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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 October 2017 Board meeting

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At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent.

Conditions in the global economy have improved. Labour markets have tightened and above-trend growth is expected in a number of advanced economies, although uncertainties remain. Growth in the Chinese economy is being supported by increased spending on infrastructure and property construction, with the high level of debt continuing to present a medium-term risk. Australia's terms of trade are expected to decline in the period ahead but remain at relatively high levels.

Wage growth remains low in most countries, as does core inflation. Headline inflation rates are generally lower than at the start of the year, largely reflecting the earlier decline in oil prices. In the United States, the Federal Reserve has indicated that it will begin the process of balance sheet normalisation in October and that it expects to increase interest rates further. In the other major economies, there is no longer an expectation of additional monetary easing. Financial markets have been functioning effectively and volatility remains low.

The Australian economy expanded by 0.8 per cent in the June quarter. This outcome and other recent data are consistent with the Bank's expectation that growth in the Australian economy will gradually pick up over the coming year.

Over recent months there have been more consistent signs that non-mining business investment is picking up. A consolidation of this trend would be a welcome development. Business conditions as reported in surveys are at a high level and capacity utilisation has risen. A large pipeline of infrastructure investment is also supporting the outlook. Against this, slow growth in real wages and high levels of household debt are likely to constrain growth in household spending.

Employment has continued to grow strongly over recent months. Employment has increased in all states and has been accompanied by a rise in labour force participation. The various forward-looking indicators point to solid growth in employment over the period ahead, although the unemployment rate is expected to decline only gradually over the next couple of years.

Wage growth remains low. This is likely to continue for a while yet, although the stronger conditions in the labour market should see some lift in wage growth over time. Inflation also remains low and is expected to pick up gradually as the economy strengthens.

The Australian dollar has appreciated since mid year, partly reflecting a lower US dollar. The higher exchange rate is expected to contribute to continued subdued price pressures in the economy. It is also weighing on the outlook for output and employment. An appreciating exchange rate would be expected to result in a slower pick-up in economic activity and inflation than currently forecast.

Growth in housing debt has been outpacing the slow growth in household incomes for some time. To address the medium-term risks associated with high and rising household indebtedness, APRA has introduced a number of supervisory measures. Following some tightening in credit conditions, growth in borrowing by investors has slowed a little recently. In the housing market, conditions continue to vary considerably around the country. Housing prices have been rising briskly in some markets, while in others they have been declining. In Sydney, where prices have increased significantly, there have been further signs that conditions are easing. In the eastern capital cities, a considerable additional supply of apartments is scheduled to come on stream over the next couple of years. Rent increases remain low in most cities.

The low level of interest rates is continuing to support the Australian economy. Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.