Take advantage of a competitive and flexible car loan from Australian Defence Credit Union.
ADCU has been rebranded and is now called Australian Military Bank, they offer all the same loan products and services. This page is kept for informational purposes only.
Credit unions are financial institutions run solely to benefit members, with any profits passed on to members in the form of savings and competitive products. The Australian Defence Credit Union (ADCU) started in 1959 and today is one of the longest continuously operating credit unions in the country. ADCU offers two car loan products—both with competitive rates and minimal fees—that are viable options to consider if you are looking for financing options for your next car.
Types of car loans from ADCU
There are two types of car loans offered by ADCU:
- New Car Loan. The New Car Loan can be used to finance new car purchases between $1,000 and $80,000. The car has to be less than one year old and you can borrow the money for a period of between one and seven years.
- Used Car Loan.This loan is designed to finance a car that is between one and five years old. You can borrow between $1,000 and $70,000 for a period of up to seven years.
Comparison of ADCU Car Loan
Features and benefits of ADCU car loans
- No deposit required.If you are taking out the New Car Loan you are able to borrow up to 100% of the purchase price.
- Low fees. Both car loans from ADCU offer no monthly or annual fees, helping you to save money over the life of your loan.
- Competitive rate. You can take advantage of a competitive rate with both loan offerings.
- Secure borrowing. You have the option of taking out Loan Repayment Insurance.
- Flexible repayments. Both the New and Used Car Loan allow you to make early repayments without penalty and let you choose to make monthly, fortnightly or weekly repayments. Your repayments can also be automatically deducted from your nominated account.
- Redraw facility. There is a redraw facility available, allowing you to take back any additional repayments you make should you need them.
- Joint applications. You are able to apply for this car loan using a joint application.
What other products does ADCU offer?
There are various other financial products that are available from ADCU to benefit members. These include:
- Loan products. These include car loans, personal loans and home and investment loans.
- Credit cards. ADCU offers a Low Rate Visa Credit Card, a Visa Debit Card and a rediCARD.
- Savings and transaction accounts. You can choose from transaction accounts, savings accounts including the Recruit Saver Account and the DIY Super Saver, and a term deposit account option.
- Insurance products. ADCU insurance products include motor vehicle insurance, boat and caravan insurance, loan and mortgage protection, insurance products for your home and barracks, landlords’ insurance and travel insurance.
How to apply for an ADCU car loan
To apply for a car loan from Australian Defence Credit Union, follow the secure link on this page to fill out an online application form. As ADCU is a customer-owned banking association you will need to be a member before you apply and need to provide the following information when applying:
- Personal details including your name, contact information and proof of ID.
- Employment details including your employer’s name and contact information.
- Details of your income and your pay frequency, plus a recent payslip or two years of financial statements if you are self-employed.
- Information regarding your financial position including your mortgages, vehicles, credit cards, savings and investments, super and any other assets.
If you are looking for to finance a new or used car, you might want to consider the options available from Australian Defence Force Credit Union. Compare your options to see if ADCU has the loan you need.