Laboratories Credit Union Young and Free Student Account
savings accountage limitedoccupation membershipterms checked
Young and Free Student Account is a savings account from Laboratories Credit Union. At $50,000 it pays 1.09% p.a. with no bonus conditions.
Rate tiers
Every balance band in the bank's feed: base is the rate the bank pays.
| Balance | Base |
|---|---|
| $0 – $10,000stepped: paid on the part of the balance in this band | 5.40% |
| $10,000.01+stepped: paid on the part of the balance in this band | 0.01% |
The rates are stepped: each band's rate is paid on the part of the balance that falls in it, so a balance across several bands earns a blend of them.
Conditions
- ages 8 to 25
- the account is conducted in one name only, so there are no joint holders
- only available to current LCU members and their family
Features
- card
- Visa Debit Card with payWave
- app
- yes
- Osko
- yes
- PayID
- yes
- notifications
- yes
- wallets
- Use your compatible Android device to make payments, Use your compatible Apple device to make payments
Other features, in the bank's words:
- BPAYView - Receive your bills directly to your internet banking and pay with one click
- Sweep Facility - Automatically move funds between your accounts based on a minimum or maximum balance to be maintained on the specified account
- Government Guarantee - Under the FCS certain deposits are protected up to a limit of $250,000 for each account holder at any bank, building society, credit union or other authorised deposit-taking institution (ADI) that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA).
- Receive international payment to your account through Western Union. No fee for sender or receiver.
- Send International Payments self serve through your internet banking or staff assisted
- International exchange on foreign cheques and cash
Fees, limits and who can open it
- monthly fee
- no monthly fee stated
- interest paid
- half-yearly
- interest calculated
- daily
- age
- ages 8 to 25
- open to
- personal customers
- age limited
- open only to people of certain ages (kids, youth or seniors accounts)
- occupation membership
- open only to people in certain occupations, or the lender takes members only from them
Who can open it, in the bank's own words:
- age 25 and under
- students only: Full time student
- residency: If not an Australian resident, you must complete a Tax Residency Declaration
- Must be a shareholder owning a $10 share. Each shareholder holds an equal share regardless of their balance. Shareholders have a say in how we are run. "Own your Bank". $10 share is refunded if you choose to close your account.
- To be eligible to join you must be at least 8 years of age and referred by a family member or friend who already has an account with LCU. Alternatively you may be eligible to join if you: work or live in the greater Ryde area; have an association with Riverside Corporate or Macquarie Park; or work in a STEM industry.
About this account
Learn to save with a great interest rate and no monthly Visa card fees. Bonus rate on balances up to $1000.
Data
- Laboratories Credit Union's own page for this account.
- The bank's documents its product record links to: terms and conditions, fees.
- Our verbatim snapshot of the bank's product record (source), as fetched on 6 November 2026.
- We read the bank's own page and terms against this page on 1 November 2026: young-free-student-account, disclosure-documents, Interest-Rate-Brochure_08092026.pdf, Summary-of-Accounts-Availability.pdf; conditions they state and its feed does not are listed above.
/au/finance/savings-accounts/v1/brands/laboratories-credit-union.json: this bank's accounts and every balance band as JSON; Laboratories Credit Union's page lists them.- The bank last updated this record on 6 November 2026. Rates are per annum as the bank states them; "stale" means the bank has not updated the record for over 60 days or since the latest cash rate change.
Other accounts at Laboratories Credit Union
- Esaver Accountstale savings account, 1.00% base at $50,000
- Savvy Saver savings account, 4.36% conditional at $50,000
- Everyday Transaction Accountstale transaction account, 0.01% base at $50,000
All of Laboratories Credit Union's accounts on its page, with its best rates per segment and rate kind, and every account at every bank.
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