About Hunter United
Hunter United commenced life in 1963 as the BHP (Newcastle) Employees’ Credit Union and has progressively grown into a community based financial institution serving the Hunter Valley.
Hunter United has 9 branches across the region and offers banking, insurance and superannuation services.
We specialise in providing value for money banking services to our members... including savings, loans, cards and investment services.
Unlike the banks, Hunter United is not driven by big profits for shareholders - it is our job to deliver great service and benefits to our members. That’s how we can offer very competitive rates for loans and investments and keep fees to a minimum.
Hunter United is a responsible and conservative lender. More than 80% of our assets are in the form of loans to members with the vast majority (92.4%) of these loans being secured by registered 1st mortgage over residential properties. 87.5% of our loans have a loan to valuation ratio of <80%. Loans with higher loan to valuation ratio’s are typically mortgage insured (ie the risk of these loans not being repaid is insured by a third party).
Our liquid investments are all held in cash type investments with Australian banks rated “A+” or better. These investments, by their nature, are short term and can be converted into cash within 48hours. We do not invest in speculative or high-risk investments.
Hunter United operates in accordance with the Banking Act (1959), is an authorised deposit-taking institution (ADI) and is supervised by the Australian Prudential Regulatory Authority (APRA). We meet and exceed the Australian prudential standards set for banks, building societies and credit unions. For example, our capital reserve (known as the Capital Adequacy Ratio) is 2.7 times the minimum standard set by APRA.
All member deposits at Hunter United are guaranteed by the Australian Federal Government.
A Brief History
| 1963 | Formed by the employees of BHP Newcastle to provide an attractive savings scheme plus personal loans at low cost. |
| 1978 | Amalgamation with AWI & Comsteel Credit Unions. |
| 1982 | Membership bond broadened to take in other employee groups and later the broad community. |
| 1990 | Green Hills branch opens for business |
| 1996 | Broadmeadow drive-thru ATM and drive-up banking centre opens |
| 2000 | The first of our new look branches opens |
| 2004 | Newcastle Civic Credit Union merges with Hunter United |
| 2006 | New Branch opens at Glendale |
| 2008 | New Branch opens at Thornton Shopping Centre |
More Information
Government Deposit Guarantee Information Fact Sheet
Growing from strength to strength
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Questions
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