The introduction earlier this year of a new “foreign ATM charge” again highlighted the vast number of different fees that financial institutions charge their customers. There are account-keeping fees, transaction fees, application fees, set-up fees, card fees, dishonour fees and a huge array of other
“u-name-it” fees.
 
Credit Unions are not immune from this. We operate in a global financial system and are charged ourselves by other financial institutions when our members interact with other organisations – by using non-rediATMs, writing cheques presented at other banks and so on.

The difference is that our Credit Union's “not-for-profit” philosophy means that our fees and charges are structured to only recoup the cost of providing services and pass on fees which our members directly incur.

We prefer it when our members do not pay any fees or charges at all!

In fact, we go out of our way to introduce products and facilities to enable members to eliminate fees altogether – or at lease keep them to the absolute minimum.

For a start, we still reward loyalty by providing members who use us as their main banking institution, by having their mortgage, savings accounts and VISA Card etc with us. To ensure unlimited electronic transactions per month when using your SGE Visa Debit Card, select 'credit' instead of 'saving' payment option.

We also have our new Reward Me Saver account for people who do not have a mortgage. This is a special high interest account which also offers unlimited free electronic transactions a month, provided you use your account correctly.

Put us to the test! At SGE Credit Union we are so confident that we can save members money on banking fees and charges that we invite you to put us to the test. Tell us what you are currently paying in banking fees and charges – whether with SGE Credit Union or another financial institution – and we will provide you with a banking solution to totally eliminate or minimise fees.