Gateway Credit Union committed to a fair go

Gateway, one of Australia’s leading credit unions has announced that it will reduce interest rates on all of its variable rate home loans by 0.25 per cent. This means that Australian consumers come out the winners of the Reserve Bank of Australia’s (RBA) announcement to lower the Official Cash Rate.

Gateway CEO Paul Thomas said “Members are at the centre of everything Gateway does, so it should come as no surprise that Gateway was committed to passing on the rate reduction to Members in full.”

The reduction to Gateway variable rate home loans will give Members more money in their pocket, with potential savings on an average loan of $250,000 over 25 years of around $40 each month.

The decrease to Gateway’s variable rate home loan products will be effective for new and existing Members from Tuesday 8 November 2011.

Ends.