Southern Cross Credit Union is an Australian member-owned credit union based in New South Wales. As a credit union, it is regulated by APRA and deposits are protected under the Financial Claims Scheme up to $250,000 per account holder per ADI.
Both the Star Saver and Little Star Saver accounts pay a competitive ongoing rate. The difference is in how you earn it: Star Saver requires you to grow your balance by at least $100 in the calendar month; Little Star Saver requires no withdrawals during the month instead. If you make regular contributions but occasionally need to withdraw, Star Saver is the more flexible of the two. If your savings are stable and you rarely touch them, Little Star Saver's no-withdrawal condition may be easier to maintain.
If you don't meet the relevant condition in a given month, both accounts revert to the base rate for that month.
Southern Cross CU is a smaller institution and may suit savers who prefer a member-owned alternative to the major banks.