Central West Credit Union home loans

A closer look at the home loans provided by Central West Credit Union.

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Central West Credit Union

Central West Credit Union began life as the Central West County Council Employees Credit Union in 1966. Although it originally had just 86 members, today this NSW-based credit union boasts a membership of more than 11,000.

Central West Credit Union has branches in Parkes, Forbes and Cowra, plus agencies in Condobolin, Grenfell and Peak Hill. With managed assets over $111 million, its suite of products includes savings accounts, term deposits, credit cards and home loans.

Compare Central West Credit Union home loans

Rates last updated September 20th, 2019
Loan purpose
Offset account
Loan type
Repayment type
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Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
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$650 p.a.

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Who is Central West Credit Union?

For customers looking to borrow money, Central West Credit Union offers home loans, personal loans and car loans. Customers can choose from fixed or variable rate home loans, while this lender specialises in standard home loans.

With options available for those looking to buy a new home or refinance an existing loan, Central West Credit Union offers a range of flexible options to its customers. These include free redraws, no monthly fees and a range of discounts on other banking products.

Customers can apply for a Central West Credit Union home loan online or at a branch.

Home loans provided by Central West Credit Union

Mortgage Smart Home Loan

This loan is available to customers looking to purchase a home or refinance their existing home loan. It features a competitive variable interest rate and a minimum borrowing amount of $10,000. Owner-occupiers can take advantage of a 100% offset account, while free redraws of over $500 are also available.

There’s no penalty for early repayments, allowing you to pay your loan off quicker, while split loans are an option. Other features include a discount on the loan establishment fee, a free transaction account, no monthly account keeping fee and a discount on CGU home insurance.

Minimiser Home Loan

The Minimiser Home Loan is also available to customers looking to purchase a home or refinance their existing home loan, but it offers a lower variable rate than the Mortgage Smart Home Loan. A minimum loan amount of $100,000 applies, but there is no option to split your loan.

A redraw facility is available for a fee, while a capped loan establishment fee also applies. Other features include no monthly fees, no penalty for early repayment, salary direct deposit, and a limited amount of free transactions on your transaction/savings account.

Fixed Rate Home Loan

The Fixed Rate Home Loan offers a competitive fixed interest rate for a period of one or two years. More information about this loan can be found by contacting Central West Credit Union.

Pros and cons


  • No penalty for early repayment. The Mortgage Smart and Minimiser Home Loans allow you to pay off your debt early without incurring a fee.
  • No monthly fees. The absence of monthly account-keeping fees helps you save money.
  • Competitive rates. The fixed and variable interest rates offered by Central West Credit Union are typically quite competitive when compared to the big banks.
  • Direct deposit. Central West Credit Union allows you to set up direct payments from your salary towards your loan.


  • Establishment fee. You’ll need to pay an establishment fee to set up your loan, though this varies depending on the loan you choose.
  • Limited branch coverage. The credit union only has branches in the Central West of NSW, which could be an inconvenience for customers who live elsewhere.

How to apply for a Central West Credit Union home loan

Applying for a home loan from Central West Credit Union is a simple process. You can apply online by filling out a simple form, or you can download a form, fill it out and then submit it by mail or in person.

You’ll need to provide your contact details, information about how much you wish to borrow and details of the property you are buying. You’ll also need to be over the age of 18 and a permanent Australian resident.

Once you have submitted your application, a Central West Credit Union lending expert will be in touch soon afterwards to take you through your borrowing options.

Documents needed to apply for a Central West Credit Union home loan

Personal information

You will need to prove your identity in order to take out a home loan. You can supply the following items to do so:

  • Birth certificate
  • Passport
  • Driver’s licence
  • Medicare card
Property information

Central West Credit Union will require details of the property you are buying to assess your application. You’ll need to provide:

  • Contract of sale. This contains details of the property and information pertaining to its sale.
  • Copy of certificate of title. This document is required in order to prove that the property is in fact owned by the person selling it.
  • Copy of transfer of land. This confirms the transfer of the property from the seller to you.
Financial information

Finally, Central West Credit Union will need information about your financial situation in order to assess your ability to pay off your loan. You’ll need to supply details of your:

  • Income. How much do you earn per year and where do you work?
  • Assets. Do you have any assets in your name, such as a car, shares or even another home?
  • Liabilities and expenses. The lender will need to know of any outstanding debts and ongoing expenses you have.

The three home loans offered by Central West Credit Union provide competitive features and benefits to prospective borrowers. Use our comparison tools to check how these loans stack up against other products on the market.

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Home Loan Offers

Important Information*
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UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000

Take advantage of a low-fee mortgage with a special interest rate of just 3.09% p.a. and a 3.09% p.a. comparison rate.

Logo for Athena Variable Home Loan - Refinance (Owner Occupier, P&I)
Athena Variable Home Loan - Refinance (Owner Occupier, P&I)

Low variable rate mortgage for owner occupiers looking to switch. Refinancers only.

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