Horizon Takes The Credit

Illawarra Mercury

Friday January 16, 2009

By GREG ELLIS

HORIZON Credit Union is gearing up for another successful year despite the economic climate after winning two industry awards over summer.

Horizon took out a gold award in the Money Magazine Best of the Best Awards for the best online savings account in the non-bank category.

General manager Jon Stanfield said it was a real honour to be recognised by one of Australia's major consumer financial magazines for having one of the best savings accounts in Australia, especially an online one.

"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," he said.

"Using a rigorous filtering process, Money Magazine worked with a range of Australian experts to cut through the hype surrounding thousands of individual products to come up with its winners list, which covers almost 70 categories and hundreds of individual products."

Horizon was ranked first when the historical two-year average interest rate on $5000 in the account was compared.

The Illawarra-based credit union also achieved a Canstar Cannex five star rating for two of its loan products.

The new car loan variable and the car loan secured by term deposit products were chosen after a comprehensive review by the independent Financial Services Research Group on the cost and features of more than 500 personal loans offered by more than 90 providers.

"As a not-for-profit organisation we try to make our products and services as affordable as possible for our members, providing features and benefits to drive their dollar further," Mr Stanfield said.

"With tough financial times expected to continue in 2009, it really does pay for people to look beyond the major banks to find the best value products."