G&C Mutual Bank Personal Loan

5.60 rate loan home promise – Dealing with Katrina was a waste of time. She promised a 5.60 interest rate because our loan was small. I felt she wasted a lot of time, tried to make our debt larger by trying to reconciliation of small debts. In one month she couldn’t give us an answer or even finish the loan. We went with another lender. Total waste of time.

Can't rely on G&C Bank Call Centre – Call Centre does not do what they say they will do. You can not rely on this place when you need them. Stay away.

Home Loan for First Home Buyer – I am so grateful to Sandra Bannister and G&C Mutual Bank, for making my dreams of becoming a first homeowner, a reality! I found Sandra exceptional to deal with – her efficiency and proactive attitude meant that I was kept in constant communication with regular updates on the progress of how things were tracking, along with accurate time-frame… Read more

expectations. Sandra is both professional and personable – she has been there for me every step of the way in helping me secure a home loan under the First Home Guarantee, through G&C Mutual Bank.

I sensed a warmth and kindness in the interactions I had with Sandra; her genuine desire to help afforded me the rare opportunity to put aside the stress and anxiety that had begun to consume me since my home loan journey began several months ago. I felt so at ease throughout this entire experience with Sandra and G&C – I don’t often come across a high level of customer service like hers, in today’s busy world. Sandra treated me as a valued customer from the very first phone call and gave me the welcome news that my postcode was not going to mean I had to increase my deposit size. Sandra helped me navigate the paperwork for the First Home Guarantee scheme, securing me a place on the scheme within 48 hours! I never felt rushed by Sandra when explaining my situation as a sole-trader only having been in business for the past two years; she patiently listened to me and took the time to understand that the income for my first year of business was heavily impacted by the pandemic and higher expenses relating to my initial start-up costs; other lenders I had contacted, reduced my borrowing power significantly as their process for sole-traders and small business owners was to average out the last two years of business income and work out the borrowing power off this. Sandra gave me hope that G&C’s credit department would evaluate my individual situation independently, not just decline an application based on a blanket rule without having consideration for all the factors involved.

Throughout my personal experience of navigating the home loan process as a first-time buyer with a humble deposit, I have come to appreciate G&C Mutual Bank for being a unique lender who is willing to listen and proud to be different in ways that can be life-changing for people like me.

G&C Mutual Bank has turned my first home buyer experience around completely - I consider having made that initial phone call to Sandra just 14 days ago, to be the best decision I have ever made!

Kind regards, Coby Lee Beel

Worst experience ever !!! They bait you with low rates they aren't willing to offer – They are time wasters, I regret applying. Don't bother applying. I applied for a personal loan with G&C Mutual Bank, after confirming that I met the conditions of getting Diamond rate (Excellent credit rating, good income and repayment history). I filled in the application online and submitted more the documents required. First they lied about… Read more

my credit score/rating until I proved it wit a copy from Equifax. Realizing their error they still won't the rate I deserved.

Worse Bank Ever! If I could give ZERO stars, I would! – Wanting to consolidate my existing two personal loans to this Bank. After sending in what they require, they questioned why one of the loans have a lower interest rate - maybe if they checked my other loan has a higher interest rate, that could explain why! I think the consultant is not from Australia but possibly from overseas, so they don't… Read more

understand that if a contact number/person was provided on a 'out of office' payroll email, that you contact them not asking me who they should be contacting. Then questioned every detailed transaction on my savings account, even though provided explanations, they still wanted proof of why the debits occur - mate, they're a private matter to NONE of your concern. They basically invade everything and no such thing as privacy. I had provided them with basic information of what they are but they still want everything, proof and customer information etc. Such a waste of time for 10.99% personal loan - because 1) they couldn't offer the lowest rate available and 2) they require too much information to be revealed and too dumb to understand what privacy means.

They want everything – As some previous the criteria these idiots want absolutely every active accounts you have. Ridiculous & very concerning. Not worth the cheap interest rate for credit card. Worst customer service ever received from a ‘bank’.

Embarrassing – As some of the previous reviewers stated the criteria to get a credit card with this mob is ridiculous. I really wouldn't waste my time with them. Scratching my head.

Holding bank account for scammers – G&C Mutual hold bank account for scammers, when we advised them we had transferred money to an account we believed to be fraudulent (later confirmed) they didn’t care less. Didn’t stop transfer, just defended their criminal client. Want to be a protected criminal? Join G&C Mutual today!

Amazing & Efficient! – I have been with G&C mutual bank for a couple years now. I moved my personal loan from Commonwealth Bank to them and have never been happier! They were very helpful and gave me the best rate without needing to know my life story (unlike CUA). I was just about to finishing paying it off and decided to buy a new car. I contacted them and they (Joy… Read more

Box in particular) was so helpful. She organised everything, was very efficient and had contracts done and a bank cheque to me within a week!

So within a week I picked up my new car! You cant beat that!

Couldn't recommend enough! :)

Personal Loan – Absolutely amazing process of applying for a personal loan through G&C. Customer service is top priority and professional, and I couldn't feel more valued as a member. A special thanks to the contact centre manager, who clearly explained the process and made it seem simple. Interest rate was better than some others in the market.

Astounded at these reviews – I was alerted to some of these reviews by a friend and wanted to counter the comments with a very positive story. I have been a member of G&C Mutual Bank for over 10 years and in all that time have found their service and range of products exactly what I would expect and need. Not only do they go above and beyond when I need something they are… Read more

generally just great to deal with and have all my needs covered. I have a whole range of different products from the including credit card, home loan, savings and investment accounts and couldn't be happier.

No information given when we paid off our home loan. No information about the change from our credit – No information given when we paid off our home loan. No information given when we changed from friendly staff at close location of Liverpool to phone us but oops we're very busy to take your calls. Have now changed our banking and am about to close account at G&C.

Send in the clowns to this circus – Applied for a $5k credit card but apparently I earn to much money and am self employed and have been for nearly 30 years. Today received a statement of my account which I was charged money for and apparently I have a membership number as well, which I thought I was rejected by them. Do yourself a favour stay away from this 3 ring circus before the clowns get angry!

If there was a ZERO rate - even that would be too high! – In the process of extending contract and redrawing equity from our property for potentially buying another property, the Area Manager, although he was provided with all the necessary information & documentation that allowed him to have full insight into our financial situation: 1) Failed to highlight that our 10 % deposit ( $39,000) was not… Read more

sufficient to and did not bother to question where the additional $39,000 was to come

2) Failed to take into consideration about $17,000 stamp duty?!

3) Emailed our builder to confirm that in 6-9 months we would be able to service the loan, while ignoring the fact that this loan was never going to be approved.

After meeting with a real bank manager and 2 mortgage brokers (seeking additional advice) I realised how neglectful, unprofessional and unethical practice G & C bank has in place.

So, my sincere advice is to stay away from this bank if you want to prevent getting yourself into serious financial trouble.

Be Careful of G&C Mutual Bank – Hi All, I just want to make you aware of when you are trying to check your eligibility for applying a personal loan with G&C Mutual bank, they actually treat it as applied and it gets recorded on your Equifax Credit File. This could be a reason if your loan has recently been rejected. I bought my credit file and noticed 2 entries, I have never ever applied a loan with them. I have asked them for a explanation. Lets wait and see.

Very poor – Additional fees after signing up, different information depending on who you speak to, systems don't work, close accounts without contacting after fees paid etc etc.

Worst Bank Ever – This bank would have to be classifiably the worst bank ever. There Customer service personnel dont know there product and actually tell lies and once you have signed up you get slugged with fees and charges that they then show the fine print in contract to not pay you back. The senior management is shocking- they actually abuse there customers… Read more

over the phone. I had to complain to the Financial Ombudsman to get my money back. Shocking. Dont waste your time- go somewhere else

Another old Quay CU member who is not happy – Fees for everything, including replacing a faulty card. GC Mutual sucks compared to old Quay CU which was member of 12 years Worst merger ever

Slowest home loan of lifetime – Date for settlement kept changing which resulted in additional costs. I complained to the then CEO and was told nothing unusual had occurred would not recommend.

Poor customer service – Another previous 20 year + Quay CU customer extremely disappointed by deterioration in customer service. Expect to spend 25min+ on hold for a basic query, have your interest rates on loans increased without notification etc. Am in the process of changing institutions as we speak...

Credit Card not for Self Employed even after 17 years of trading – Applied for credit card only for $6k. Asked for wages slips provided those. Asked for my business accounts provided that. Provided last 2 years P & L's and then told 4 months later that self employed people are not on their radar for credit cards. What a waste of my time and the "broker" who wanted all this information and then after jumping through all these hoops told no way!

Terrible – Previous Quay CU customer. Going to cancel my account as ever since the merger: - horrible security: person over the phone gave me my netbank password WITHOUT even asking for my personal details - Iphone app doesn't work - Netbank is offline at random, inopportune times - Cancelling a lost card was very difficult to do - $5 membership fee - what for??? Steer clear of this horrible bank.

Old Quay Credit Union customer gone bung – OK firstly I've never taken a loan from GCMB. So maybe this is wrong category. I joined AMP Credit Union 1980 something -> Quay Credit Union (QCU) 2000 and something -> merger with GCMB(SGE) 2015/6?. I'll admit it was handy contacting QCU by 1800 freephone when I wasn't in city (Sydney), especially as I knew most of the staff by name. They… Read more

never charged fees, I never had any transaction blips, unless I caused them by mistake, it was all painless. Yes they were a boutique 'bank/credit union'. It suited requirements at that time very well.

When the merger happened I gradually noted decline in customer service availability/ responsiveness. The 1800 number disappeared for instance. And the phone menu system became too complex....several layers deep. The introduction of new account numbers wasn't seamless either - I never received an initial warning email - never figured out why - and my debit card just died one day. W/O warning - never figured that out either - the crowning glory was having to ring 1300 from my mobile one day (an account login no go) a 30 minute call was substantial. May not have all been GCMB error - it just too long to fix all this....

So all up - it just petered out (sorry) - closed account now - I didn't need another 'bank-type' organisation to deal with.

I liked the boutique - I didn't want another chain store. Bye Bye CQU/GCMB.

Customer Service – I am a long term Quay CU customer and was used to their exceptional level of service. I have just sat on hold for 35mins trying to get hold of one of their staff to discuss a potential significant home loan. Emailed no reply, they clearly do not want my business so I will be cancelling and moving ASAP. 1 star is too good for them.

Terrible Bank – Applied for a $6,000 personal loan for a home renovation, my husband is on $80,000 pa, after online pre-approval for the loan they emailed requesting in-depth supporting documentation confirming everything we stated on the application (which we did). G&C called 3 days later to say he doesn't earn enough (to pay a $25 per week loan repayment?!).… Read more

Well my husband laughed down the phone at them in disbelief. I wish I saw the funny side, I was shocked when he came home and told me. Needless to say we went straight to one of the big banks, received instant approval and our loan funds were in the bank 48 hours later. G&C what a joke. 0 Stars if I could.

What- a $20 Inactivity fee! – I was very disappointed by the $20 per annum G&C Mutual charge as an inactivity fee. In discussion with them they pointed out that one must make a transaction every year to not incur the fee as described in their fees section. I told them that they had deposited very generous interest payment of 2cent a month and I considered this to be a… Read more

transaction. They said bank transactions were not counted as a transaction and when questioned further they directed me to another section "terms and condition" I felt that they purposely did not keep this information together so they could charge the $20 fee per year. I believe that this process is unethical since it is not upfront with their customers. Furthermore, an inactivity fee of $20 is outrageous. I just realised that this fee was instituted about 2 years ago, but not anymore as my little emergency fund will be taken out of G&C Mutual and deposited elsewhere.

Scum of the earth – Putrid slime-ball scum-buckets who do nothing all day and take pleasure in deliberately pushing people to the very last second of every single one of their obligations to their customer. Their own code of conduct contradicts itself by promising to do the very best they can and not confronting several banking issues which is in those written… Read more

promises of other banks to their own customers.

They will laugh in your face after telling you that your issue won't be dealt with because it is not their problem and constantly lie to you if they have made an error.

I have experienced this several times with these evil, morale-less criminals.

Alternate bank – Always cheaper ...friendly staff with good financial advice..no fuss banking... If you like electronic banking this will suit you if you want to go to the counter for each transaction it won't.....plus they always pass on reductions in loan rates. Credit unions are for their members not the shareholders actually e members are the shareholders. The interest rate and the staff

Go to a bank. More competitive and handy – I've been with SGE Credit Union for 19 years. I have both a home loan and term deposit with them. In the last 2 they have been sending out letters whenever the RBA has announced a rate cut stating the new rate, but not what the reduction was. The reason they did this (after a bit of research) is they passed on a rate reduction which was lower than… Read more

the big banks. There interest home loan interest rate is now as high as that of a standard bank. They have also in the last couple of years drastically increased there fees (you get charged after a certain amount of transactions including bpay, transfers, automated payments, eftpos, etc. Also, they have been cutting there investment rates at or beyond the RBA rate, so term deposits interest decreases drastically at turn over.

I rang and spoke to management over what they were doing to my credit union. He said the cost of getting money elsewhere to pay for loans has increased, hence the increases, then mentioned most of the money for loans comes from members investments. He mentioned they were more personal as there were only 12 people in there call centre and Westpac has 2000. I mentioned the local westpac branch has 3 or 4 people. I mentioned banks have higher infrastructure costs, yet are more competitive. He said that they also have infrastructure costs they have to pay for. 1 branch in Melbourne. He then mentioned you can use a post office to deposit cheques. 10 day clearance time. He said that other credit unions were going out of business or merging to stay alive in such a tough environment and SGE was going strong. He then went on to explain that SGE would be merging with a smaller credit union later in the year. I asked him why I should stay with SGE after the changes. He told me if I didn't like it, go else where. I did, and so should you. Many years ago they were great. Friendly staff. Very competitive. Now management has run them into the ground. High fees. High loan interest rates. Low investment rates. Apathetic management.