Southern Cross Credit Union Home Loans

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With a home loan from Southern Cross Credit Union you get all the benefits of a big bank with the comfort of localised service

Southern Cross Credit Union (SCCU) is a community owned and operated banking institution serving the Northern Rivers region of Australia. By reinvesting any profits earned by the institution, they are able to offer members competitive rates and fees for their line of banking products including their home loan packages.

When it comes to home loans, SCCU has a number that are able to meet varying needs. The loans offered by SCCU also come with many of the same features and options that you find in banks, such as offset facilities, flexible repayments and lines of credit.

You should be able to find a loan that is offering what you want, whether it be no monthly fees, free redraws or a refinancing package that helps you consolidate debt. SCCU can also help investors with an interest-only loan that could make it easier to purchase an investment property.

Rates last updated September 22nd, 2017
Loan purpose
Offset account
Loan 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
$0 p.a.
A competitive variable rate product with low fees offered by a 100% online lender.
$0 p.a.
A basic home loan with a competitive rate and low fees.
$0 p.a.
Combine a low variable interest rate and free redraw with no application or ongoing fees.
$0 p.a.
A maximum 80% LVR home loan with no ongoing service fees and a linked transaction account.
$0 p.a.
A low variable rate loan with no application or ongoing fees.

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Home loans provided by SCCU

Standard home loan

This is your basic home loan that provides you with the choice of a variable or fixed interest rate. With the variable rate option you will have the benefit of an offset account with redraw available for your extra repayments. There will be a charge of $25 for each transaction, but the standard home loan has no monthly or annual fees that you need to concern yourself with.

Choose terms that extend from 1 to 30 years for a minimum loan amount of $10,000. Your repayments will be flexible, allowing for interest only or principal and interest repayments. You can conveniently check the status of your account using the SCCU net-banking system, or visit any one of their ten branches.


If the home you are in now is right for you, but the home loan you have isn’t, you could switch to SCCU and refinance your existing home loan. This may assist in securing a home loan that is a better fit for your lifestyle or circumstance.

SCCU could be offering a better interest rate than your current loan with a bank is. You can then use any extra equity towards renovations, a holiday or to consolidate your debts. With an online application available you can find out easily if you meet the qualifications for a refinance from SCCU.

Pros and cons


  • Competitive interest rate. SCCU offers a discount with the Five Star Plus home loan on the interest rate of 0.1% off of a fixed rate mortgage and 0.5% off of the variable rate. There is an annual fee that you will have to pay that the standard loan does not have.
  • No monthly fees. Members of SCCU will not be responsible for any monthly maintenance fees for the home loans.
  • Flexible terms. Borrowers get to choose the terms that suit their circumstance from 1 to 30 years.
  • Net-banking. Not only can a loan recipient check their account online, applications are also accepted using their secure website.


  • Offset account. Unlike banks which usually offer a 100% offset account with a home loan, it is unclear at what percentage SCCU offers theirs.
  • Loan establishment fee. SCCU charges borrowers $699 to complete the necessary paperwork for a home loan.

How to apply for a SCCU home loan

SCCU makes applying for a home loan easy by allowing you to apply online. If you prefer you are also welcome to fill out the application at one of their ten branches.

  • Membership. You will first have to become a member of the credit union before applying for any home loan product. As part of the application you will need to supply your membership number. If you are not yet a member you can pay $10 for your share and fill out the membership application online.
  • Online application. By giving your full details and home loan needs in an online form, SCCU will be able to assist you in finding the product that fits your needs.
  • Next steps. After submitting your information, a loan consultant will be in contact with you to discuss your application and what steps you will need to take next.

Documents needed to apply for a SCCU home loan

Personal information

When applying for banking products through a credit union, you may first be required to become a member. In some instances this will involve paying a small fee so that you are considered a shareholder in the institution. In addition to your membership number, SCCU will also need the following personal information:

  • Identification. The identity of the applicant has to be verified using a 100 point system. This will include a valid photo identification document such as your driver’s licence or passport.
  • Previous residence. In addition to your current contact information, the SCCU application is going to ask about your prior residence.

Property information

While not necessary when filling out your initial online application, there will come a point when SCCU will need to see information about the property to be used as security. This generally includes:

  • Sales contract. At some point, the agent is going to provide you with a contract detailing the sale and your intent to purchase the property.
  • Certificate of title. This is a document that proves that the seller is indeed the owner of the property and has the right to make the sale to you.
  • Transfer of land. This document shows that the property is going to be transferred into your name.

Financial information

The online application that you will see when you click the link asks for detailed information about your personal finances. This includes a list of:

  • Liabilities or commitments. This is a list of your monthly repayment obligations and will need to be totalled at the end. For credit card or loan payments you are going to be asked what the limit is as well as the balance.
  • Assets. SCCU asks for details of four main assets you may have; real estate, automobile, household items and savings. You can also list any other asset you have in the other column.
  • Income. You will be asked for your net income given as a monthly, weekly, fortnightly or annual amount.
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This page was last modified on 13 September 2017 at 10:17am.

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