Just six months ago, Money magazine also announced Horizon to be its Personal Lender of the Year. The modest credit union, is now a force to be reckoned with, beating the major banks at their own game.
“The awards are for our Budget Personal Loan. The rate is on average, 3.3%p.a. less than the major banks. To me the awards reinforce the fact that Horizon is a smart alternative to traditional banking” said Horizon Thirroul Branch Manager Mitchell Cooper.
“Credit unions are customer owned, so we’re not looking to make big profits to pay shareholder dividends. The profit we make is given back in the form of competitive rates, fair fees and for future growth. Anyone can join and benefit from being a Horizon member”, said Mr Cooper.
The highly regarded Best of the Best awards are now in their twelfth year. Products are judged from a wide range of financial institutions across Australia including the major banks to come up with the winners list.
Money magazine cited Horizon’s Budget Personal Loan winning qualities to include: a low rate, no monthly loan account fees, extra repayments can be made without penalty and free redraws.
A loan affordability calculator on Horizon Credit Union’s website gives a potential borrower an idea on whether they’re likely to be approved prior to completing a formal loan application.
Horizon also placed in the Cheapest Balance Transfer Credit Card non- bank category as well as Best Term Deposits – Long Term.
Mr Cooper went on to say, “We are delighted to be recognised by one of Australia’s major consumer financial magazines for having one of the best personal loans, long-term term deposit and cheapest balance transfer credit card”.
“We operate in an extremely competitive market and it is a testament to both Horizon’s commitment to deliver a comprehensive suite of products as well as the exceptional skills and experience of our staff.”
“It really does pay for people to look beyond the major banks to find the best value products. It’s even better when you find them locally.”