Anyone using Community First Credit Union

[Zeddy]

We are looking to finance our PPoR with Community First Credit Union.

http://www.communityfirst.com.au/default.asp?page=/home

Their rates are quite low, and they offer an offset account for their fixed and basic variable rate loans. However, in these times of troubled finance, I am wary of going with a lender without backing from a big bank (eg OneDirect - ANZ, MyRate - ING). They do not have any such backing I am aware of.

Has anyone got a loan with this mob? What are your experiences? For those who do not have a loan with them, if anyone can comment on the risks of going with a smaller lender I'd greatly appreciate your input.

 

[Rolf Latham]

Hiya ZED

As a broker, I used CFCU a LOT while they were still in the broker space.

In general I would say a CU or building society is a pretty safe space for a borrower, because I cant see them raising big funds offf shore

ta
rolf

 

[Zeddy]

Thanks Rolf, that really sets my mind at ease.

 

[josko]

Hi Zeddy,

I used them for a few loans and still have a Savings Account I transfer money around in becasue they don't charge me fees!

I can pretty much say that out of all the banks I have had dealings with (MANY) Community First wins the Customer Service and Good Value Award!

(No I don't work for them!)

Regards JO

 

[Zeddy]

Thanks josko! At first I thought their deal was suspiciously sweet. With you guys saying it's legitimate, I'm much happier.