Credit union slices variable rate to 4.94%

by AB12 Aug 2013

Gateway Credit Union has announced it’s reducing its entire range of variable rate home loans and consumer loans by 0.25%pa, effect from August 15.

The lender’s Premium Package variable rate will also reduce to 4.94%p.a. for new business, offering a ‘competitive alternative’ to the big banks, according to Gateway chief operating officer, Gary English.

“As a customer-owned lender, we also felt that passing on these savings to borrowers as quickly as possible was just the right thing to do.”