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Latest News



Savings Interest Rate Changes

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We are increasing the interest rates for the following savings products, effective 1 August 2022.

  • Bonus Saver (S7) for balances $1 - $100,000 interest rate increased by 0.50% to 1.25% (inclusive of the base plus bonus rate)1.
  • Power-Up eSaver (S6, S51 & S71) for balances $1 and over interest rate increased by 0.50% to 0.90%3.
  • Christmas Savings Account (S4)2 for balances $1 and over interest rate increased by 0.50% to 1.10%4.
  • Pensioner Security Account (S8 & S72) for balances $1 - $45,400 interest rate increased by 0.50% to 1.26%4.
  • Pensioner Security Account (S8 & S72) for balances over $45,400.01 interest rate increased by 0.50% to 1.45%4.

Read more: Savings Interest Rate Changes

 

Special tribute to Ina Heidtman

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We pay special tribute to Ina Heidtman upon her passing on 18 May this year.

Ina was one of the 20 distinguished Member signatories whose support gave rise to the formation of the Waterside Workers of Australia Credit Union in 1970; the foundation stone for what we now know as Unity Bank.

Among her many achievements, Unity Bank stands testament to the vision and the lifelong commitment of Ina and her fellow signatories to supporting Australian workers.

Read more: Special tribute to Ina Heidtman

 

Changes to Privacy Policy and Privacy Notification

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There are changes being made to our Privacy Policy and Privacy Notification.

Read more: Changes to Privacy Policy and Privacy Notification

 

Flood relief: Unity Bank Community Support Package

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With floods impacting many families and communities across eastern Australia, Unity Bank again stands ready with our Community Support Packages, including:

Read more: Flood relief: Unity Bank Community Support Package

 

Director Nominations 2022

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Nominations for candidates for the 2022 Election of Directors open 11 July 2022 and close at 4pm (Sydney local time) 1 August 2022. The current term of Mark Watson is due to expire and he has indicated his intention to restand. If you would like to receive a Director Nomination Pack, please advise your local branch or contact our Call Centre on 1300 36 2000.

Please note that nominees are required to fully comply with APRA Fit and Proper and Banking Executive Accountability Regime standards and are subject to criminal and bankruptcy checks, etc

Read more: Director Nominations 2022

 

Important Reminder: Making payments in the new app

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Thank you to all our members for embracing the new app! We appreciate that changes with technology can be challenging.

Did you know?

Making a payment looks a little different in the new app. When making a payment to a BSB/account number, be sure to check the ‘To’ payee section, where you can choose the pay type as Standard or Osko (if the receiving institution accepts both).

Read more: Important Reminder: Making payments in the new app

 

The NEW Unity Bank app has arrived!

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We're very excited to announce that our brand-new Unity Bank app is now published and available for you to update.

Read more: The NEW Unity Bank app has arrived!

 

Changes to our Account & Access Facility Conditions of Use document

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There are changes being made to the Account & Access Facility Conditions of Use document.

Read more: Changes to our Account & Access Facility Conditions of Use document

 

Change to Interest Rates

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Published on 16 May 2022

The Reserve Bank of Australia (RBA) announced an increase in the cash rate of 0.25% on the 3rd of May. After considering the needs of both our borrowing and investing members, we are making changes to some of our loan rates. Please note that the increase will apply to all variable rate credit facilities including home loans, personal loans, credit cards and overdrafts.

Read more: Change to Interest Rates

 

Let us know you're travelling overseas

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If you're going overseas, please let us know. It means we'll expect some transactions from overseas and can help look out for any suspicious transactions.

Read more: Let us know you're travelling overseas

 

May Day 2022

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May Day is a worldwide celebration of worker’s rights held over many years. Unity Bank participated in an enjoyable family day featuring live music, food and entertainment.

Read more: May Day 2022

 

Central Coast Regional Show

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Unity Bank has been the major sponsor of the Central Coast Regional Show since 2019, most recently held 30th April - 1st May 2022 at the Gosford Showground. With great success, the show offered fruit & vegetable judging, cake decorating, knitting & craft, animals, cars, kids' activities and more—a great family fun day. Unity Bank will always be a community bank & support our local communities, putting our members first always.

Read more: Central Coast Regional Show

 

Sanctions on international transfers and payments involving the state of Russia

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Unity Bank Limited supports and must uphold the sanctions on international transfers and payments involving the state of Russia. This will impact SWIFT, Visa, Mastercard, Western Union and other payments directed to or coming from Russia.
 

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Always Be On The Lookout To Avoid Scams

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Smiley face As your Mutual Bank, we strive to educate and operate vigilantly to prevent our Members from falling victims to scams or frauds. In the past few years, we have advised Members about different types of scams. The latest scam is where the caller identifies themselves as a representative of the "Fraud Department", "Visa Fraud Monitoring Team" or "Fraud team in Collins Street Melbourne" to coerce Members to provide their personal information, card number and transactional data.

Read more: Always Be On The Lookout To Avoid Scams

 

What is the ‘Flubot’ scam?

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Published on September 27 2021

With the popularity of online shopping and home delivery, many Australians have started receiving scam messages regarding missed calls, voicemails, or unexplained notices of deliveries. The Australian Competition and Consumer Commission (ACCC) are receiving thousands of reports daily about these scams which originated overseas earlier this year.

Read more: What is the ‘Flubot’ scam?

 

In honour of John Coombs

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I’m saddened to let you know of the passing of former Chair of Unity Bank, John Coombs, following a long illness.

Read more: In honour of John Coombs

 

An Important Change to our Relationship Rewards Program.

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Published on 31 May 2021

We are changing our current Relationship Rewards Program (RRP) to a new simpler fee structure that will provide greater certainty and peace of mind for Members who use Visa Debit (excludes Business Accounts).

Currently, you receive a limited number of free transactions per month. You are then charged with excess transaction fees when you’ve exceeded your limit.

Effective 1 August 2021, transaction fees will no longer exist under the RRP. These fees will be replaced with the new Monthly Usage Fee. This new fee is capped at $5.00 per month per membership, and it gives you unlimited VISA Debit transactions throughout Australia.

Whether you are transacting at an ATM, a retail store or online shopping, you will be able to use Visa Debit without worrying about excess fees. The unlimited transactions apply not just on physical cards but also to digital cards linked to your personal account like Apple Pay, Google Pay and Samsung Pay. Please note that some privately-owned ATMs may still have a Direct Charge prior to proceeding with the transaction.

Read more: An Important Change to our Relationship Rewards Program.

 

Spear Phishing: What is it and how to protect yourself.

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Cybercriminals are once again working hard to take advantage of the COVID-19 situation through new phishing campaigns. Most recently, a wide range of political and private-sector organisations in Australia have come under cyber-attack by a “sophisticated state-based cyber actor”. This phishing tactic is called spear phishing.

Read more: Spear Phishing: What is it and how to protect yourself.

 

Important Change to Osko® Daily Limits

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As part of our ongoing commitment to protect our Member’s funds from fraud, from 3 March 2021, we will be reducing the daily limit for payments via Osko® to $1,000 per account per day.

Read more: Important Change to Osko® Daily Limits

 

Personal Loan Checklist

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Knowing what documents you need when applying for a personal loan can be tricky. Below is a list of necessary items to help you when applying for a personal loan.

Read more: Personal Loan Checklist