OREANDA-NEWS. Ratings agency Canstar has awarded Qantas Credit Union's Qantas Points Banking range an Innovation Excellence in Financial Service award. The Qantas Points Banking range allows Qantas Frequent Flyers to earn Qantas Points on their savings, car loan and home loan.

Qantas Credit Union Chief Executive Officer Scott King said the new banking range, which launched last November, had been a winner with Members.

“This unique initiative has been positively received by our Members thanks to the positive impact each product can have on their Qantas Points balance.”

“Today our Qantas Points Home Loan Package becomes even more compelling with a USD 0 annual package fee and a bonus 60,000 Qantas Points on Loans USD 250,000 or greater. It has to be one of the best home loan packages on the market”.

Qantas Loyalty Chief Executive Officer Lesley Grant congratulated the Qantas Credit Union on its award win.

“This range of banking products provides an excellent opportunity for our members to earn Qantas Points and we are delighted the Qantas Points Banking range has been recognised with this award.”

Through the Qantas Points Banking range, a Member with a USD 400,000 Qantas Points Home Loan Package, USD 25,000 Qantas Points Car Loan and a deposit of USD 18,000 in a Qantas Points Saver account could earn up to 260,928 Qantas Points in three years. Assuming the average balances are maintained, that's enough to redeem two return economy Classic Award flights from Sydney to London*.

Mr King said the Qantas Points banking products were now being marketed to the wider market and he was confident that it would result in membership growth for the Qantas Credit Union.

“We are already one of the largest credit unions in Australia and we believe there is potential for us to grow our Member base further, with the Qantas Points product range as the driver.