based on 82 Southern Cross Credit Union product reviews as rated by Mozo community

Southern Cross Credit Union home loans

Established in 1966, Southern Cross Credit Union has been meeting the banking needs of the Northern Rivers community of New South Wales for over 50 years. The credit union offers a range of home loan options for all types of borrowers, including a number of former Mozo Experts Choice Award winning loans. To find out more about the variable and fixed home loans available with Southern Cross Credit Union, including the interest rates, fees and features on offer, read on below. 

What home loans do Southern Cross Credit Union offer?

Rates and fees verified as correct at 28 March 2024. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

If you're looking for a bit of repayment certainty with your mortgage then a fixed rate home loan could be the option for you. The good news is that Southern Cross Credit Union has two fixed options on offer to owner occupiers and borrowers with a loan-to-value ratio (LVR) of 95% or below ,who are happy to lock in a 1-5 year fixed rate term. With the Standard Fixed Home Loan eligible borrowers can take out a loan between $10,000 and $250,000, while the Premium Home Loan (Fixed) is available on loan amounts above $250,000. Southern Cross Credit Union allows customers with either loan to make extra repayments for free (capped at $10,000) and to dip into them with a redraw facility (fees apply), and there are a number of one-off fees associated with both. It's worth bearing in mind that the Premium Home Loan (fixed) does come with a substantial ongoing service fee though.

Home loan repayments calculator

years

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

5.99% p.a.

6.21% p.a.

$0.00

$1,429

6.39% p.a.

6.69% p.a.

$0.00

$1,429

6.39% p.a.

7.04% p.a.

$0.00

$1,429

6.59% p.a.

6.88% p.a.

$0.00

$1,429

6.39% p.a.

6.47% p.a.

$0.00

$1,429

6.79% p.a.

6.94% p.a.

$0.00

$1,429

6.19% p.a.

6.41% p.a.

$0.00

$1,429

6.79% p.a.

7.30% p.a.

$0.00

$1,429

6.59% p.a.

7.24% p.a.

$0.00

$1,429

Variable Rate Home Loans

Southern Cross Credit Union offers even more choice in the way of variable rate home loans, with three options open to both owner occupiers and investors. The Basic Home Loan will likely be a good match for borrowers on the hunt for the lowest interest rate on loan amounts above $250,000, the Standard Home Loan could be a better fit for those wanting to take out a smaller loan (between $10,000 and $250,000), while the Premium Home Loan  will be suited to anyone wanting an offset account with a loan above $250,000. Each loan is available to borrowers with a deposit as low as 5%, and they all feature extra repayments and redraw facilities (fees may apply). Speaking of fees, there are a number of one-off upfront fees to weigh up with each loan, but for more details on those and much more check out the linked reviews below. 

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments

6.23% p.a.

6.28% p.a.

$0.00

$1,429

6.73% p.a.

6.78% p.a.

$0.00

$1,429

7.23% p.a.

7.28% p.a.

$0.00

$1,429

7.23% p.a.

7.12% p.a.

$0.00

$1,429

6.73% p.a.

6.62% p.a.

$0.00

$1,429

6.93% p.a.

6.98% p.a.

$0.00

$1,429

6.43% p.a.

6.48% p.a.

$0.00

$1,429

7.73% p.a.

7.62% p.a.

$0.00

$1,429

7.43% p.a.

7.49% p.a.

$0.00

$1,429

Southern Cross Credit Union home loan features in a glance

Offset icon

Offset account

Borrowers looking to take advantage of the benefits of a 100% offset account will be pleased to know that Southern Cross Credit Union offer one as a feature with the variable rate Premium Home Loan. 

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Low deposit options

Whether it's a fixed or variable rate home loan your looking for, Southern Cross Credit Union has a number of options available for owner occupiers and investors with lower deposits. That's because most of the credit unions loans come with a maximum loan-to-value ratio (LVR) requirement of 95% (meaning a minimum deposit of 5% is needed). Lenders Mortgage Insurance may be required for lower deposit borrowers though.

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Flexible repayment features

Want to make your repayments on a schedule that suits you? How about contributing additional money towards your loan to pay it off faster? Southern Cross Credit Union allows all of its mortgage customers to make their repayments on either a weekly, fortnightly or monthly basis, and each of its loans also allows extra repayments to be made (though fixed loans come with a limit). 

How are Southern Cross Credit Union home loans rated?

Mozo users have rated Southern Cross 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
Southern Cross Credit Union home loans
Overall
Price
Features
Customer service
Convenience
Trust

9 Reviews

Recent Southern Cross Credit Union home loan reviews

Southern Cross Credit Union Home Loan
Overall 1/10
Dont get trapped like i did

Difficulty discharging loan for over a month as the lender stalls and charges the interest that I should no longer be payIng. Not sure how long this will ever take or how this can occur. This is not really acceptable in a cost of living crisis. Been a loyal customer since mid 90’s with present lender on different products i finally realise i am paying way too much here and provider seems happy to keep it that way. Now I seem not to be able to change providers and get a better deal. Help! I am Questioning what “community “ based “banking” actually means So hard to get any action, answers or resolutions. I do not know this organisation anymore. In all fairness They were very good once with wonderful counter staff especially, but that time has passed. Ive referred matter to regulators.

Read full review

Difficulty discharging loan for over a month as the lender stalls and charges the interest that I should no longer be payIng. Not sure how long this will ever take or how this can occur. This is not really acceptable in a cost of living crisis. Been a loyal customer since mid 90’s with present lender on different products i finally realise i am paying way too much here and provider seems happy to keep it that way. Now I seem not to be able to change providers and get a better deal. Help! I am Questioning what “community “ based “banking” actually means So hard to get any action, answers or resolutions. I do not know this organisation anymore. In all fairness They were very good once with wonderful counter staff especially, but that time has passed. Ive referred matter to regulators.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Dunco, New South Wales, reviewed 7 months ago
Southern Cross Credit Union Home Loan
Overall 1/10
Worst Banking Around, Care about Their Customers

Worst ever bank I have ever dealt with. To much to go through but just be aware people that what they tell you is not always true and is defiantly misleading. The Morgage Broker I have gone through is outstanding however i will be going back to them to refinance away from Southern Cross Emoney is terrific to deal with and I am sure that they can get me what I need and that wont be staying with Southern Cross credit union

Read full review

Worst ever bank I have ever dealt with. To much to go through but just be aware people that what they tell you is not always true and is defiantly misleading. The Morgage Broker I have gone through is outstanding however i will be going back to them to refinance away from Southern Cross Emoney is terrific to deal with and I am sure that they can get me what I need and that wont be staying with Southern Cross credit union

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Stephen, Queensland, reviewed 8 months ago
Southern Cross Credit Union Home Loan
Overall 1/10
Lack customer focus and don't match market rates.

I had a sizeable home loan (over $500k) with Southern Cross Credit Union. When I queried why they were not matching market rates and passing on the full rate reductions, I was told to shop around and get something in writing from another provider to then provide to them and they would consider it! I did and moved on. Don't go there.

Read full review

I had a sizeable home loan (over $500k) with Southern Cross Credit Union. When I queried why they were not matching market rates and passing on the full rate reductions, I was told to shop around and get something in writing from another provider to then provide to them and they would consider it! I did and moved on. Don't go there.

Price
1/10
Customer service
1/10
Trust
1/10
Less
Robert, Queensland, reviewed over 3 years ago
Southern Cross Credit Union Basic Home Loan
Overall 2/10
I wouldn't recommend SCCU

They encouraged me to swap from Westpac because their rates were "so much better". They have passed on less than 35 percent of the reserve bank interest cuts and I had to beg for those. Don' t make the same mistake.

Read full review

They encouraged me to swap from Westpac because their rates were "so much better". They have passed on less than 35 percent of the reserve bank interest cuts and I had to beg for those. Don' t make the same mistake.

Price
2/10
Features
2/10
Customer service
6/10
Convenience
3/10
Trust
1/10
Less
Robyn, New South Wales, reviewed almost 4 years ago
Southern Cross Credit Union Standard Home Loan
Overall 4/10
I wouldn't recommend SCCU.

When we first moved to SCCU, I negotiated a very good rate and they promised us good rates and that they would look after us. Since then SCCU has absorbed for themselves well over 50 percent of the reserve bank interest rate reductions instead of passing them on to us. They don't seem to have any system whereby the rates are passed directly on to the customer. You have go call the BBC bank a week after the reserve bank cut to ask why your rate hasnt dropped. On one recent Reserve bank cut they passed on 0 percent of the cut to me. I would not recommend SCCU.

Read full review

When we first moved to SCCU, I negotiated a very good rate and they promised us good rates and that they would look after us. Since then SCCU has absorbed for themselves well over 50 percent of the reserve bank interest rate reductions instead of passing them on to us. They don't seem to have any system whereby the rates are passed directly on to the customer. You have go call the BBC bank a week after the reserve bank cut to ask why your rate hasnt dropped. On one recent Reserve bank cut they passed on 0 percent of the cut to me. I would not recommend SCCU.

Price
4/10
Features
5/10
Customer service
5/10
Convenience
8/10
Trust
3/10
Less
Robyn, New South Wales, reviewed almost 4 years ago

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

If you like what you see and you're interested in applying for a Southern Cross Credit Union home loan, you'll be able to do so over the phone with a home loan specialist or by walking into a branch. You may want to gather together some of the following information before you start though:

Home loan quick links