People's Choice Credit Union Offset Account

People's Choice Credit Union Offset Account

Fee Free Deposit


Account Keeping Fee


Get all the benefits of a flexible everyday account with the added bonus of interest saved on your home loan with People’s Choice.

  • 100% offset account
  • Make unlimited transactions
  • Ability to link a cheque book or overdraft facility

Product details

The Offset Account provides a solution to your daily banking needs, while working down the amount of interest paid on your home loan each month. This is a 100% offset, where every dollar in your account is counted towards the balance of your home loan before interest is applied. By reducing the amount of interest owed each month, more money goes towards the principal, allowing you to pay off the loan faster than you had hoped for.

Product Name
People's Choice Credit Union Offset Account
Monthly Account Fee
Debit Card Access
ATM Withdrawal Fee
Monthly administration fee applies and is applied to your home loan account on the last day of each month.
Fee Free Deposit p.m.
Overseas Eftpos Fee
Phone Banking
Internet Banking

What are the features of the People’s Choice Credit Union Offset Account?

While the main feature of an offset account is its effect on your home mortgage, it also functions as your everyday banking account. Before choosing this type of account, you should be comparing the various features across different financial institutions in order to find the one that will best meet your banking needs:

  • Offset amount. This is a 100% offset account, meaning that the entire balance in the account is offset against what you currently owe on your home loan.
  • Availability. You must be a member of People’s Choice Credit Union and have either a Standard Variable Rate Home Loan or Variable Rate Home Loan Package with them in order for this product to be available to you.
  • Monthly account keeping fee. $8 will be charged to your loan account on the last day of each month. If your offset account is not linked to a home loan the monthly account keeping fee will be $6 and charged to your applicable account on the last day of the month.
  • Available transaction methods. With no additional transaction fees charged to your account you can make unlimited, rediATM, EFTPOS, Visa debit card, direct debits, BPAY, branch, Bank@Post, online and telephone transactions.
  • Linked debit card. When applying for this account you will be given the choice between linking a rediATM or Visa debit card.
  • Visa debit card. The Visa debit card gives you the option of making purchases wherever Visa is accepted, except the money is drawn straight from your account rather than accruing interest. The card also has the Visa payWave feature, where you can make a purchase in person of less than $100 and not have to swipe your card or sign a receipt.
  • Additional options. You are able to link a cheque book facility or overdraft facility to this account.


  • Save on interest payments on your home loan
  • Linked Visa debit card
  • Phone, online and mobile banking


  • Need an eligible home loan

How do I apply for the People’s Choice Credit Union Offset Account?

You must first apply for membership into the credit union by visiting a branch and paying a refundable $2 fee for your membership share. You must also have a qualifying home loan with the credit union for which to link the account to. Other eligibility requirements follow, which you should read through first before you apply:

  • Minimum age. No age requirement is stipulated for the Offset Account.
  • Residency requirements. Australian temporary and permanent residents may apply for this account.
  • Depository requirements. There is no minimum opening deposit required for this account.

Documentation you may be asked for as applying for the People’s Choice Offset Account includes:

  • Tax file number. Providing your tax file number (TFN) or exemption code will help ensure that any deductions made on your interest holdings is done at the correct rate.
  • Identification. Acceptable forms of identification include your Australian passport, driver’s licence, Medicare card or employment visa and foreign passport.
  • Home loan information. You will be asked to provide your membership number along with your home loan account information in order to link the account and get the offset benefit.

After having completed your application it should be submitted online to People’s Choice for review. Once accepted you will be given your account number and instruction on how to begin using your new transaction account. The debit card that you have chosen will be mailed to the home address that you provided, and when received will need to be activated by following the instructions that accompany the card.


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