Home Loan Rate Cut
Announcement posted by ECU - easier fairer banking 13 May 2013
9 May 2013
Following yesterday’s decision by the RBA to lower the cash rate by 0.25% per cent, ECU - the region’s largest locally based financial institution - announced that it is dropping its standard variable home loan rates by 25 basis points.
ECU’s CEO Colin Daly said “it was great news for our home loan customers and reinforced our commitment to easier fairer banking”.
“We are always looking after the financial needs of customers and giving them a safe and competitive banking alternative and choice coupled with personalised service that’s all about the members.”
As a Credit Union we put members first – reinvesting our profits to benefit members - in the form of competitive rates, fairer fees and outstanding service.
The reduced interest rate will save borrowers with a $300,000 Home Loan $46 per month; off a rate that was already lower than any of the 4 major banks.