• 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 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 $25,000.  In all circumstances our personal loans are limited by your ability to meet your repayments.  Wish to calculate how much you could borrow?  Use one of our Loan Calculators. ^

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, at the Phoenix Credit Union office or by a direct debit from another financial institution.^

How often will I receive information on my account?

Statements are produced six monthly or more frequently on request.  Duplicate statements can be requested at anytime from our office.

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

What security is required to take out a Personal Loan?

The security required will depend upon your individual circumstances.  An Example of the type of security we may require is a Bill of Sale over an asset such as a motor vehicle. ^

More Information

Read more about the benefits of a Personal Loan
Use one of our Loan Calculators to work out what loan is right for you.

Apply

Apply for a Personal Loan.

Questions?

If you have any questions, please contact us.