Goal Saver account.
We're serious about saving and you should be too!
Rates & fees.
Goal Saver
| Balance | Variable Interest Rate |
| Standard Interest Balances up to and including $3 million |
0.05% p.a.* |
| Total Interest including Bonus Balances up to and including $3 million |
3.85% p.a.* |
| Balances over $3 million | No interest |
Interest & Fees
Interest is calculated daily on balances up to and including $3 million and credited at month end.
Refer to our Fees and Charges and Summary of Accounts, Access Facilities and Transaction Limits for more information.
Bonus interest will be paid if you:
- Deposit at least $50 during the month
- Maintain a credit balance at all times, and
- Make no withdrawals in the calendar month.
Don’t wait, open an account online .
Like the name suggests, our Goal Saver is packed with rewards designed to help you save your money. You'll need a transaction account to do any of your regular banking such as paying your bills.
Already bank with us?
It’s simple, apply through Internet Banking with your existing details. Can’t remember? No problem, just call us and we’ll help get you started.
New to Illawarra Credit Union?
Have your Documents to prove your identity (POI) handy.
Get started
Hit Apply now to complete the application form, we’ll complete your ID check & get you started with your new account.
What makes it so great ?
Always on.
24/7 access with e-statements, internet banking & our mobile app – banking from your phone or tablet.
Bonus interest¹ for saving.
Earn bonus interest when you deposit a minimum of $50 each month, maintain a credit balance at all times and make no withdrawals in the month.
$0 account keeping fees.
No monthly account keeping fees.
Government Guarantee.
The Australian Government guarantees aggregated deposits with Australian authorised deposit-taking institutions, including Illawarra Credit Union (a division of Community First Credit Union Limited), of up to $A250,000.
The Financial Claims Scheme (FCS) is an Australian Government scheme that was established during the 2008 global financial crisis to provide financial protection for consumers in the unlikely event of a failure of a bank, credit union, building society or general insurer.
The FCS provides protection for depositors of banks, credit unions and building societies that are incorporated in Australia (also known as authorised deposit-taking institutions or ADIs), for deposits up to $250,000 per account holder per ADI. The FCS limit of $250,000 applies to the sum of an account holder’s deposits under the one banking licence. This includes accounts with any other banking business that the licenced banking institution may operate under a different trading name. Community First Credit Union Limited operates the brands Illawarra Credit Union, Community First Bank and Easy Street Financial Services. For the purpose of FCS, all deposits held under the different brands are added together to determine the FCS entitlement for an account holder. The scheme aims to return deposits to account holders within seven days of activation of the FCS.
The FCS can be activated by the Australian Government in the unlikely event that an ADI or general insurer fails.
Once activated, the FCS will be administered by APRA.
The objectives of the FCS are to:
- protect depositors of ADIs, and claimants of general insurers, from potential loss in the unlikely event of the failure of these institutions;
- provide depositors with prompt access to their deposits that are protected under the FCS; and
- support the stability of the Australian financial system.
Further information about the Government Guarantee can be obtained from the APRA website at www.fcs.gov.au.
We're here for you .
Our opening hours
Our contact centre is open Monday-Friday 8am-8pm (AEDT) and 8am-3pm (AEDT) Saturdays.
Are you a First Home Buyer?
With as little as 5% deposit, eligible first home buyers have the opportunity to purchase a property through the First Home Guarantee (FHBG).
Find out moreSavings Accounts with the Illawarra Credit Union
Bonus style savings accounts, like the Goal Saver account offered by Illawarra Credit Union, are designed for individuals who are committed to growing their savings. By understanding the features to look for, savers can choose an account that best suits their financial goals and saving habits.
Advantages:
- Higher Interest Rates: Bonus savings accounts often offer higher interest rates compared to regular savings accounts, especially when you meet specific conditions like regular deposits.
- Encourages Saving: The structure of these accounts, with rewards for consistent saving, naturally encourages savers to build their funds over time.
- Goal-Oriented Saving: They are perfect for savers with specific goals in mind, as the bonus interest can act as a motivator to reach your saving targets faster.
FAQs
Bonus interest on your savings account is calculated daily on balances up to and including $3 million and is credited at the end of each month. Balances over $3 million will not earn interest. This method ensures that every day your savings are in the account, they’re working hard to earn you more.
To qualify for bonus interest on a Goal Saver account, you must deposit at least $50 during the month, maintain a credit balance at all times and make no withdrawals within the calendar month.
Eligible deposits for earning bonus interest include any deposits of money into your account that meets the minimum deposit requirements (at least $50 during the calendar month) for our Goal Saver account.
To continue receiving bonus interest, ensure you deposit at least $50 each month, always maintain a credit balance and avoid making any withdrawals. This keeps your account eligible for the bonus interest rate.
The Australian Government guarantees aggregated deposits for eligible accounts with Australian authorised deposit-taking institutions, including Illawarra Credit Union, of up to $A250,000.
See the FCS website for more information at www.fcs.gov.au/.
No, you do not receive a debit card with a Goal Saver account as it is designed specifically for savings.
No, failing to meet the conditions for one month only affects that month’s bonus interest. You can qualify again in subsequent months by meeting the minimum monthly deposit of $50, maintaining a credit balance and no withdrawal requirements.
Important notes
*Rates are current as at 01/03/2026 and subject to change without notice. Standard interest of 0.05% p.a. applies when bonus conditions are not met. Bonus is paid when you make a least one deposit of $50 by 6pm on the last day of the month AEST/AEDT, if the account remains in credit at all times (i.e. the account must not be overdrawn at any time during the month, including during a day, or when the balance is carried forward from the previous month) and you make no withdrawals or transfers in the month. Standard interest and bonus interest will not be payable on balances over $3 million. Balances over $3 million will earn nil interest. If closing your account, interest for the month will be calculated as at the end of the previous day.
Illawarra Credit Union, a division of Community First Credit Union Limited ABN 80 087 649 938 AFSL and Australian credit licence 231204, is the product issuer of the deposit and payment products. Any advice given is of a general nature only and does not take into consideration your objectives, financial situation or needs. Please consider the appropriateness of the advice before acting. Refer to the Account and Access Facility Conditions of Use and the Fees and Charges for more details. Fees and charges are payable. Terms and conditions apply and are available on request. BPAY® registered to BPAY Pty Ltd ABN 69 079 137 518.
