• Do I have to be a Credit Union member to take out a loan?
• How much can I borrow?
• How do I make repayments on the loan?
• How often will I receive information on my account?
• What security is required?
• Do I need to take out insurance on my vehicle?

Do I have to be a Credit Union member to take out a loan?

The Credit Union is a mutual financial services organisation and as such is owned by its members, each one of whom is a shareholder. Therefore you must be a member of the Credit Union to have a loan. Learn more about becoming a member. ^

How much can I borrow?

The minimum amount you can borrow is $1,000.  The maximum amount you can borrow is $50,000 for a vehicle up to 5 year old. The actual amount you can borrow is determined by your ability to meet the repayments of the loan.  Wish to calculate how much you could borrow?  Use our Loan Calculator. ^

How do I make repayments on the loan?

You can arrange to make your loan repayments either by payroll deduction, direct debit from your savings or transaction account, internet or telephone banking transfer. Learn more about these repayment methods. ^

How often will I receive information on my account?

Statements are produced three monthly. Duplicate statements can be requested at any time from our office. If you have Phoenix internet banking access you will receive statements every six months.

Account Balances and Statements are also available through our telephone and Internet banking services. ^

What security is required to take out a Car Loan?

We will take a Bill of Sale over your vehicle as security and this will be registered with REVS.^

Do I need to take out insurance on my vehicle?

If the credit union has taken security over your vehicle, you will be required to have the vehicle comprehensively insured. ^

More Information

Learn more about the benefits of our Car Loans
Use one of our Loan Calculators to work out what loan is right for you.

Apply

Apply for a Home Loan.

Questions?

If you have any questions, please conact us.