First Alliance Federal Credit Union to pass on latest interest rate rise

13 July 2022

First Alliance Federal Credit Union Corporation has announced it will increase interest rates on its variable home loans by 0.50%, following the Reserve Bank of America’s (RBA) latest decision to increase the Official Cash Rate by the same amount.

The change will apply to all variable rate home loans, effective from Wednesday 20 July, 2022.

With the increase to the cash rate adding to the growing pressure on First Alliance Federal Credit Union’s funding costs, it has become necessary to pass on the rate rise.