8.3 / 10

based on 254 reviews as rated by Mozo community

Credit Union SA home loans

Credit Union SA is the product of a merger between former credit unions Satisfac and Powerstate. Both those organisations were known for their specialist local knowledge - going to the bank was as familiar and comfortable as going down to your local for a quick one. Now South Australia’s third largest credit union, this customer owned banking alternative is carrying on their legacy by funnelling profits right back into their South Australian based membership.

What home loans do Credit Union SA offer?

Rates and fees verified as correct at 29 October, 2020. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

Struggling to save up a deposit for your home loan? With the fixed rate home loan option from Credit Union SA, you can stop worrying, because you can borrow amounts starting at $20,000, with an LVR of 97% if you’re living in the property, or 90% if you’re an investor. But keep in mind you’ll need to budget for both an application and settlement fee. As far as features go, you’ll be able to make free extra repayments up to $10,000 each year, and redraw those funds, although a minimum amount does apply. And if you can’t decide between the certainty of a fixed rate and the flexibility of a variable rate, then why not split your loan between the two?

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments ‡

3.84% p.a.

4.71% p.a.

$0.00

$750

3.19% p.a.

4.21% p.a.

$0.00

$750

3.79% p.a.

4.88% p.a.

$0.00

$750

3.59% p.a.

4.64% p.a.

$0.00

$750

Variable Rate Home Loans

Like the fixed rate alternative, the variable rate home loan offer from Credit Union SA is available for amounts starting at $20,000, up to 97% of the property’s value for owner occupiers and 90% for investors. You’ll only pay a settlement fee if you opt for the Discount Home Loan offer, but there’s also an application fee for the standard option. In terms of flexibility, you’ll have the option to choose between an interest only or principal and interest loan, plus choose to make monthly, fortnightly or weekly repayments. You’ll also get the ability to make unlimited fee-free extra repayments and redraws, but keep in mind a minimum redraw amount applies.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments ‡

4.25% p.a.

4.27% p.a.

$0.00

$150

3.80% p.a.

3.82% p.a.

$0.00

$150

3.19% p.a.

3.21% p.a.

$0.00

$150

2.59% p.a.

2.61% p.a.

$0.00

$150

4.95% p.a.

5.01% p.a.

$0.00

$750

4.50% p.a.

4.56% p.a.

$0.00

$750

4.50% p.a.

4.52% p.a.

$0.00

$150

4.25% p.a.

4.27% p.a.

$0.00

$150

3.19% p.a.

3.21% p.a.

$0.00

$150

2.59% p.a.

2.61% p.a.

$0.00

$150

5.20% p.a.

5.26% p.a.

$0.00

$750

4.95% p.a.

5.01% p.a.

$0.00

$750

Fixed Package Home Loan

Opt for the fixed rate home loan package from Credit Union SA and you won’t pay any upfront fees - but the trade-off is a yearly service fee. Owner occupiers can borrow up to 97% of the property’s value on this loan, while investors can snag up to 90%, starting from $100,000 for each. The fixed rate options enable you to make free extra repayments up to the value of $10,000 each year, and free redraws (minimum amount does apply). And it doesn’t stop there! With the package home loan option, you’ll save heaps on other Credit Union SA products with a waived annual fee on credit cards, no transaction or monthly access fees on transaction accounts and discounted rates on personal loans.

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments ‡

3.64% p.a.

4.19% p.a.

$395.00 yearly

$0

2.99% p.a.

3.63% p.a.

$395.00 yearly

$0

2.39% p.a.

3.48% p.a.

$395.00 yearly

$0

3.59% p.a.

4.25% p.a.

$395.00 yearly

$0

3.39% p.a.

4.06% p.a.

$395.00 yearly

$0

2.69% p.a.

4.02% p.a.

$395.00 yearly

$0

2.49% p.a.

3.82% p.a.

$395.00 yearly

$0

Variable Package Home Loan

Bundle your home loan with other Credit Union SA products in a variable rate home loan package, to enjoy great perks like waived transaction or monthly fees on your everyday bank account, no annual fee on your credit card, and discounted personal loan rates. Credit Union SA’s variable rate home loan package is similar to its fixed rate counterpart. It’s available for amounts starting at $100,000, up to 90% of the property’s value for investors, and 97% for buyers wanting to live in the home. You'll pay a yearly service fee, but in exchange, you’ll get great flexible features, like unlimited free extra repayments and redraws (minimum amount applies), plus, with the package option, you’ll get the use of an offset account to keep interest costs low.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments ‡

3.84% p.a.

4.24% p.a.

$395.00 yearly

$0

3.29% p.a.

3.70% p.a.

$395.00 yearly

$0

3.19% p.a.

3.60% p.a.

$395.00 yearly

$0

2.59% p.a.

3.02% p.a.

$395.00 yearly

$0

3.94% p.a.

4.34% p.a.

$395.00 yearly

$0

3.74% p.a.

4.14% p.a.

$395.00 yearly

$0

3.19% p.a.

3.60% p.a.

$395.00 yearly

$0

2.59% p.a.

3.03% p.a.

$395.00 yearly

$0

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.

Credit Union SA home loan features in a glance

Free icon

Low deposit

With a maximum LVR of 97% for owner occupiers and 90% for investors, borrowers struggling to come up with a 20% deposit will love Credit Union SA’s home loans.

Repayment Icon

Unlimited extra repayments

Pay your mortgage off faster by making fee-free extra repayments! Just keep in mind that while additional repayments are unlimited on variable rate options, they’re capped at $10,000 p.a. on fixed rate offers. Plus, repaying an entire fixed rate loan before the term is up may incur early break fees - so budget carefully!

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Free redraw

If you’ve been making good use of the free extra repayments feature on your Credit Union SA home loan but then find you need some of those funds back in your pocket, you can redraw them at any time. Just keep in mind that a minimum redraw amount applies on all loans.

Free icon

Package benefits

Be rewarded when you bundle all your products in a home loan package. You can enjoy waived annual fees on your credit card and monthly fees on your bank account, plus discounted rates on personal loans.

How are Credit Union SA home loans rated?

Mozo users have rated Credit Union SA home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
Credit Union SA home loans
Overall
8.6/10
Price
Features
Customer service
Convenience
Trust

17 Reviews

Recent Credit Union SA home loan reviews

Credit Union SA Home Loan review
Overall 9/10
Excellent Customer Service

Credit Union SA have been Amazing, they clearly explained all the product features, and the benefits off the off-set account. The service has been exemplary, and the fee structure is so much lower than the major banks. The Staff at Edwardstown branch have always bent over backwards to ensure I get the best service possible.

Read full review

Credit Union SA have been Amazing, they clearly explained all the product features, and the benefits off the off-set account. The service has been exemplary, and the fee structure is so much lower than the major banks. The Staff at Edwardstown branch have always bent over backwards to ensure I get the best service possible.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
5/10
Trust
10/10
Less
Wayde, South Australia reviewed 2 months ago
Credit Union SA Home Loan review
Overall 9/10
Excellent customer service.

Credit Union SA have been an excellent provider, really easy to work with, provide regular updates on any changes, and at the time I took out the loan, had a feature that no other lender had. This 100% offset, with no annual fee has saved me thousands already

Read full review

Credit Union SA have been an excellent provider, really easy to work with, provide regular updates on any changes, and at the time I took out the loan, had a feature that no other lender had. This 100% offset, with no annual fee has saved me thousands already

Price
8/10
Features
10/10
Customer service
10/10
Convenience
6/10
Trust
10/10
Less
Wayde, South Australia reviewed 6 months ago
Credit Union SA Home Loan review
Overall 10/10
Excellent, efficient and reliable customer service

Brilliant quick response. Can go into a branch and speak to someone about home loan with short break. Respond to emails quickly.

Read full review

Brilliant quick response. Can go into a branch and speak to someone about home loan with short break. Respond to emails quickly.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Melanie, South Australia reviewed 6 months ago
Credit Union SA Variable Rate Home Loan review
Overall 10/10
Great

The staff are friendly and will help with all your questions.

Read full review

The staff are friendly and will help with all your questions.

Price
8/10
Features
8/10
Customer service
10/10
Convenience
9/10
Trust
10/10
Less
Anne, South Australia reviewed almost 5 years ago
Credit Union SA Home Loan review
Overall 8/10
Good

Good

Price
7/10
Features
7/10
Customer service
8/10
Convenience
7/10
Trust
7/10
Less
Jatinder, South Australia reviewed over 5 years ago

What do you need to apply for a Credit Union SA home loan?

Credit Union SA is all about being local and approachable - which is a good thing, because to apply for a home loan, you’ll have to call, head into a branch or put in an online enquiry to have them call back; there’s no online application available.

When you apply, it’s a good idea to have a few things on hand, like:

  • Your personal details
  • Contact details
  • Income details and proof of salary
  • Statements for any existing loans or debts
  • A copy of your driver's licence or passport for I.D.

Home loan quick links