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Credit Union SA has increased its commitment to South Australia’s education community by introducing a new credit card designed specifically for teachers and employees of the education sector, and offering one of the lowest interest rates in the nation and no annual fee.

Credit Union SA CEO, Mr Grant Strawbridge, said the new Education Community Credit Card, recently launched at an event in the State Library, had been developed in consultation with educators to deliver on their specific financial needs.

“Credit Union SA has worked alongside and supported the education community for more than 50 years, so we are particularly pleased to build on that long-standing involvement by announcing the Credit Union SA Education Community Credit Card. This is our way of recognising and rewarding the efforts of teachers and education staff in nurturing generations of students,” Mr Strawbridge said.

“To ensure an easy transition from any other financial institution, a 0%pa interest rate applies for a 6-month period that not only covers the entire balance transfer, but also extends to any purchases made during that time, before reverting to one of the lowest interest rates currently available on the market,” he said.

“Our staff at Credit Union SA are very active in speaking with teachers and support staff in schools and staff rooms, and that feedback has directly influenced this exclusive card.

The new Education Community Credit Card includes the following benefits:

  • $0 annual fee;
  • Low 9.99% pa interest rate;
  • 0% introductory rate for the first 6 months; and
  • No ATM withdrawal fees, including overseas ATM withdrawals;

For teacher Angas Wallace, the introduction of the new Education Community Credit Card couldn’t have come at a better time. After graduating mid-2016, the 27 year old had several temporary teaching placements before recently taking on a permanent role as a Science Teacher for Year 8, 9 and 10 students at St John’s Grammar.

“The teacher-specific benefits of the Education Community Credit Card all make a difference, and add up to some great benefits and savings over time which will help me to save for my first home. I had been with my previous bank for a long time, and in hindsight I had become a bit complacent with my finances – but the transfer process was very easy and my money is working much better for me.”

The Education Community Credit Card is the latest in a number of initiatives by Credit Union SA to support the state’s education sector. The highly-successful School Community Rewards program has more than 18 schools now actively participating, as a way to bolster their fundraising efforts.

Mr Strawbridge said the School Community Rewards program provided opportunity for a Credit Union SA member who has a savings account, home loan or any other product to nominate a participating school to receive financial contributions from Credit Union SA.

“By members of the school community – parents, grandparents, teachers and staff – doing nothing more than putting their banking needs into the safe hands of Credit Union SA, a participating school can generate extra funds to buy computers for classrooms, playground or sports equipment, library resources or realise some other worthwhile project,” Mr Strawbridge said.

“This program is good for the school and good for families, and as a member-owned organisation we are proud to give back profits to worthwhile community endeavours rather than having to focus on making profits and paying dividends to shareholders like the big banks,” he said.

The Education Community Credit Card is the latest innovative product to be developed by Credit Union SA, which has previously been recognised as one of the nation’s top credit unions by consumers in the prestigious Mozo Awards in 2013 and 2015. In 2015 Credit Union SA scored gold in the ‘Best Low Rate Credit Card’ category in the Mozo Expert Choice Awards and in 2016 for the second year in a row, was named one of the country’s best value personal loans, taking out the top award in both the Car Loan and Secured Personal Loan categories.

About Credit Union SA

Credit Union SA is South Australia’s third largest credit union, with over $960 million in assets, around 49,000 members and proudly employs over 140 South Australians. Credit Union SA Ltd ABN 36 087 651 232 AFSL/Australian Credit Licence 241066, Credit Union SA Centre, Level 3, 400 King William Street, Adelaide SA 5000. GPO Box 699 Adelaide SA 5001.

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