Homeowners to save with CUA rate drop of .80 percent
6 November 2008
CUA has dropped its standard variable rate by 0.80 to 7.62 percent following the RBA’s decision to cut the official rate by 75 basis points on Tuesday.
Acting Chief Executive Officer Mr Rob Nicholls said the credit union had lowered rates by more than the official rate to benefit homeowners.
“As a community driven organisation, CUA’s focus is not filling shareholders pockets like the big banks but rather doing what we can to assist our members and those looking to enter the home loan market,” he said.
“It’s a bold move to drop our standard variable rate by 0.80 percent but one we know our members will appreciate.
The rate is effective from Friday 14 November 2008.
