Account Fees
Effective: 1 April 2023. For NZFCU members effective date 1 November 2023.
Transaction Accounts – Fees
As of 1 November 2023, NZFCU members will be charged monthly and transaction fees as per the below fee structure.
When Credit Union Auckland (CUA) assumed the responsibility of taking over NZ Firefighters Credit Union (NZFCU) in 2022, an agreement was established to maintain the existing fee-free structure for one year. This grace period was intended to allow members a transition period and to evaluate the financial health of NZFCU.
At the time of the takeover, NZFCU was operating at a loss, and unfortunately, this trend has persisted over the past year. Despite CUA's best efforts to streamline operations and identify cost-saving measures, the credit union has struggled to achieve financial sustainability.
CUA recognizes the historical commitment of NZFCU to providing fee-free services to its members. However, the financial reality necessitates a reevaluation of this approach. The decision to introduce fees is not taken lightly, but it is crucial to ensure the long-term viability of NZFCU and to continue providing a secure and reliable financial institution for our members.
We thank our members for their continued loyalty to CUA.
Transaction Accounts - Fees
| Everyday Account | Bill Pay Account | |
|---|---|---|
| Account handling fee (monthly) | $5 | FREE |
Savings Accounts – Fees
| Goal Saver | Loyalty Saver | Christmas Saver | Success Saver | Kids Cash Saver | |
|---|---|---|---|---|---|
| Account handling fee (monthly)
| FREE | FREE | FREE | FREE | FREE |
| Special Conditions | Only Funds NOT securing a Loan can be withdrawn | Funds available 1 December to 31 January | |||
| Withdrawal with 14 days’ notice | FREE | ||||
| Withdrawal with less than 14 days’ notice (per Withdrawal) | $20 | ||||
| Break Fee (per Withdrawal) | $20 (1 February to 30 November) | ||||
| Withdrawals & Transfers out | FREE | FREE (1 December to 31 January) | $3 | FREE |
Personal Loan
| Personal Loan | |
|---|---|
| Loan Processing Fee | $350 for Personal Loan (new or Top-up) |
| Loan Variation Fee | $50 |
Home Loan
| Home Loan | |
|---|---|
| New Mortgage – Processing Fee | $400 |
| Top-up Mortgage – Processing Fee | $200 |
| Preparation of Caveat | $50 |
| Withdrawal or Discharge of Caveat | $50 |
| Discharge of Mortgage | $50 |
Transaction Fees
| Cash Withdrawal (In-Branch) | 1.50 |
| Cheque Withdrawal (In-Branch) | 60c |
| Electronic Payment from an account (not ATM or EFTPOS) | 50c |
| Transfer to another NZCU Account (In-Branch) | 60c |
| Transfer to another NZCU Account (by AP, Internet, or Phone Banking) | FREE |
| Deposit or transfer into account (In-Branch or electronic) | FREE |
| Deposit at Westpac Branch into Customer’s NZCU account | FREE |
| Split of incoming payment to one or more NZCU accounts | FREE |
Service Fees
Internet, and In-Branch – Account Access Fees
| Internet & Mobile banking | In branch | ||
|---|---|---|---|
| Transfer to another NZCU Auckland account | $0.60 | ||
| Load or re-load an Automatic Payment authority | FREE | $5.00 | |
| Amend a loaded Automatic Payment authority | FREE | $2.00 | |
| Load or re-load a Direct Debit authority | $5.00 | ||
| Amend a loaded Direct Debit authority | $2.00 | ||
| Transaction search by NZCU staff | $35 per hour, with $15 minimum charge (No charge if Credit Union is at fault) | ||
ATM/EFTPOS Transaction Card Fees
(NOTE: Debit card can be used only in New Zealand; Debit Card can be used in New Zealand or overseas)
| Debit Master Card | ||
|---|---|---|
| *Bank ATM Cash Withdrawal | $1.50 | |
| *Bank ATM Enquiry or Decline | $1.40 | |
| *EFTPOS payment | 50c | |
| *EFTPOS Enquiry or Decline | 40c | |
| PayPass Transactions Tap Go | 50c | |
| Overseas ATM or EFTPOS Fees marked # are charged in addition to those marked * above | ||
| #Overseas ATM Cash Withdrawal | N/A | $5 |
| #Overseas ATM Enquiry or Decline | N/A | 60c |
| #Overseas EFTPOS Purchase or Decline | N/A | 50c |
| #Multi Currency Conversion Fee (Applied as a loading to the prevailing buy rate by MasterCard International on Foreign Transactions) | N/A | 2.25% |
| First card issued/renewed card | $10 | $10 |
| Replacement card | $10 | $10 |
| Debit Card Semiannual Admin Fee | $6 |
Dormant Accounts
| Account Handling Fee (per month) | $5 |
Penalty Fees
| Dishonoured Payments | |
|---|---|
| Inwards (dishonoured by remitting Bank) | $10 |
| Outwards (dishonoured by NZCU Auckland) | $15 |
| Rejected external automatic payment | $5 |
| OVERDRAWN ACCOUNTS | |
| Interest charged on overdrawn balance | 25% p.a |
| Unauthorised Overdraft Service Fee (per month) | $5 |
| Debt Recovery | |
| Delinquent Account letter | $20 |
| Pre-Possession Notice Administration | $50 |
| Repossession Fee | $50 |
| Post-Possession Notice Administration | $50 |
| Notice of Proceedings Administration | $90 |
Statements
| Emailed Statement | FREE |
| Interim Statement | $2 |
| Replacement Statement | $2 per page |
Additional Notes
Where the Credit Union incurs a charge from another organisation or Government Department when acting on a Customer’s behalf, including credit checks, legal costs and disbursements, and costs associated with the registration of securities, the Credit Union will pass these costs on to the Customer.