RBA’s official cash rate, are the primary driver of CUA’s funding costs, While it’s not possible for us to absorb the cost of passing on the full rate cut, I can assure you this loan still offers a very competitive rate. We will private message you regarding this. Thanks, CUAThat’s the same repetitive message programmed into CUA staff .There are smaller lenders that have higher funding costs than you and they are able to pass on better rates.You even offer better rates to new customers only and charge $300 for existing customers to change over.I have made a change $200 discharge of mortgage to CUA to a no fee 43 basis points lower loan than CUA with same benefits.My review is just so other people don’t get caught by CUA’s false marking strategy.

Great Branch Staff - Back Office not so Hot

Excellent experience with Umaria at the Castle Hill Branch. She knew her stuff and was extremely helpful.
She went into bat for us when a back office staff member couldn't or wouldn't read a legal document properly. There is a very obvious difference between the words "and" and "or" in a legal document. Someone in a position where reading documents is a key feature of the job should understand this.
Five Stars for Umaria at the Branch Two Stars for the Back Office

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1 comment
Hi Jeff, Thanks for your feedback, great to hear Umaira was able to help you; we appreciate your kind words. We will private message you in regards to your experience with back office. Regards, CUA

You can't take $ 15 as non payment

Got all my accounts including home loan and others and you take $ 15 as fees I had less bank balance in that account. Going to speak to anz and move my home loan soon. Thanks, Josh - 0447 546142

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Customer Service
2 comments
Hi Josh, We would like to follow this up for you. I have sent through a private message.Thank you for your time on the phone today to assist in resolving this. Regards CUA health -

Exceptional Customer Service

I have been with CUA for over 10 years now and recently contacted them to go about consolidating my loans. Anu Shenai went above and beyond to get the approval and funding done and while it was complex and took a lot of time to finalise, she was constantly in contact with me, helping me and keeping me up to date. I can not thank her enough for supporting me, helping me and literally making my life so much easier. People like Anu are who define customer service. Very happy and grateful!

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Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan used for:Refinancing

Customer Service

Cailtyn Earea gave a great form of service. She made me feel extremely welcomed and helped me with my financial problems. She was extremely professional and proficient highly recommend her to friends and family.

They are very cruel. You borrow from them, You are in a situation where you are late with repayment,

They are very cruel. You borrow from them, You are in a situation where you are late with repayment, That is when you will know CUA, They are horrible, Please go with normal banks.

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Online Tools

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

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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.

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Customer Service
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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

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Customer Service
Application Process
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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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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.

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

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Questions & Answers

I had an issue with getting occupancy permit for constructed house. Finally have OP. What are my chances of getting bank cheque and inspection done in 3 business days?
No 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

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