Credit Union SA Home Loans

Rates and Fees verified correct on December 3rd, 2016

What you need to know about borrowing with Credit Union South Australia

CreditUnionSA

Australia’s third-largest credit union boasts 50 years’ worth of experience and goes the distance in providing personal attention, community service, varied home loan products and competitive rates and fees.

What do I need to know about Credit Union SA?

The Credit Union SA philosophy is rooted in creating a happier, healthier community by helping their members realise their financial goals and bettering their quality of life. Half a century’s worth of experience means that the Credit Union SA staff understands home loans and helping members select the right product for their needs.

They assist members in financial difficulty and practise good corporate citizenship by participating in community-based projects, from helping the homeless to coordinating awareness programmes for troubled teens. As far as their home loans go, Credit Union SA offers four attractive options as well as an all-inclusive package. Whether members are looking for reliability, peace of mind or flexibility, Credit Union SA is committed to helping them secure the right home loan and manage their financial future in a responsible way.

Teachers Banking Benefits

Credit Union South Australia offer extra banking benefits to teachers extra benefits when choosing to bank with them. This includes $2,000 cash back to teachers who choose to take out their first home loan with them or choose to refinance from another lender to them.

If you work in the education system in South Australia and are looking for a first home loan of $200,000 and apply with Credit Union South Australia you will receive $2,000 cash back. If you are looking to refinance with over $200,000 of your loan to be used for this they will also give you $2,000 cash back as well as more benefits see their website for details.

Compare Credit Union SA Home Loans

Rates last updated December 3rd, 2016
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
Credit Union SA Home Loan Package - Variable Special Offer (Owner Occupier)
Enjoy a competitive variable interest rate with this package special offer.
3.89% 4.29% $0 $395 p.a. 80% More info
Credit Union SA Home Loan Package - Fixed 3 Years (Owner Occupier)
Enjoy a 3 years fixed rate home loan which will give borrowers the certainty and ease knowing their repayments when budgeting.
3.99% 4.92% $0 $395 p.a. 80% More info
Credit Union SA Home Loan Package - Variable $250k to $500k (Owner Occupier)
A variable home loan with low ongoing or extra fees.
4.44% 4.82% $0 $395 p.a. 80% More info
Credit Union SA Home Loan Package - Variable $500k+ (Owner Occupier)
Cash back and other offers available to teachers who take out a new loan or refinance from another lender.
4.39% 4.77% $0 $395 p.a. 80% More info
Credit Union SA Home Loan Package - Fixed 2 Years (Owner Occupier)
A 2 years fixed rate which will ease budgeting and give you security throughout the fixed period.
4.19% 5.02% $0 $395 p.a. 80% More info
Credit Union SA Home Loan Package - Line of Credit $500k+ (Owner Occupier)
Access a line of credit of $500k or more with no application fee.
4.74% $0 $395 p.a. 80% More info
Credit Union SA Discounted Home Loan - $20k and above (Owner Occupier)
Enjoy a discounted rate with no application or ongoing service fee.
4.50% 4.52% $0 $0 p.a. 80% More info
Credit Union SA Home Loan Package - Variable $100k to $150k (Owner Occupier)
A variable home loan with no application fee where you can borrow up to $149999.
4.99% 5.36% $0 $395 p.a. 80% More info
Credit Union SA Home Loan Package - Variable $150k to $250k (Owner Occupier)
A competitive variable rate home loan with no settlement fee. Cash back and other offers available to teachers, terms and conditions apply.
4.74% 5.12% $0 $395 p.a. 80% More info
Credit Union SA Home Loan Package - Line of Credit $100k to $150k (Owner Occupier)
Borrow from $100000 up to $149999 with this line of credit loan.
5.34% $0 $395 p.a. 80% More info
Credit Union SA Discounted Home Loan - $20k and above (Investor)
Borrow from as little as $200000 and get a discounted rate on your next investment purchase.
4.75% 4.77% $0 $0 p.a. 80% More info
Credit Union SA Home Loan Package - Fixed 1 Year (Owner Occupier)
Ideal for borrowers who want security considering that repayments will not change.
4.39% 5.08% $0 $395 p.a. 80% More info
Credit Union SA Fixed Home Loan - 2 Years (Owner Occupier)
Flexible product benefits include up to $10,000 each year for additional repayments and redraw at no cost.
4.34% 5.09% $600 $0 p.a. 80% More info
Credit Union SA Home Loan Package - Line of Credit $250k to $500k (Owner Occupier)
Access your equity or just opt for a line of credit with this line of credit home loan as part of a package.
4.79% $0 $395 p.a. 80% More info
Credit Union SA Fixed Home Loan - 3 Years (Owner Occupier)
Enjoy 3 years fixed rate and take advantage of a secure monthly repayment.
4.14% 4.96% $600 $0 p.a. 80% More info
Credit Union SA Fixed Home Loan - 1 Year (Owner Occupier)
Enjoy 1 year fixed rate home loan and budget with certainty knowing what your repayments are.
4.54% 5.18% $600 $0 p.a. 80% More info
Credit Union SA Variable Rate Home Loan - $20k and above (Owner Occupier)
A variable home loan that allows you to borrow from $20,000.
5.19% 5.25% $600 $0 p.a. 80% More info
Credit Union SA Home Loan Package - Line of Credit $150k to $250k (Owner Occupier)
Take out this line of credit for amounts between $150000 up to $249999.
5.09% $0 $395 p.a. 80% More info
Credit Union SA Line of Credit Home Loan - $10k and above (Owner Occupier)
This line of credit home loan allows you to borrow from as low as $10,000 and above.
5.54% $600 $0 p.a. 80% More info

What home loans are provided by Credit Union SA?

Standard Variable Rate Home Loan

This home loan’s main feature is its flexibility thanks to features that allow maximum freedom in managing repayments. Members choose the pace at which they repay the loan and they also have the option of settling the full amount without risk of penalty. The standard variable loan is available for as little as $20,000 for a loan period of up to 30 years. Credit Union SA offers the standard variable option as part of their Home Loan Package product.

Discounted Home Loan

This loan option features competitive rates and could be the ideal product for members keeping a close eye on their budget. Members have access to the same flexible features allowing early and extra repayments, as well as the option to increase the home loan amount (certain conditions apply). In addition to paying no monthly fees, the $600 application fee for this loan is also waived.

Fixed Rate Home Loan

Borrowing at a fixed rate means peace of mind as your interest rate remains unchanged for up to three years of the loan period. Credit Union SA provides this kind of certainty to help home buyers ease into a long financial relationship, and also helps them cultivate responsibility while managing their budgets. This loan’s features allows for maximum flexibility to make additional repayments, choose the frequency of those repayments and access a redraw facility when necessary.

Line of Credit Home Loan

If you currently have a home loan with Credit Union SA and you’d like a little more financial breathing room, you can borrow against the equity accrued in your loan with a line of credit. As long as the interest payments are made each month and you borrow within the set limit, you can withdraw whenever you need access to additional funds. The line of credit is available for a minimum of 10 years and can be repaid at any time.

Home Loan Package

This is a comprehensive solution for first-home or refinancing customers. When opting for the package deal, customers gain access to a number of Credit Union products like Visa cards and transaction accounts, all at discounted rates while maintaining 100% of the benefits. Besides offering a redraw facility, an offset account and waived fees, customers benefit from discounted interest rates if they choose the Fixed Rate, Standard Variable or Line of Credit options as part of the package.

Advantages and considerations

Pros

Credit Union SA offers its customers flexible, low-interest home loan options with a number of benefits.

  • Flexibility. All Credit Union SA’s home loans allow its customers the option to choose how and when they’re able to repay their loans.
  • All-inclusive package. The Home Loan Package is a comprehensive option that allows access to a full range of Credit Union SA products along with a discount on the home loan’s interest rate.
Cons

While customers stand to benefit from these home loans, they should keep an eye out for the pitfalls.

  • Debt traps. A line of credit can provide a convenient windfall, but if spending is not managed properly, you could quickly fall into a debt trap. Failure to make payments incurs additional dishonour charges and negative implications for your credit record.

How to apply for a Credit Union SA home loan

If you would like to apply for a home loan form Credit Union SA, click on ‘more info’ in the table above to speak to a mortgage broker about your eligibility.

Documents needed to apply for a Credit Union SA home loan
  • Identification. This includes documentation that verifies your identity and complies with the 100-point ID check. You could include birth or citizenship certificates, a current passport or a driver’s licence. 
  • Property information. A complete home loan application should include a contract of sale, a receipt for a deposit, all building-inspection documents and construction or renovation paperwork if applicable.
  • Financial information. Here they’d like to know about your employment status, salary and whether you have assets in your name that bring in additional income. You should also include a list of liabilities like current loans, credit-card statements, rent and a list of monthly expenses; this helps the lender determine whether or not you’re able to make repayments, and also the amount for which you can borrow.

Whether it’s for a first purchase, a refinancing project or investment in a second or third property, Credit Union SA’s home loans offer flexibility with repayments and a line of credit option, but also a culture of financial responsibility thanks to fixed-rate options for the first three years.

Was this content helpful to you? No  Yes

Related Posts

This page was last modified on 1 September 2016 at 13:54.

HSBC Home Value Loan - Resident Owner Occupier only

Enjoy the low variable rate with $0 ongoing fee and borrow up to 90% LVR.

ME Bank Basic Home Loan - LVR <=80% Owner Occupier

A low variable rate loan with no application or ongoing fees.

NAB Choice Package Home Loan - 3 Year Fixed (Owner Occupier)

Receive discounts on interest rates with the Choice Package. 250,000 Velocity Frequent Flyer point offer, conditions apply.

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

Ask a question
feedback