Home -
GMCU -

Score

3.39 /10
Danger

GMCU

Australia

5-10 years

Regulated in Australia

Investment Advisory License

Suspicious Scope of Business

Suspicious Overrun

Medium potential risk

http://www.gmcu.com.au

Influence

C

Add brokers

Comparison

Expose

Exposure

Time Machine
Website

Score

Regulatory Index3.05

Business Index7.41

Risk Management Index0.00

Software Index4.00

License Index3.05

Time Machine
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 2
Previous Detection : 2025-06-14
  • This broker exceeds the business scope regulated by Australia ASIC(license number: 241364)Investment Advisory Licence Non-Forex License. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

GMCU · Company summary
GMCU Review Summary
Founded1985
Registered Country/RegionAustralia
RegulationASIC (Exceeded)
ServicesLoans, banking accounts, term deposits, insurance
Demo Account❌
Trading PlatformMobile Banking App
Customer SupportPhone: 1800 694 628
Email: info@gmcu.com.au
Mail Address: PO Box 860, Shepparton, VIC 3632

GMCU Information

GMCU (Goulburn Murray Credit Union Co-Operative Ltd) was founded in 1985 and is regulated under ASIC with license No. 241364, though the status is listed as “Exceeded.” The institution provides standard financial services such as home loans, personal banking accounts, and insurance products, but does not offer other trading services or demo accounts.

GMCU Information

Pros and Cons

ProsCons
Various contact channelsExceeded ASIC license
Wide range of traditional banking services
Multiple account choices
Long operation time

Is GMCU Legit?

Yes, Goulburn Murray Credit Union Co-Operative Ltd (GMCU) is regulated. It holds an Investment Advisory License issued by the Australia Securities & Investments Commission (ASIC) under license number 241364. However, its regulatory status is marked as Exceeded, which may indicate the license is no longer valid or has surpassed its intended scope.

GMCU License

GMCU Services

GMCU offers a broad range of retail banking services including home and personal loans, various account types, term deposits, and insurance options.

CategoryServices
Home LoansStandard Variable Plus, Fixed Rate, Construction Fixed Rate
Personal LoansSecured Personal Loan, Unsecured Personal Loan
Transaction AccountsMy Everyday Account, My Freedom Account, My Connect Account
Savings AccountsAdvantage Saver, Online Saver, Cash Manager Account
Term DepositsFixed Term Deposits, Monthly Income Deposits
InsuranceHome, Motor, Caravan & Trailer, Landlord Insurance
Products and Services

Account Type

GMCU offers several types of real (live) accounts tailored to everyday banking needs, including personal transaction and savings accounts.

Account TypeSuitable for
My Everyday AccountIndividuals needing a general transaction account
My Freedom AccountStudents or concession card holders seeking fee waivers
My Connect AccountPeople who prefer digital banking with no branch access
Advantage Saver AccountRegular savers wanting bonus interest
Online Saver AccountOnline-focused savers
Cash Manager AccountMembers managing larger cash flows

GMCU Fees

GMCU's fees are moderate to high compared to industry standards, particularly for unsecured lending products like personal loans and overdrafts.

Loan TypeInterest Rate (p.a.)
Home Loan (Owner Occupied, <80% LVR)5.94% - 5.79%
Home Loan (Owner Occupied, >80%-95% LVR)6.34% - 5.79%
Home Loan (Investment, <80% LVR)6.14% - 6.09%
Home Loan (Investment, >80%-95% LVR)6.54% - 6.09%
Personal Loan (Secured)7.79%
Personal Loan (Unsecured)14.95%
Overdraft (Secured)9.99% - 10.60%
Overdraft (Unsecured)17.69%
Business/Farm Loan (Secured)10.54% - 12.00%
Business/Farm Loan (Unsecured)18.75%
GMCU Fees

Trading Platform

Trading PlatformSupportedAvailable Devices
Mobile Banking App✔iOS, Android
Trading Platform

Deposit and Withdrawal

GMCU does not explicitly mention charging fees for deposits or withdrawals.

Payment MethodFeesProcessing Time
Direct Entry Credit/Typically same-day
Direct Entry DebitDishonour fees may apply if insufficient fundsBased on supplier schedule
Periodical Payments/As scheduled
Internet/Mobile Banking/Instant or same-day
In-branch Deposit/Instant or by end of day
Deposit and Withdrawal

User Reviews

More

User comment

2

Comments

Write a review

A+
more than one year
I gotta be honest, my impression of GMCU isn't great. The customer service reps come off as arrogant and it takes forever for them to get back to you with an answer. It's a big turn-off for me and I don't really want to use their services if that's how they treat their clients. I think it's important to have good customer service, especially when it comes to something as important as trading.
I gotta be honest, my impression of GMCU isn't great. The customer service reps come off as arrogant and it takes forever for them to get back to you with an answer. It's a big turn-off for me and I don't really want to use their services if that's how they treat their clients. I think it's important to have good customer service, especially when it comes to something as important as trading.
Translate to English
2023-03-29 09:13
Reply
0
0
知秋92199
more than one year
When I try to get some information in GMCU I find that they tend to make the user look for the answer in the file...to be honest I don't like that. You can call me lazy. I think both documentation and consolidated concise information should be provided.
When I try to get some information in GMCU I find that they tend to make the user look for the answer in the file...to be honest I don't like that. You can call me lazy. I think both documentation and consolidated concise information should be provided.
Translate to English
2023-03-09 17:10
Reply
0
0