Rates and Fees
-
First Credit Union does not charge account fees.
Interest Rates
Everyday Account- Credit balance
0.05% p.a.
Everyday Account- Overdrawn balance*
20.00% p.a.
Special Purpose Account
0.05% p.a.
Bill Payment Account
0.05% p.a.
Travel Account
0.75% p.a.
Expense Account
0.05% p.a.
Loan Provider Account
1.50% p.a.
Christmas Club Account
0.75% p.a.
Online Savings Account
1.50% p.a
Money Maker Account (Tiered)
$0 - $4,999
2.25% p.a. $5,000 - $99,999.99
2.50% p.a. $100,000 - $249,999.99
2.75% p.a. $250,000+
3.00% p.a. Accounts For Under 18's
Jimmy Jumper Everyday Account
2.00% p.a.
Youth Everyday Account
2.00% p.a.
Teen Everyday Account
2.00% p.a.
Account Fees
Deposits
All deposits (direct credit, automatic payment, or cash)
Free
Withdrawals
Cash withdrawal at the counter
Free
Automatic payments, Direct Debits, Bill Payments
Per transaction
Free To set up an automatic payment, direct debit or bill payment
Free Transfers
To any other First Credit Union account
Free To any bank account in NZ
Free Service Fees
Account management or monthly base fee
Free
Phone/Internet Banking access (per month)
Free
Overdraft management fee (per month)
Free
Cash handling fee
Free
Disputed transaction
$50
Note: Fees are charged at the end of each day.
*Important: Your account may become overdrawn if direct debits or debit card payments are processed when there are insufficient funds. We do not offer arranged overdraft facilities, so any overdrawn balances are unarranged and must be repaid promptly. Overdrawn balances will attract overdraft interest at 20% per annum.
-
Our normal floating rates range from 10.95% p.a variable to a maximum of 18.00% p.a variable. Your interest rate depends on the amount borrowed, your personal circumstances and credit history. The interest rate and repayment amount remain the same for the life of the loan with no early repayment fee.
First Credit Union does not charge any application fees, however, third-party service fees may apply.
Third-party Fees
Credit Check
$4.60
Credit Sense
$3.50
Motor Check
$4.80
PPSR
$8.05
Docusign (Remote signing)
$5.40
Cloudcheck
$3.25
Note: If we charge you any of the above fees or costs, we will add that amount to the principal amount of your loan. That means we will charge interest on that amount until you pay it.
-
Term
Rate
3 Months
3.20% p.a
6 Months
3.65% p.a.
9 Months
3.70% p.a.
12 Months
4.00% p.a.
18 Months
4.10% p.a.
24 Months
4.30% p.a.
Minimum deposit of $500. Interest rates are quoted per annum and are subject to change without notice.
Early withdrawal - If First Credit Union believes you have suffered real financial hardship, it has the discretion to allow you to withdraw your term account investment early. In these circumstances the interest rate may be adjusted to the nearest shortest-term deposit period prior to your early repayment request and/or an early withdrawal fee of 1% p.a. may be charged.
After a longer term for your deposit? Give us a call or visit your nearest branch.
-
Mastercard® Debit Card Fees
Card Fees
Fee Type Fee First Debit Mastercard® Issue Free Replacement Debit Mastercard® $13.00 per card Administration Fee $5.00 (charged six-monthly)
New Zealand Transactions
Applies to Debit Mastercard® transactions processed within New Zealand, including purchases made in-store, online, via mobile wallet, and ATM transactions.
Transaction Type Fee Debit Mastercard® Transaction $0.35 ATM Cash Withdrawal $2.25 ATM Balance Enquiry or Declined Transaction $2.00 What is a Debit Mastercard® Transaction?
A Debit Mastercard® Transaction includes purchases made using your Debit Mastercard® in New Zealand by:
- Inserting your card (chip)
- Swiping your card (magstripe)
- Tapping your card (contactless/payWave)
- Using Apple Pay or Google Pay
- Making online or in-app purchases
Teen Account Fees
Teen account holders may apply for a Debit Mastercard® with parent or guardian consent.
Transaction Type Fee ATM Cash Withdrawal $0.50 ATM Balance Enquiry $0.50 Debit Mastercard® Transaction Free
International Transactions
Applies to Debit Mastercard® transactions processed outside New Zealand, including overseas travel and purchases from overseas merchants.
Transaction Type Fee International ATM Withdrawal $9.00 International Debit Mastercard® Transaction $0.80 Foreign Currency Conversion Fee 2.25% of the NZD transaction amount
Other Fees
Fee Type Fee Disputed Transaction $50.00
Understanding EFTPOS and Debit Mastercard Transactions
Many New Zealanders think about card payments in one of two ways:
Transaction Type What Members Commonly Use EFTPOS Transaction
Insert or swipe your card and select Cheque (CHQ) or Savings (SAV) Debit Mastercard® Transaction
Press Credit, tap and pay (contactless/payWave), use Apple Pay or Google Pay, or make an online purchase Please note: Some chip-insert transactions may still be processed through the Mastercard® network depending on how the merchant terminal is configured. The transaction type used and any applicable fee is determined by the payment network selected during processing.
Important Information
- Your first Debit Mastercard® issue fee is waived.
- Some merchants may charge an additional surcharge for contactless, mobile wallet, online or international transactions. Any surcharge is set by the merchant, not First Credit Union.
- Some ATM operators, particularly overseas, may charge their own ATM usage fee. Where applicable, this fee should be disclosed before you complete the transaction.
- International ATM withdrawal fees include settlement and ATM interchange costs.
- Foreign currency conversion fees apply when a transaction is processed in a currency other than New Zealand Dollars or is processed by a merchant located outside New Zealand.
-
Floating
6.49% p.a
1 Year Fixed
2 Year Fixed
Special
(Less than 80% LVR)
5.09% p.a
5.49% p.a
Standard
(Greater than 80% LVR)
5.69% p.a
6.09% p.a
First Credit Union does not charge any application fees on our Home Loans.
Lending criteria apply.
-
Credit Bureau Lodgement $25.00 Arrears Letter $10.00 Notice of arrears letter $20.00 Direct / Instalment Debit Dishonour fee $10.00 Pre-possession notice fee $30.00 Repossession fee $50.00 Post possession notice $25.00 Statement after sale fee notice $25.00 Final notice fee $20.00 Demand Notice fee $50.00 Property Law Act Notice $150.00 Council rate fee $25.00 Fees and Costs
If we charge you any of the above fees or costs, we will add that amount to the Loan principal. This means you will be charged interest on these.
Recovery Costs
We will charge you any third party costs relating to your Loan agreement (e.g. repossession agent, field visit agent, and legal provider). We can provide copies of the invoices on request.
-
The following fees may be charged
Alter an existing automatic payment $5.00 Automatic Payment- per cancellation $3.00 Dishonoured direct debit (inward and outward) $10.00 Direct Credit Recovery $25.00 Dormant account fee (per year)* $30.00 Overdraft (Unarranged) $10.00 Statement request $2.00 Transaction search fee (per hour) $25.00 Loan Provider early withdrawal fee $20.00 S8 Online Savings Account- staff assisted withdrawals or transfers (one free transaction per month) $5.00
S10 Money Maker Account- staff assisted withdrawals or transfers (one free transaction per month) $5.00
*Dormant Account Fee is fully refundable