Alternate Reference Numbers
Have you noticed the changes to your last statement?
When you look at your statement you may notice that there is an additional number next to your account description (as per the example shown below).
SAVINGS
S1 ON CALL SAVINGS – JOHN AND MARY SMITH (100001001)
Then a list of all transactions
As well as this additional number you will still have your member number at the top of the page.
This new 9 digit number is called an Alternate Reference Number and it can be used for direct credits and direct debits.
For example, you may have something similar to the following printed on your statement:
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John and Mary Smith
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Statement Number
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999
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10 Main St
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BSB Number
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802-841
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Sydney NSW 2000
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Member Number
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0000001111
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Statement Issue Date
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01/01/2010
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Member Shares
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$10.00
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SAVINGS
S1 ON CALL SAVINGS – JOHN AND MARY SMITH (100001001)
Then a list of all transactions
S50 E*SAVER – JOHN AND MARY SMITH (100001002)
Then a list of all transactions
LOANS
L16 INTELLIGENT MORTGAGE PLUS – JOHN AND MARY SMITH (100001003)
Then a list of all transactions
WHY WOULD YOU NEED TO USE THIS NEW ALTERNATE REFERENCE NUMBER?
Here are some examples of when you may need to use an alternate reference number
- If you know that you have a direct credit that you would like to be deposited directly into your S50 account you can quote LCU’s BSB which is 802-841 and the alternate reference number for your S50 account, which in this case would be 100001002.
- If you are salary sacrificing and you wish the funds to go directly to your home loan or car loan you can use LCU’s BSB which is 802-841 and the alternate reference number for your loan account, which in this case would be 100001003.
- If you have a direct debit that you wish to come out of your S1.1 account for budgeting reasons (eg rent, health fund, credit card etc) you can use LCU’s BSB 802-841 and the alternate reference number for your S1.1 account, which in this case would be 100001005.
Please note that you cannot direct debit an S50 account as per the terms and conditions of the S50. - If you are transferring funds from another financial institution (ie bank, building society or credit union) and they are requesting a longer account number you can use the alternate 9 digit reference number.
CAN YOU STILL USE YOUR MEMBER NUMBER FOR DIRECT DEBITS AND CREDITS?
Yes, you can use your member number as an account number. This number is unique to you. Any direct debits or direct credits that are processed against your member number will be actioned against your default savings account (ie S1, S8, S20) unless you have a prior arrangement with LCU.
