Golden Acocunt Target Market Determination

Effective date: 25/03/2026
Product: 682

Key Product Attributes

Target Market

This product is designed for customers aged 55 years and over who want an everyday transaction account with ongoing access to their funds and stepped variable interest paid on account balance.  

This product is designed for members who:

• Are a resident of Australia
•  Are aged 55 years or over
• Are seeking a transaction account that provides regular access to funds and pays interest on the balance on a stepped basis, with each portion of the balance earning the rate applies to its tier. 

This product is not suitable for members who:

• Do not meet the Australian residency.
• Are an individual aged under 55 years.
• Are non-individual, businesses, organisations and sole traders.

Likely Objectives, Needs and Financial Situation

• Provides customer with ongoing access to their balance for everyday transactions, payments and withdrawals with Visa Debit Card.
• Allows customers to earn interest on their account balance through stepped interest rate.
• Requires flexible access and manage their account easily via internet banking and ATMs.

Distribution of this Product

This product is designed to be distributed by:

• Visiting a BCU Bank branch in person or calling the BCU Bank Contact Centre on 1300 228 228.
• Via the BCU Bank website at bcu.com.au or by accessing BCU Bank’s App account opening tool.

Where this product is distributed by an appropriately trained and authorised BCU Bank representative, these representatives will apply distribution conditions which include ensuring that members fall within the TMD, meet the eligibility and servicing requirements and that the product is not unsuitable for their needs.

Where this product is distributed through online channels, BCU Bank views that its online channels provide customers access to clearly presented product information (including key product features and applicable interest rates and fees) designed to assist customers select the most suitable product for their circumstances.

Distributors Obligations

The following information must be provided to BCU Bank (Police & Nurses Limited) by distributors who engage in retail product distribution conduct in relation to this product:

Accredited BCU Bank staff who are required to

• follow an approved conversation framework and direct members towards the most suitable product to meet their objectives, needs and financial requirements.
• understand and be able to discuss the features, benefits, rates, and any applicable fees associated with the product to ensure that the selected product meets the members' needs.
• provide details of any request for this product that may be inconsistent with this TMD. Police & Nurses Limited Products department must be notified as soon as practical and within 10 business days of staff becoming aware of any inconsistencies in the sale of this product with this TMD. Failure to provide details of dealings considered inconsistent with this TMD may lead to this product being removed from sale.

Sales and discussion records are regularly monitored by BCU Bank Retail Managers and Police & Nurses Limited Operation Risk to identify errors and ensure compliance with BCU Bank distribution processes.

Online Channels (BCU Bank website; rate and comparison websites)

• the BCU Bank website provides members with information about this product, including the interest rates, any applicable fees and charges as well as a summary of the key features and benefits of the product.
• existing BCU Bank members who elect to open new accounts via the BCU Bank website are directed through a product selection journey designed to assist the member with the selection of the most suitable product.
• enquiries lodged via the BCU Bank website may be directed to accredited BCU Bank staff.
• Rate and comparison websites provide members with an overview of rates and products available. Members may select a series of click through links that will direct them to BCU Bank’s website where they can request a call from one of our accredited staff.

Distribution appropriateness

These distribution conditions are designed to ensure that all channels capture and record the members objectives, needs and financial situation through the sales process and lead to the recommendation of this product as the most suitable for members according to the key attributes of the product listed and described in this determination.

These obligations are also considered appropriate as the target market is wide and the issuer has distributed this product using these methods, with limited risk to members.

Reviewing this document

This TMD will be reviewed within 1 year from the effective date and every 1 year after the initial review and each subsequent review to ensure it remains appropriate.

We will also review this document should any review triggers occur that would reasonably suggest that the TMD is no longer appropriate. The occurrence of any one of the following trigger events will result in an immediate review of this TMD:

• a dealing of the product to members, made through any distribution channel, that is not consistent with this target market determination occurs and results in a significant material impact to a member or material impact to numerous members.
• material changes to the product or the terms and conditions of the product occurs which would cause the TMD to no longer be appropriate.
• material changes to the regulatory environment.

A quarterly review will be conducted of the following trigger events to determine if the account performance, usage, or complaint information indicates that a review of this TMD is required. These triggers include:

• a material and/or unexpected increase in the volume, nature and/or significance of complaints is received in any quarter from members in relation to their purchase or use of the product that reasonably suggests that the TMD is no longer appropriate.
• changes to the overall product performance, as determined by the issuer, that suggests that the product is no longer appropriate to the target market, including but not limited to an unexpected change in the sales volumes in any or all of the distribution channels, a material change in the volumes of product closures and/or product switches or an unexpected increase in associated fee income.
• feedback received from any of the distribution channels for this product.