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Why Join LCU?

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Why Should I Join My Local Credit Union? 

Find out what credit unions are, how they differ from the big banks, and what you stand to gain from joining.

Banks talk about themselves too much - watch this short video to hear what our members' think about LCU:

Apply Online Enquire

What is LCU? A Credit Union! What is that? 

Credit unions are organizations that exist to serve their members. Like banks, credit unions accept deposits, make loans and provide a wide array of other financial services.

But as member-owned and cooperative institutions (unlike banks), credit unions provide a safe place to save and borrow whilst always keeping their members’ interests first.

With a bank you are simply a customer. Banks are for-profit institutions and their goal is to make money for the shareholders of the company. A credit union’s goal is to pass through profits to the members.

This comes in the form of added member benefits such as:

  • Low fees
  • Fair rates
  • Excellent service
  • The latest products and technology.

LCU vs a Big Bank

But are Credit Unions Safe?  

In a word, yes. The Australian Government guarantees deposits up to $250,000 in Authorised Deposit-taking Institutions (ADIs) such as banks, building societies or credit unions. That means that this money is guaranteed if the institution collapses. So, your funds are just as secure regardless of which institution you are with. All the same regulations, guarantees, and governing bodies apply.

Govt. Guarantee

It's all about Community

If you want to be part of a Credit Union that is different from other financial institutions then you’ve found the right place. LCU has a strong history of involvement in the community. After all, we are here to serve. Here are just some of the ways we help our local community:

  • Tertiary Scholarships – LCU awards 12 scholarships each year to high school (and TAFE students) who qualify. We hope via these tertiary scholarships that we can encourage our young members to aspire to further study to gain the tools they need to achieve their goals in life.
  • CSIRO Alumni – Each year LCU contributes to the Alumni annual scholarship in physics which aims to send a student to work with the leading authorities of their field wherever that may be in the world.
  • AMF – The Australian Mutual Foundation works with developing countries to help foster the mutual movement there, as well as conducting charitable activities and fundraising during disasters and emergencies.
  • Sponsorships – LCU sponsors the Northern Sydney Science Hub each year and as well as many local events throughout the year. Are you looking for support for your next community event in the Ryde area? Ask how we can help!
  • Local community talks and seminars – LCU proudly supports many of our local businesses and community services by offering our expertise in presenting on all topics financial.

Would your association or business be interested in a free seminar on a financial topic? LCU is happy to help our members out by organising this for you.

Book a Seminar

A bit of history...

Here at LCU, we are a locally-owned and operated credit union (member-owned financial institution) on the Riverside Corporate Park in North Ryde. LCU was established in 1954 by CSIRO staff members and started off with just 30 or so members. We have grown substantially over the years and now have over 3,000 members extending well beyond CSIRO staff and their families. 

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What do I stand to gain? 

You’ll be part of a financial institution that doesn’t charge any account admin fees, and has minimal (or no) fees for their other services. Do you want to talk to a person straight away when you call? At LCU you can. You can even ask for the same person you spoke to last time. 

And that’s not just us, LCU is one of many Credit Unions in the industry that are striving to bring a more personal, complete banking experience to you all the while reducing the fees you pay, increasing the interest you can earn, and offering a much higher standard of service.

Make the switch to a credit union today. It’s easier than you think.

Make the switch

Why LCU?

When you call LCU you will always speak to a person, not a call centre or automated phone system. We give our members not only great personal service but also a one call service outcome. Whether it is over the phone or in our branch, members love the personal service. In fact, most of our business comes from referrals.

Read Testimonials Call 02 9859 0535

Why Join Today? 

Because, at the end of the day, a credit union is people pooling their money to provide each other with affordable credit.A credit union is, quite simply, people helping people. Don’t take our word for it, give us a call today and see for yourself.

Apply Online Enquire

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