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Following the RBA's decision to decrease the official cash rate by 0.25%, GMCU will pass on the rate cut in full and decrease home loan variable interest rates by 0.25% p.a., effective 1 March 2025.  We’re member-owned and we always balance the needs of all of our members - including members with deposits too.   While some of our savings interest rates will decrease, we will be increasing the rate on our 3 month term deposits to 4.25%*. And our at-call Advantage Saver remains well above the official cash rate attracting up to 4.50% p.a#.   Our local team are on hand to discuss your options if you need support in navigating the rate changes. Call us on 1800 MY GMCU (1800 694 628) or send us an enquiry here.    * Rate effective from 1 March 2025 for a 3 month Term Deposit of $5,000 and over, with interest paid at maturity. # Bonus rate is earned in months where you deposit at least $20 and make no withdrawal (including electronic debits). Variable Interest. Calculated on Daily Balance. Portion in each tier earns the rate for that tier. Interest paid monthly. Refer to Conditions of Use for full details.

Media Release GMCU welcomes new CEO to the Goulburn Murray region   Thursday 28 November 2024 – Shepparton Goulburn Murray Credit Union Co-Operative Ltd (GMCU) has announced the appointment of Richard O'Nians as Chief Executive Officer at its Annual General Meeting held last night. Chair of GMCU, Eugenie Stragalinos, welcomed Mr O’Nians in her Chair’s address, noting his deep connections to regional Victoria and extensive experience in financial services.   "Richard brings over 30 years of experience in the financial services sector, including leadership roles in business banking, retail banking, risk management, and financial reporting,” Ms Stragalinos said. “He has built and led high-performing teams, fostered strong customer and community relationships, and driven strong business results across his career. “As we move into 2025, we will face into some challenging economic conditions. The board is reassured to have a leader of Richard’s calibre navigate GMCU through those times,” she said. Mr O’Nians has longstanding connections to regional Victoria and is looking forward to broadening his ties to the community.   “I’m passionate about seeing regional and rural communities thrive, and I’m looking forward to being part of an organisation that can directly contribute to positive outcomes for the communities they operate in,” Mr O’Nians said. “I look forward to spending some time across our branch network and in the community to get an understanding of the unique issues impacting them,” he said. Mr O’Nians commences his role on Monday 2 December 2024.   Ends. About GMCU: Goulburn Murray Credit Union Co-Operative Limited (GMCU) has been providing local banking solutions since 1955 across 10 locations in the Goulburn Murray region. As a member-owned organisation, 100% of profits are reinvested into the products and services for our members, as well as community initiatives to help local people grow, thrive and succeed. Find out more.   Highlights of GMCU’s Financial Performance for the Financial Year ending 30 June 2024: Net Profit After Tax of $2.2 million Total assets increased by $25 million to $558 million Lending growth 10% year on year

Welcome to our refreshed GMCU website.   Our new and improved website experience is easy to navigate, making it simple to understand and manage your banking, loans and insurance with us.   Our web address (URL) remains the same – www.gmcu.com.au - and internet banking is still accessible via the Login button in the top right corner.     We’ve been laying the foundations for a seamless digital banking experience.    We’ve been focused on rolling out a range of improvements when it comes to all things digital at GMCU – including our recent upgrades to both Internet Banking and our Mobile App.   Keep a look out for clever new tools, features and services across our website, app and internet banking soon. We love your feedback – contact us to send it through.  

Our Internet Banking has a new look! The GMCU Internet Banking platform has been upgraded - giving our members a modern, intuitive, and easy-to-navigate online banking experience. The upgrade continues to provide us with safe and secure digital banking in  the back end, while also  allowing us to roll out new features and services to you quickly and easily in the future. What’s changing? Nothing for now. Just a great new facelift to the GMCU Internet Banking platform that you’re familiar with. Keep a look out for new features and services soon.   What do I need to do? Nothing! Simply login to Internet Banking via gmcu.com.au as you normally would, using your member number and password. And remember, to keep safe when banking online – only login via our website (gmcu.com.au)   Creating a great digital banking experience for our members We’ve been focused on rolling out a range of improvements when it comes to all things digital at GMCU, including a new and improved website and the recent upgrades to our mobile app.    Where can I go for help? This version of Internet Banking is extremely intuitive. Within a few clicks, you should be able to find what you need. If you have any questions or concerns, please call us on 1800 MY GMCU (1800 694 628), send us an email (info@gmcu.com.au) or drop in to any of our branches.  

Buying a new home is exciting But to make sure you are making the best decision, you need to be sensible and do your homework ahead of putting in your offer. With this in mind, below are five tips to help you secure your dream home, or investment property with confidence:   1. Ensure you know what you are getting yourself into. Take your time with this process; once you have settled on a property, there’s no turning back. It’s essential for you to know what you are buying and to be aware of any issues that may arise. Building reports: a written account of the property's conditions. Building reports can be helpful to negotiate a lower price if there is damage that will need to be fixed. Pest inspections: Thorough visual inspection of the roof void, subfloor, and external buildings and gardens for any pests. Pest inspections are important as they can prevent many expensive damages that may occur after purchase. Strata report: If you are looking to buy an apartment, unit, or townhouse, the strata report covers all the aspects involved in running and maintaining a block of properties and all the common areas that go with them.   2. Scout the neighbourhood. This can be easily done by taking a walk around the area, checking out the local coffee shop, and getting a sense of the community.   3. Make sure you understand what the future holds in the local area. Check with local councils for any new infrastructure impacting your property. Your local council will be able to tell you about the zoning for your property and if there are any new developments planned.   4. Do all costs fit into your budget? Buying a property involves a lot more than just the purchase price. You need to consider the following figures in your budget. Stamp duty Conveyancing fees Mortgage Insurance Building insurance Moving costs Strata fees Ongoing mortgage repayments   5. Find the best home loan value. You can choose with a Fixed or Variable interest rate home loan that will allow you to be comfortable in your property purchase. Fixed Rate A fixed interest rate loan is a loan where the interest rate on the loan remains the same for the life of the loan. Variable Rate A variable interest rate loan is a loan where the interest charged on the outstanding balance fluctuates based on an underlying benchmark or index that periodically changes. Whether you choose to fix your home loan, or prefer a variable option it is really down to personal preference and your financial circumstances.   Our local Lending Specialists can talk you through the right information, to find the right product for you. Talk to us today.

Buying a house is exciting and life changing. It all starts with saving for the deposit. Set a clear goal. Ensure you’re clear on the type of property you’d like to be buy, with a clear idea of what you want. Consider some of the following: Ideal locations and distance to work. The type of home (e.g. stand-alone, townhouse or apartment). The number of bedrooms. Whether you want to buy or build. Be sure to understand what are non-negotiables and those areas you’re willing to compromise. Find your budget. It is a good idea to look at properties in the potential area you want to buy a house in. Once you have found a few properties that you are interested in and have a price-guide in mind, you will need to understand whether you can realistically afford the property. Deposit: A 20% deposit is ideal when purchasing a property. However, you may be able to buy with less. Borrowing: This is the time to talk to the GMCU team to assess your borrowing capacity, understanding how much you can borrow. Repayments: Consider the GMCU Home Loan Repayment Calculator to find out what your repayments could be. Save the deposit Now that you have a good idea of how much you need for a deposit, you can put a savings plan in place. If you are buying a house with someone else, make a savings plan together. Automating your Savings, with set-up transfers allow you to 'set and forget'. You can grow your savings without having to worry about transferring money each pay. Our local Lending Specialists can help you understand how much you’ll need for a deposit, and assist with achieving your savings goals. Talk to us today.