Credit Union Announces "Dam Busting" Initiative

Maleny Credit Union (MCU) has launched a new loan aimed squarely at promoting greater water self-sufficiency in South East Queensland. The MCU "Dam Busting Loan" is available for the purchase and installation of water tanks at an interest rate of just 7.95%* p.a. with no upfront or ongoing fees.

This announcement coincides with the introduction of Level 3 Water Restrictions in South East Queensland where dam water levels have dropped to approximately 30% of capacity.

MCU Board Facilitator, James Davidson, said "MCU is pleased to offer discounted personal loans to encourage greater water self-sufficiency. There is nothing more essential to life than water yet we find ourselves in a situation of shortage. If every household took the initiative to capture water from their own rooftops we would dramatically reduce the demand for public water infrastructure. Proposed dams like Traveston Crossing, with their great financial, social and environmental costs, would not be required."

MCU General Manager, John Ford, said the "the MCU Dam Busting Loan helps to make home owners more autonomous with regards to water. A decent size water tank connected for household use, in combination with AAA showerheads, 4 Star washing machines and dual flush toilets, would dramatically reduce dependence on council supplied water. With water rates increasing borrowers can also expect financial savings from installing a water tank. Moreover, the State Government, along with some progressive councils, are offering attractive rebates to residents who install water tanks. So there has never been a better time to install a water tank especially with the assistance of our low cost Dam Busting Loan."

More information on MCU’s "Dam Busting Loan" can be found here or by calling MCU on 5494 2144.