8.2 / 10

based on 158 Police Credit Union reviews as rated by Mozo community

Police Credit Union home loans

Founded in 1970, Police Credit Union is customer-owned which means its profits go back into providing better products and rates, including home loans. While the credit union was originally set up to serve police officers, anyone can now apply for a home loan with Police Credit Union. 

Plus, you can be confident in the quality of Police Credit Union home loans, knowing that it picked up a 2019 Mozo Experts Choice Award for best Investor Home Loan. 

What home loans do Police Credit Union offer?

Rates and fees verified as correct at 14 April, 2021. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

Police Credit Union offers the one fixed rate home loan product (which you can read more about in the links below) for both owner occupiers and investors, though an interest-only option is only available to investors. The loan allows borrowers to lock in competitive rates for 1-5 year terms with a minimum loan amount of $20,000 and maximum loan-to-value ratios (LVRs) between 80%-90%. Like most fixed loans features are on the light side, but you will have the option of making fee-free extra repayments of up to $20,000 per year. But keep in mind, this mortgage comes with a number of upfront fees. 

Home loan repayments calculator

years

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

2.39% p.a.

3.47% p.a.

$0.00

$767

1.99% p.a.

3.37% p.a.

$0.00

$767

2.59% p.a.

3.61% p.a.

$0.00

$767

2.39% p.a.

3.47% p.a.

$0.00

$767

1.99% p.a.

3.37% p.a.

$0.00

$767

Variable Rate Home Loans

Borrowers looking for a variable rate home loan option will have two choices with Police Credit Union: the Standard Variable Home Loan and The Better Home Loan. The Standard Variable Home Loan gives borrowers the chance to take out a loan with a lower deposit (as little as 5%) while The Better Home Loan has a higher deposit requirement of at least 20% but a lower variable rate. Both have flexible features on offer including unlimited extra repayments, a redraw facility (fees apply) and the use of an offset account. There are application, legal and valuation fees to consider with both variable loans though. For greater details, check out the linked reviews below. 

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments

3.77% p.a.

3.82% p.a.

$0.00

$767

2.69% p.a.

2.74% p.a.

$0.00

$767

2.69% p.a.

2.74% p.a.

$0.00

$767

4.29% p.a.

4.34% p.a.

$0.00

$767

2.99% p.a.

3.02% p.a.

$0.00

$767

2.99% p.a.

3.02% p.a.

$0.00

$767

2.99% p.a.

3.04% p.a.

$0.00

$767

2.69% p.a.

2.74% p.a.

$0.00

$767

Police Credit Union home loan features in a glance

Image of coins

Free additional repayments

Make extra contributions towards your home loan for free in order to pay it offer faster and save on interest over the long run. Just remember that while the ability to make unlimited extra repayments is a feature available on both Police Credit Union variable rate offers, if you opt for a fixed rate loan your extra contributions will be capped at $20,000 per year. 

Offset icon

Offset account

Both Police Credit Union variable home loans come with the option for borrowers to stash their funds in an offset account to help cut down on interest. This feature isn't available with fixed rate loans though. 

Schedule icon

Flexible repayment schedule

Police Credit Union home loan customers will be able to match their repayments to their budget or pay cycle by choosing either monthly, fortnightly or weekly repayments.

How are Police Credit Union home loans rated?

Mozo users have rated Police Credit Union 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
Police Credit Union home loans
Overall
8.6/10
Price
Features
Customer service
Convenience
Trust

20 Reviews

Recent Police Credit Union home loan reviews

Police Credit Union Home Loan review
Overall 9/10
More than a credit union.

A bank / credit union that gives chances to people other banks won’t. People who work hard but the upfront costs other banks want they include in the loan so makes it easier for people to get into their own home sooner.

Read full review

A bank / credit union that gives chances to people other banks won’t. People who work hard but the upfront costs other banks want they include in the loan so makes it easier for people to get into their own home sooner.

Price
9/10
Features
8/10
Customer service
10/10
Convenience
10/10
Trust
9/10
Less
Rebecca, South Australia, reviewed 3 months ago
Police Credit Union Fixed Rate Home Loan review
Overall 8/10
Excellent customer service.

I like the Police Credit Union because they are to deal with and have top customer service. While there is not a lot of branches, it is easy to catch up with someone. When phoning with a question you can phone your branch directly and you get to speak to a person dealing with your loan.

Read full review

I like the Police Credit Union because they are to deal with and have top customer service. While there is not a lot of branches, it is easy to catch up with someone. When phoning with a question you can phone your branch directly and you get to speak to a person dealing with your loan.

Price
8/10
Features
3/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Michelle, South Australia, reviewed about 1 year ago
Police Credit Union Home Loan review
Overall 10/10
Competitive premiums and awsome customer service

I have been banking with them for over 30 years. Have always been happy dealing with them.

Read full review

I have been banking with them for over 30 years. Have always been happy dealing with them.

Price
9/10
Features
9/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Melinda, Northern Territory, reviewed over 5 years ago
Police Credit Union Home Loan review
Overall 9/10
Very helpful and knowledgable staff.

Most accommodating and friendly staff. Always willing to give a competitive quote on any product that one may wish to purchase.

Read full review

Most accommodating and friendly staff. Always willing to give a competitive quote on any product that one may wish to purchase.

Price
6/10
Features
7/10
Customer service
10/10
Convenience
8/10
Trust
10/10
Less
Peter, South Australia, reviewed over 5 years ago
Police Credit Union Home Loan review
Overall 6/10
Worth a look

Definitely worth checking out, they have great deals from time to time.

Read full review

Definitely worth checking out, they have great deals from time to time.

Price
5/10
Features
5/10
Customer service
8/10
Convenience
8/10
Trust
6/10
Less
Ben, Northern Territory, reviewed over 5 years ago

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

Membership with Police Credit Union is open to everyone - not just law enforcement. But you will have to become a member before getting your hands on a home loan which you can do by going into a branch, or calling Police Credit Union’s customer service team.

When you apply for your home loan (which you can start online, over the phone or in a branch), make sure you’ve got the following details prepared:

  • Your personal and contact details
  • Your employment details, including two recent payslips, your rental agreement or family tax statement
  • A list of your assets, including six months of statements from your savings or transaction account
  • A list of your liabilities, including a full statement from any credit cards, overdrafts or personal loans

Home loan quick links