Changes to our Christmas Cracker Account

On 1 April 2024, there will be some changes to our Christmas Cracker Account.

Changes effective 1 April 2024

On 1 April 2024, the following changes will take place on our Christmas Cracker Account:

- The name will change slightly from Christmas Cracker Account to Christmas Saver Account;

- Interest will be calculated on the daily balance instead of the minimum monthly balance - a positive change for account holders (interest will still be paid on the last day of October each year);

- The maximum number of accounts allowed per member will be one (if you already have more than one Christmas Saver account, you won't be affected by this change); and

- As the account is designed for people wanting to put away funds to spend during the Christmas Period, we're lowering the maximum amount interest will be payable on to $100,000. Any balance over $100,000 will not earn interest. 

This change helps ensure that we continue to distribute the account to people who are using the account for the purpose it was designed for. If you have more than $100,000 that you're looking to save or invest, consider our other savings options. 

You can view the current Target Market Determination for the Christmas Saver Account here

Please note that interest rates are variable and subject to change.

Community First Credit Union LimitedABN 80 087 649 938 | Operating as Community First Bank | AFSL and Australian credit licence 231204| BSB 512-170