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This year marks a major milestone in the history of Family First Credit Union - In 2017 we celebrate 50 years in business

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At 7.30pm on 17 July 1967, in a canteen at the Small Arms Factory in Lithgow, a number of employees were meeting with the intention of forming a credit union for the benefits of the workers of the Small Arms Factory. From this meeting, some 50 years ago, the Small Arms Factory Employees (SAFE) Credit Union was born.


From these humble beginnings, 50 years on, we now have an operation that:


(a) has $125 million in assets

(b) has 4 branches in Lithgow, Mudgee, Blackheath and Bathurst

(c) employs over 20 people within these 4 communities

(d) looks after the financial needs of almost 10,000 members

(e) gives away approximately $30,000 in community support grants and social dividends annually


In addition to this we also celebrate 20 years as Family First Credit Union after name changes from Small Arms Factory Employees (SAFE) Credit Union (1967 to 1975) and Lithgow Mutual Credit Union (1975 to 1997).


It is right that we celebrate the achievements of Family First Credit Union established over the 50 years of its operations however also take the opportunity to thank all those that have contributed to its successes, namely staff who have worked hard over the years in delivering professional and friendly service over the years, directors who have served on the board setting great strategic direction for the organisation, and lastly but not least, the members who have supported the credit union by their loyalty and by trusting Family First Credit Union to provide them with their financial needs.


Well done to all .... and happy birthday Family First Credit Union !!!




Important Compliance Information Notice to Members

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Please find following some important compliance information for members concerning rate and fee changes to take effect from 1 July 2017:


Savings Accounts

 Effective 1 July 2017

 S5 Over 55s Account

                                                                 From                     To


Rate Thru            $48,600                 1.00%                    0.50%   

Rate Above        $48,600                 2.25%                    1.75%


Loan Accounts

The following changes apply to Investment Loans only

 New investment loans effective 1 July 2017

                                                                 From                     To


Standard Variable                            4.99%                    5.25%

12 Month Discount Only               3.99%                    4.75%

 24 Month Discounted Product to be withdrawn for investment loans

                                                                 From                     To


1 Year Fixed Rate                             4.29%                    4.55%

2 Year Fixed Rate                             4.39%                    4.65%

3 Year Fixed Rate                             4.49%                    4.75%


All existing Investment Loans will attract the revised pricing in line with the above and their individual loan contracts from 1 August 2017.

 For the immediate future, investment loans will not be available to new members.

 Offset facilities will not be available on investment purpose loans for new loans.


Bridging Loans / Construction Loans


No discounts are to apply to either interest only construction loans and interest only bridging finance throughout either the period of construction or the period the sale of the property occurs (12 months maximum). Upon finalisation of the interest only period, members may be able to negotiate rates accordingly for the remainder of their loan term.



Blackheath Branch - Temporary Change to Operating Hours

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Effective Tuesday 8th August 2017 we will temporarily be changing the operating hours of our Blackheath Branch as we recruit and train new staff. Please see the information below.

We apologise for any inconvenience this may cause. It is very important to us that we properly train the staff that will be serving you, and appreciate your understanding and continued support during this transitional period.


Hours of Operation

  • Monday: 10.00am - 3.00pm
  • Tuesday: 10.00am - 3.00pm
  • Wednesday: 10.00am - 3.00pm
  • Thursday: 9.00am - 5.00pm (closed for lunch 1.00pm - 1.40pm)
  • Friday: 10.00am - 3.00pm


Alternative Contacts


As widely expected, the RBA leaves cash rates on hold at their September 2017 Board meeting marking 1 year since rates last fell

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Cash Rate remains on hold for September 2017


As widely expected, the Reserve Bank of Australia has again kept the official cash rate on hold at 1.5 per cent. This marks the twelfth month in a row that the RBA has left the cash rate unchanged, with the last movement a 25 basis point rate cut in August 2016.

Today’s decision was correctly predicted by researchers and economists alike who widely predicted that the rate would remain on hold in August 2016 and further note that any rate movements in the immediate future are deemed as unlikely.

RBA Governor Philip Lowe has remained optimistic in his monetary policy statement that accompanied today’s decision, saying that “the low level of interest rates continues to support the economy”.

In an increasingly familiar commentary, the bank provided a largely optimistic outlook on current economic conditions “with recent data consistent with the RBA’s expectation that growth in the Australian economy will gradually pick up over the coming year”.

Dr Lowe once again acknowledged the strong Australian Dollar that is keeping inflation below the targeted range of 2-3 per cent and “weighing on the outlook for output and employment”.

It was also noted that retail sales have recently picked up, “although slow growth in real wages and high levels of household debt are likely to constrain future growth in spending."

In contrast to last month’s statement, Dr Lowe is now indicating that the construction boom looks to have peaked, saying “residential construction activity remains at a high level, but little further growth is expected”.

Another key point in the Governor’s statement is the indication that housing prices are starting to ease, particularly in Sydney. “Housing prices have been rising briskly in some markets, although there are signs that conditions are easing, especially in Sydney. In some other markets, prices are declining”.

Further clarification of the RBA’s outlook is expected with tomorrow’s GDP data, which is widely expected to show the economy is growing marginally slower than forecasted.

If you have any questions about how this may affect you, please get in touch today.