Goulburn Murray Credit Union home loans

Victorian residents can broaden their home loan options when banking with Goulburn Murray Credit Union.

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Goulburn Murray Credit Union

Goulburn Murray Credit Union (GMCU) is a combination of six different credit unions that have joined together to serve central and northern Victoria. This includes the former; Seymour Credit Union, Numurkah Credit Union, Kyabram Credit Union, Rich River Credit Union, North East Credit Union and Shappartion Credit Union. Now almost 25,000 members are all able to benefit with a variety of different home loans to choose from.

Who is Goulburn Murray Credit Union?

GMCU provides loan options for both the owner occupant and investor. Choosing your own features, the loan can be structured to meet your requirements. You have the choice of a variable interest rate, or may opt for a fixed rate of up to three years. Investors have the opportunity to make interest-only repayments and additional repayments are accepted at any time.

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Rates last updated October 19th, 2019
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Home loans offered by Goulburn Murray Credit Union

Basic Variable

The Basic home loan package has a monthly maintenance fee of $8. In addition, you will be charged $50 per transaction for withdrawals from the redraw facility.

Standard Variable

The Standard Variable rate home loan is available with terms of up to 30 years and will have features such as flexible repayment options and redraw facility.

Introductory 6 months fixed rate

Your loan officer will let you know if you qualify for this special interest rate on the first six months of your home loan. After that period ends, it will revert to the standard rate.

Fixed Rate

The Fixed Rate home loan is available for a period of one, two or three years giving you a steady repayment amount during that time. At the end of the fixed rate term, the interest will revert to the standard variable rate.

Benefits and considerations of a Goulburn Murray Credit Union home loan


Home loans obtained through GMCU offer some flexibility in their purpose and structure along with the way in which repayments are made:

  • Loan availability. Home loans may be obtained through GMCU to fund the purchase of an owner occupied property, refinance an existing mortgage, bridging finance or to finance a real estate investment.
  • Repayment schedule. You will be able to choose from weekly, fortnightly or monthly repayments.
  • Extra repayments. Additional and higher repayments may be made at anytime. There is also a redraw facility if you need a portion of that money back.
  • Interest options. You can structure the loan to have a fixed repayment amount for a period of time.
  • Fees. There is a loan establishment fee whose amount is progressive based on the amount of money being borrowed.
  • Redraw facility. For home loans other than the basic variable, there is a $25 fee for each withdrawal from the redraw facility.

How to apply for a Goulburn Murray Credit Union home loan

GMCU prefers that applicants fill out the necessary paperwork with one of their loan officers.

  • Where to apply. There are 11 different locations in Victoria where you can meet with an officer to discuss your home loan options and availability.
  • Locations include: Shepparton, Benalla, Echuca, Euroa, Kilmore, Kyabram, Mooroopna, Numurkah, Seymour, Violet Town and Alexandra.
  • Make an appointment. It's a good idea to call the branch before your visit to find out what types of paperwork will help facilitate your application process.

In many cases the loan officer is going to be able to provide an answer for your application within 24 hours. Before making an appointment, review the above chart and familiarise yourself with the fees and rates of the home loans available.

Documents needed to apply for a Goulburn Murray Credit Union home loan

Personal information

All financial institutions are obligated to prove your identity before they can offer a home loan. To meet this requirement you will be asked to produce one of the following:

  • Driver’s licence. A valid Australian driver’s licence with your picture.
  • Passport. A passport which has been issued by the Australian government.
Property information

Important information regarding the property being purchased is also a requirement of lenders. This includes:

  • Contract of sale. A contract of sale is the legal binding document that you made with the seller when he or she accepted your offer on the property.
  • Copy of certificate of title. This document is proof that the person who is selling the property has the legal right to do so.
  • Copy of transfer of land. This document shows that the ownership of the property has been transferred into your name.
Financial information

Financial information is also required in order for the lender to determine if you will be able to meet the terms of the loan without financial hardship. This is done by looking at:

  • Your income. Pay slips are commonly used to show the amount of money you earn regularly.
  • Your debts. With recent statements you will be asked to provide information on your other financial obligations.
  • Your assets. Your assets include any property of value that you own including property and vehicles.
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Home Loan Offers

Important Information*
Logo for UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers (*now 3.09%, drops to 2.84% on 29 Oct), P&I $200K+
UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers (*now 3.09%, drops to 2.84% on 29 Oct), P&I $200K+

Take advantage of a low-fee mortgage with a special interest rate of just 2.84% p.a. and a 2.84% p.a. comparison rate.

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

Owner occupiers looking to refinance can get one of the lowest rates in the market with this variable rate mortgage. $0 application fee and $0 ongoing fees. Refinancers only.

Logo for Virgin Reward Me Fixed Rate Home Loan - 2 Year $300k+ Special offer (Owner Occupier, P&I)
Virgin Reward Me Fixed Rate Home Loan - 2 Year $300k+ Special offer (Owner Occupier, P&I)

Buy your home and lock in a low rate for the first two years. Available with a 10% deposit. Earn Velocity Frequent Flyer Points at settlement, monthly and every three years, plus extra bonus points for a limited time.

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