Credit unions, building societies offer ATM fee relief, flood assistance
14 January 2011
Credit unions and building societies are assisting the flood relief effort with QLD-based institutions offering hardship packages to affected members, and removing ATM-direct charge fees for the next two weeks.
Mutuals including CUA, Heritage Building Society, Warwick Credit Union, Queensland Country Credit Union, the Capricornian, Queensland Teachers Credit Union, Railways Credit Union, Queensland Professional Credit Union, DefCredit, Queensland Police Credit Union and mecu Ltd, among others (full list forthcoming) have confirmed that they will waive all ATM direct charge fees for non-members in line with Minister Shorten's announcement today. The measure will be implemented over the weekend.
Credit unions and mutual building societies have also put in place financial hardship packages to assist those in flood affected areas. Please contact your mutual directly for details. Credit unions and building societies are promoting the Queensland Premier's Appeal and providing community assistance.
Hardship packages available to members facing financial difficulty include measures such as:
- Opportunity to suspend home and personal loan repayments for up to three months,
- Waiver of late fees for home and personal loan repayments,
- Opportunity to suspend credit card payments for one month,
- Waiver of debit card replacement fee,
- Waiver of personal loan establishment fee,
- Waiver of term deposit break costs,
- Refund of transaction fees.
"The devastation and tragedy in Queensland affects us all, and our thoughts are with Queenslanders at this time," said Abacus CEO Louise Petschler.
"Individual credit unions and building societies will be standing beside their members now and in the difficult months ahead."
For more information, please contact:
Pamela Eldridge
Senior Adviser - Media, Public Affairs
(02) 8299 9024; 0423 843 790
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