BSB 802-396

effective from 1 December 2018.

into Illawarra Credit Union

Catalyst Money will be consolidated

We’re undergoing a consolidation.

The consolidation of Catalyst Money into Illawarra Credit Union comes as the Credit Union strives to reduce operational complexity, while creating a superior experience for our members. The consolidation will create a unified brand, reduce costs and complexity. It will also allow for the Credit Union to reinvest resources into providing you with better products and services to suit your needs.

Here's just some of the benefits of joining Illawarra Credit Union.

Improved internet banking features & functionality.

Soon, we're launching a new responsive design internet banking platform, including online personal loan applications.

New payment solutions.
Products & services to manage your business seamlessly.

We've launched MYOB and Xero bank feeds, plus Smartpay eftpos devices. You'll also have access to a suite of business banking products.

New home loan products.

Take advantage of our new range of products, including our Bare Essentials home loan, which is just that, the bare essentials.

Access to our Education Hub.

Utilise our education hub to source educational material for every stage of your life.

Interactive statement solution.

Manage your statements online via our new interactive statement solution, which will launch for Illawarra Credit Union members in early 2019.

We understand you may have some questions.

We’re working hard to make the transition smooth and easy, and will be communicating with you over the coming months to let you know what these steps are. In the meantime, please see the FAQ’s below.

The decision to consolidate Catalyst Money was not one made in a hurry; it took careful planning and consideration.

Maintaining the current structure increases our cost of operations, and unfairly uses members funds which can be better spent servicing the needs of you, our members. Currently, the multi-branding strategy costs our members approximately $300,000 each year, which we believe can be better invested back into the Credit Union.

Creating a unified brand will allow us to invest our resources into one brand, and reinvest into delivering improvements across our products and service channels. It will also allow us to simplify processes to benefit you, our members.

We are committed to our members and ensuring the success of our Credit Union, and we believe consolidating the brands will only strengthen your Credit Union.

We’ll be consolidating the brand on Saturday 1 December 2018.
We will not be making any changes to your existing fee structure as a result of the consolidation. Due to market forces, this may change in the future. Should we look to alter your fees in the future, we will notify you well in advance of the changes.
We need you to update your contact information. Our staff are working on everything else to ensure the transition is seamless. We may need to get in touch with you over the next weeks, so it’s important that we have your correct contact information on file.

You can update your contact details via internet banking, email (enquiries@cu.com.au), or by giving us a call on 1300 864 266.

The consolidation of Catalyst Money into Illawarra Credit Union will improve the way you bank with us! Everything you’re used to receiving from us will look the same, but where you’re used to seeing the Catalyst Money logo, you’ll see the Illawarra Credit Union logo instead.

You’ll also have access to the new responsive Illawarra Credit Union internet banking portal.
As an Illawarra Credit Union member, you’ll continue to have access to our great mobile banking app, moneytree, which lets you do your banking anywhere, anytime.

In addition, you’ll continue to have access to Osko and PayID for real-time payments, and our Pays solutions (Google Pay, Apple Pay and Samsung Pay). Plus you’ll now have access to Garmin and FitBit Pay.

Yes, all of your scheduled payments will continue to process as normal.
You won’t need to do a thing! You’ll be automatically switched to Illawarra Credit Union and have access to the Illawarra Credit Union internet banking platform, moneytree and all other service channels.
Yes, your member number and account details will remain unchanged.
It’s not required as yet. Any payments that are coming into your account and reference the Catalyst Money BSB will process as normal. The Catalyst Money BSB number will remain valid for a period after you transition over to Illawarra Credit Union. However, following the consolidation we do recommend that you begin to use the Illawarra Credit Union BSB number when providing your details.
Yes, your existing Visa Debit and cheque book will remain active and valid until your card expires or your cheque book runs out. At that point, you will receive an updated card or
cheque book branded ‘Illawarra Credit Union’.
Yes, you can continue to use your existing login details to access the new Illawarra Credit Union internet banking portal. If you have any question while you’re logging in, just give us a call. Our team will be available to answer any enquiries and assist you through the process.
You’ll need to download the Illawarra Credit Union version of moneytree. The features and functionality you’ve come to love will be exactly the same in your Illawarra Credit Union app. You can download our Illawarra Credit Union moneytree app from the App Store or Google Play from 1 December 2018.

If you’d like to get in touch with us, please call 1300 864 266
or email us at enquiries@cu.com.au.