I’VE always wondered what the real difference was between mainstream banking organisations and our local Goulburn Murray Credit Union (GMCU). I mean, I’d always had an idea that the GMCU was a worthy institution to be a part of but I didn’t really know why. I met with GMCU general manager, René Deen and compliance manager, Brett Elgar to discuss why I would choose to bank with the GMCU above other lenders.
René said, “The GMCU is a customer owned banking association with customers equally owning a single two dollar share of the company. The GMCU offers competitive loan interest and deposit rates in line with the big banks and just like other banks, GMCU’s customers are protected by a government banking guarantee.”
With 10 branches throughout Victoria and $311M in branch assets, the GMCU have all of the necessary bells and whistles customers require and are typically on the forefront, using latest technology to provide efficient banking services and systems to customers.
Brett said, “The GMCU benefits from our client’s financial growth and so we work hard to guide and support them as owners of the business.”
I asked Brett how much one would be able to borrow with an $80,000 deposit, Brett replied, “That’s the wrong question. What we would be asking is how much you could comfortably pay over a reasonable term. GMCU up-hold a duty of care to our customers. We don’t use banking brokers and it is imperative that the GMCU are good corporate citizens sponsoring a variety of community organisations.”
What I came to understand about the GMCU by the end of our meeting was that it is a progressive association with a direct connection to all customers, which impacts on the local community. The GMCU brings about local financial unity.
Drop in to the GMCU to open your account today.