8.8 / 10

based on 433 reviews as rated by Mozo community

Community First Credit Union personal loans

Want to be a member of and borrow from an organisation that’s been responsibly handling money since 1959?

Community First Credit Union is the largest community based credit union operating throughout the Sydney and Central Coast region. It’s a member owned institution, which means there’s no need to pay large dividends to shareholders - instead it’s focused on delivering great value to its members.

Read on for a rundown of Community First personal loans.

Community First Credit Union offers the following personal loans

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

Product Interest rate from Comparison rate from Upfront fee
Car Loan (Up to 5 years old, Fixed, Secured)

7.49% p.a.

8.26% p.a.based on $30,000
over 5 years

$295

Green Loan (up to 10 years, Variable, Unsecured)

7.99% p.a.

8.27% p.a.based on $30,000
over 5 years

$195

Green Loan (up to 5 years, Variable, Unsecured)

5.99% p.a.

6.26% p.a.based on $30,000
over 5 years

$195

Home Improvement Loan (up to 10 years, Variable, Unsecured)

7.99% p.a.

8.27% p.a.based on $30,000
over 5 years

$195

Home Improvement Loan (up to 5 years, Variable, Unsecured)

5.99% p.a.

6.26% p.a.based on $30,000
over 5 years

$195

New Car Loan - Variable (Secured)

5.34% p.a.

6.11% p.a.based on $30,000
over 5 years

$295

Personal Loan (Fixed, Unsecured)

11.99% p.a.

12.28% p.a.based on $30,000
over 5 years

$195

Personal Loan (Variable, Unsecured)

11.99% p.a.

12.28% p.a.based on $30,000
over 5 years

$195

WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. 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.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

Overview of Community First Credit Union personal loans

New car loan

Got your eye on a brand new set of wheels but don’t have the lump sum saved up just yet? A new car loan from Community First Credit Union could be the solution. It’s a secured loan, which means the car you’re buying will be put up as security against the amount you borrow, and you can choose between the certainty of a fixed rate or the flexibility offered by a variable rate loan. In terms of features, you’ll have the option to make extra repayments on your loan and the use of a redraw facility. Just remember that if you opt for the fixed rate offer and pay the entire loan off before the term is up, there’ll be an early repayment penalty. Also, make sure you budget for the upfront application and small monthly service fee.

Unsecured personal loan

Whether you’re buying a boat, going on holiday or consolidating debt, a personal loan will let you get your hands on the necessary funds. An unsecured loan from Community First Credit Union is a good option if you don’t have any assets to put up as security, and you’ll be able to choose between a flexible variable rate or a secure fixed rate. There’s an upfront application fee to budget for, but no ongoing fees, and you’ll get the chance to make free extra repayments and use a redraw facility. You can borrow between $5,000 and $35,000, and pay it back over a term ranging from 1 - 5 years.

Community First Credit Union personal loan features at a glance

Extra repayments: Pay off your loan quicker and save on interest by making free extra repayments. You can make as many of these additional repayments as you like - but remember, if you chose a fixed rate loan, there’ll be a penalty fee for repaying your entire loan before the term is up.

Redraw facility: Went a little crazy with your extra repayments and need some of that cash back? You’ll have use of a redraw facility with loans from Community First Credit Union, so you can get your extra funds back if you need to.

Flexible repayment schedule: Choose to make your repayments monthly, fortnightly or weekly - whatever will suit your budget schedule.

Fees: Remember to budget for an upfront application fee if you’re taking out a personal loan with Community First. And if you’re after the new car loan, don’t forget to factor in the small monthly service fee as well.

How to apply

Are you sold on a Community First Credit Union personal loan? Then the next thing you’ll want to know is how to apply. You can apply for a loan if you:

When you go to apply, you’ll need to supply your personal details, like address, phone number and email, as well as details about your finances, including your income, assets and debts.


How are Community First Credit Union personal loans rated?

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

Icon of personal-loans
Community First Credit Union personal loans
Overall
7.4/10
Price
Features
Customer service
Convenience
Trust

13 Reviews

Recent Community First Credit Union personal loan reviews

Community First Credit Union Personal Loan review
Overall 8/10
Great service and competitive rates

The team at CFCU made the loan application process easy and efficient, and I spoke to the same person from start to end. There is also a redraw facility on the car loan with a competitive interest rate.

Read full review

The team at CFCU made the loan application process easy and efficient, and I spoke to the same person from start to end. There is also a redraw facility on the car loan with a competitive interest rate.

Price
7/10
Features
9/10
Customer service
10/10
Convenience
5/10
Trust
10/10
Less
Scott, New South Wales reviewed about 1 year ago
Community First Credit Union Personal Loan review
Overall 7/10
Peoples bank

Great community bank who understands local businesses and local people

Read full review

Great community bank who understands local businesses and local people

Price
6/10
Features
7/10
Customer service
9/10
Convenience
8/10
Trust
7/10
Less
Toa , reviewed almost 6 years ago
Community First Credit Union New Car Loan (Fixed) review
Overall 4/10
Not bad

Not bad

Price
5/10
Features
5/10
Customer service
5/10
Convenience
5/10
Trust
7/10
Less
Isaac, reviewed almost 6 years ago
Community First Credit Union Personal Loan review
Overall 9/10
Green loan 6.12% WOW

Green loan = more money for me. At 6.12% this meant I was saving more electricity with my solar panels than I was paying in repayments. No ongoing fees and the friendliest staff I have dealt with at a financial institution. Seriously no catches. What a brilliant idea and a great way to help save the environment. Well done community first credit union.

Read full review

Green loan = more money for me. At 6.12% this meant I was saving more electricity with my solar panels than I was paying in repayments. No ongoing fees and the friendliest staff I have dealt with at a financial institution. Seriously no catches. What a brilliant idea and a great way to help save the environment. Well done community first credit union.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
6/10
Trust
10/10
Less
Robert, reviewed about 6 years ago

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