Fees, Charges & Rewards

Schedule of Rewards Fees & Charges

Schedule of Rewards Fees, Charges & Rewards

  • Transaction Accounts
  • Savings Accounts
  • Youth Accounts
  • Business Accounts
  • Non-Standard Fees and Charges

Effective 1st February 2023 Australian Financial Services Licence No 239446

This Fees Charges & Rewards Brochure document should be read in conjunction with our Products and Services Terms and Conditions and our Savings and Investment Interest Rate Schedule, before making a decision to acquire any financial product.

The fees and charges contained in this document are effective at the date of this document and subject to change. Fees, charges and interest rates relating to loan products are detailed on the relevant loan documentation.

Debiting of fees and charges
Monthly access fees and transaction-based fees and charges are debited to the account on the last day of each month. Non-standard fees and charges are generally debited to the account at the time of relevant activity.

Direct charging at third-party ATMs
If you use an ATM that is operated by a third-party (including international), you may see the charge for using that ATM on the screen before you decide whether to proceed with the transaction. This is not a CMCU transaction fee. If you decide to accept that fee, it will be separately debited to your account at the time of the transaction and will be shown on your statement.

Fee-free transactions
The following transactions are free across all of the accounts listed in this document (where the transaction is applicable to that account type):

  • Online internal transfers (CMCU to CMCU)
  • Online external transfers (CMCU to third parties) (excluding transfers setup as a future payment)
  • Direct credits
  • Over the counter deposits (excluding business accounts)

Clubs, Associations and Community Groups

Clubs, Associations and Community Groups are exempt from fees

Transaction Accounts

Everyday Account
Mortgage Offset
Single Pension Account
Joint Pension Account
Monthly Access Fee $5.00 $5.00 $5.00 $5.00
Monthly fee for subaccounts (e.g. S8.1) Free Free Free Free
Fee free transactions per month Unlimited^ Unlimited^ Unlimited^ Unlimited^

^ transactions include EFTPOS, Visa, ATM cash transactions, BPAY, direct debit, OSKO/NPP Payments, cash withdrawals, staff assisted transfers, cheque presentment fees and online transfers.

Youth Accounts

S6 Under 18’s Account

Members under the age of 18 are eligible for the S6 account. This account has no monthly or transaction fees.

S8 Youth Account

Members over the age of 12 and under the age of 21 are eligible for the S8 everyday access account. This account has no monthly or transaction fees. Once a member turns 22 this account will revert to the fees applicable for the account types they have.

Savings Accounts

  Method Member Rebate S1 Savings S4 Budget S5 Xmas Club S15 Notice of Withdrawal
Cash Withdrawal In branch per transaction Yes $2.50 $2.50 $2.50 $2.50
BPAY Transaction In branch and future payment per transaction Yes $0.50 $0.50 $0.50 $0.50
Direct Debit Per transaction Yes $0.20 $0.20 $0.20 $0.20
Electronic Transfers In branch and future payment per transaction Yes $0.50 $0.50 $0.50 $0.50
OSKO Future payment per transaction Yes $0.20 $0.20 $0.20 $0.20
Staff assisted transfers In branch per transaction Yes $2.50 $2.50 $2.50 $2.50

Business Accounts

  Method S7 Premium Business Account S11 Business Account S12 GST Account (Member Rewards Apply)
Monthly Access Fee   $5.00 $5.00 Free
Monthly fee on sub accounts    Free Free Free
Fee free transactions   Unlimited^ Unlimited^ n/a
Cash withdrawal Per Transaction Free Free $2.50
BPAY Fee In branch and future payment per transaction Free Free $0.50
Direct Debit Per Transaction Free Free $0.20
Electronic transfer In branch and future payment per transaction Free Free $0.50
Osko Future payment per transaction Free Free $0.20
Staff assisted transfer In branch per transaction Free Free $2.50    
Cheque presentment Per Transaction $0.40 Members Rewards Apply $0.40 Members Rewards Apply n/a
Cheque deposit fee Per Transaction $0.80 Member Rewards Apply $0.80 Member Rewards Apply $0.80

^ transactions include EFTPOS, Visa and ATM cash transactions.

Member Rewards

Average aggregated balance    Benefit
$0.00 - $5,000 $0.00
$5,001 - $7,500 $2.00
$7,501 - $10,000 $3.00
$10,001 - $20,000 $4.00
$20,001 - $50,000 $8.00
$50,001 - $100,000 $15.00
$100,001 - $150,000 $25.00
$150,001 - $200,000 $35.00
$200,001 - $500,000 $45.00
$500,001+ $60.00

The Member Rewards program is designed to reward those members who support CMCU by using CMCU products and services.

Each month members are allocated a Reward based on the total average balance of their loans, savings and investment accounts during the month, under a single membership number.

Members over the age of 65 receive $10.00 in extra Member Reward dollars.

The Reward automatically reduces the amount of fees you have incurred for the month. Only fees marked as Member Rewards are included in the Reward calculation.

When your fees exceed the amount of your Reward, your account will be debited only for the variance.

When your fees are equal or less than your Reward, you will pay no fees. Rewards are calculated on a monthly basis and are not redeemable or carried over to the next month.

Calculating your Member Rewards

Members receive a monthly Reward based on the total average daily balance of your loans, savings and investments over the month. This is called your Relationship with CMCU, see the example of Mr and Mrs Jones.

Example: Mr & Mrs Jones

Accounts   Amount ($)
Savings Account   200
Home Loan   150,000
Mortgage Offset   2,000
Christmas Club   300
Total Relationship   150,500


Transactions    Number     Account   Cost   Total
Cash Withdrawal   5   Savings   $2.50   $12,50
OSKO via online   20   Savings   Free   Free
Bpay via internet   10   Mortgage Offset    Free   Free
EFTPOS   40   Mortgage Offset    Free   Free
Monthly Access Fee       Mortgage Offset     $5.00   $5.00
ATM   4   Mortgage Offset    Free   Free
Total Fees               $17.50
Total Fees (Reward)               $12.50
Reward Allocation                ($35.00)
Cost to Member               $5.00

The Member Reward that the member is entitled to is $35.00, the fees that are included in the rewards program is $12.50, so the total fees payable are the Monthly Access fee of $5.00.

Early Term Deposit Redemption

% of time since lodgement  Rate Applied
< 10% of term 10% of current interest rate
10% - 30% of term 25% of current interest rate
31% - 50% of term 40% of current interest rate
51% - 75% of term 60% of current interest rate
Over 76% of term 80% of current interest rate
Within 5 days of maturity Current interest rate

This penalty applies to the interest rate earned on a term deposit, or portion thereof, that is redeemed before the maturity date.

if $5,000 was lodged on the 1st June @ 6.00% for six months and $2,000 was redeemed early on the 1st July, the $2,000 would earn interest @ 1.50% for the 30 days.

Non-Standard Fees and Charges

Type Application Fee
Corporate Cheque Fee Payable when you ask to raise a bank cheque $15.00
Stop payment corporate cheque When you ask us to stop a bank cheque and the cheque is then presented $50.00
Special cheque clearance Special request for priority clearance on a cheque deposited to your account $20.00
Cheque Book Order When you order a cheque book on your account

25 pages - $3.00
50 pages - $5.00
100 pages - $8.00

200 pages - $12.00

Stop payment on member cheque When you stop a cheque and the cheque is then presented $50.00
Dishonour fee – personal or business cheque Insufficient funds in your account, cheque returned to drawer $50.00
International Transactions    
International ATM withdrawal When you withdraw cash at an ATM overseas $5.00
Currency conversion fee (Visa Debit) Charged on any foreign currency transaction converted into Australian dollars, payable at the time the currency conversion is made 2.75%
Direct entry    
Direct debit posted via Member Chequing When a direct debit comes through on the cheque book details $5.00
Dishonour fee When there is insufficient funds to process a direct debit and the payment is returned $10.00
Replacement card When you request a replacement Visa Debit Card $15.00
Replacement card (overseas) When you request a replacement Visa Debit Card when overseas $250USD
Card Dispute (CMCU owned ATM) When you lodge a ATM dispute on a ATM owned by CMCU $10.00
Card Dispute When you lodge an ATM dispute on other non-CMCU ATM $25.00
Visa transaction dispute When you lodge a dispute for a Visa or Eftpos transaction $35.00
Duplicate deposit book Business account duplicate deposit book $5.00
Overdrawn account When you have overdrawn funds and your account is in debit $20.00
Overdrawn account transfer When your account is in debit and CMCU transfers funds to fix the account (min transfer $10.00)


Dishonoured cheque inward When a cheque you deposit is dishonoured $20.00
Inter-Credit Union withdrawal When we process a withdrawal from another Credit Union $10.00
Dormant accounts When your account has not been transacted upon and CMCU have transferred it to dormancy $30.00 per quarter
Statement request A request to provide a copy of your statement $5.00 per statement
Business searches When CMCU is required to do a search on a business for account opening or lending purposes $20.00
Archive search feed Retrieval of archived account information $35.00
Returned mail When CMCU have to resend mail that has been sent to CMCU as returned mail $5.00
Audit confirmation When you ask us to complete a Bank Audit Certificate $50.00
Recall of electronic transfers When you ask us to recall funds sent via EFT, BPAY or OSKO $20.00
Member payment referral When CMCU contact you to pay in to allow a cheque or direct debit to be honoured $20.00
Bulk coin When you ask for bulk coin (amounts over $1,000) $0.30 per $100
$8.00 per bulk bag
Coin counting When you bring in coin not bagged 10% of value
Non-member coin/note exchange When non members bring in notes/coins to be exchanged $5.00
Photocopying When you ask CMCU to do photocopying (>50 sheets) $0.20 per sheet
Telegraphic transfer SWIFT – outward transfer $20.00

Central Murray Credit Union Head Office
58 Belmore Street, Yarrawonga Vic 3730
tel: 03 5744 3713 | fax: 03 5744 1926 | email:
BSB 803-188 | ABN 69 087 651 812 | AFSL/Australian Credit Licence 249446

Internet Banking

Visa Hot-line
1800 648 027
24 hour service for lost or stolen cards

Internal Dispute Resolution
Complaints Officer
58 Belmore Street, Yarrawonga Vic 3730

External Dispute Resolution
Australian Financial Complaints Authority
GPO Box 3 Melbourne Vic 3001
tel: 1800 931 678 | email: | web: