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Chairman's Report 2018

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Written by Marketing

Read the latest report from Scott Martin, LCU's current Chairman

Read more: Chairman's Report 2018


Health & Wealth Expo 2018

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Health & Wealth Expo - A Great Success! 

Read more: Health & Wealth Expo 2018


Downsizers Super Scheme

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Written by Marketing

Super opportunity for downsizers

After 1 July 2018, if you’re over 65 and sell your home, you can now put some of the money you receive into your super.

Read more: Downsizers Super Scheme


Fond Farewells

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Written by Marketing

Fond Farewells

This year we were sad to say farewell and good luck to long standing board member Kieran Greene.

Kieran has been a member of LCU since 1975, an associate director since 1997, director since 2000 and Chairman from 2006 to 2009. That means that upon retiring at the end of 2017, Kieren had been serving on the board of LCU for a total of 20 years.

Over these two decades Kieran modelled many behaviours that define the qualities LCU value in our board, management and staff. A farewell dinner was held for Kieren giving an opportunity for everyone to express their sentiments, Scott Martin (current Chairman) had this to say:

“Each of us has a place inside of us, whose singular purpose is to overlook our lives and, when it witnesses excellence in others, to generate gratitude. I'm going to invent it now: the GRATUITARY gland. In most people it's about the size of a hazelnut, but Kieran's is colossal! 

Kieran's signature move is interjecting just as we are about to move to the next agenda item and delivering a heartfelt vote of thanks to the people involved in the preceding item - be they board member, management or staff.

Not only is it heartfelt, but it is always specific in describing how their actions have created benefit and positive impact. Without him on the board we must be collectively mindful that we emulate Kieran's gratitude and continue to always remember to pause for Kieran interventions.”


LCU - Banking App Guide to Osko

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LCU App Guide to Osko

How to receive payments with Osko

This is what you'll need to do to start using Osko today.

  • Log in to your Mobile Banking from an android or iOS device
  • Go to More in the menu bar along the top
  • Go to PayID and then tap Create PayID
  • Select a contact and choose which account you'd like to link it to (tap the "Update" link if you need to add a new mobile number or email address)
  • Tap Next then Get SMS/Get Email and enter the Verification Code sent to the contact you selected
  • Read the Terms & Conditions then tick the checkbox and click Next

You are now ready to start receiving payments with Osko.

Next time someone asks for your account details you can give them the PayID you have just registered (As long as the financial institution they are using offers Osko too). When they make a transfer to you, you'll see the funds arrive in your account seconds after they click confirm (even on the weekends!)  

If you are a business account holder and wish to register an ABN or Organisation ID please contact us as we will need to set it up for you. 

How to send payments with Osko

When you make a payment you'll notice a ne field that allows you to choose between an Osko payment (limited currently to $200 per per day) 

Choose your transfer from account, then tap New Payee.

You'll now be given a choice of Transfer method. Upon selecting one of the transfer method options and entering a valid PayID, once you tap away from the field, the name of the person or company will be shown below it. In the example below, after entering Eileen's email you can see her PayID Name. This allows you to confirm that the PayID belongs to the person or business you intend to transfer funds to. 

From there the options are identical to what they were previously, you still have the ability to schedule future-dated, as well as recurring payments. The reference on your statement is still limited to 35 characters but the Message to Payee now allows up to 280 characters. 

You'll notice a new line showing the "Remaining daily limit". The Osko daily limit is $200.00. To request an increased limit, please contact LCU (you must have SMS One-Time-Password Security active on your internet banking).  

Once you tap next, confirm the details of the transfer and finalise it, the funds will be in the recipient's account moments later. 

Fun Facts

  • You may be able to send an OSKO payment using a BSB and account number IF the payee's Financial Institution offers Osko and has the required setup
  • In fact, payments coming from other financial institutions sent via Osko with a BSB and account number will arrive in your account immediately. That's because LCU has the Osko infrastructure, you don't have to do anything to benefit from Osko today!

Related Information

As always, if you have any queries please contact us on (02) 9859 0585, on or you can complete our online enquiry form


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