CUA Unsecured Personal Loan (Fixed)

Honestly this was my worst lending experience. I work in the same field but applied for personal loan through these guys and this was by far the worst experience, reason being, I was asked 3 types of contracts 2 being my employment contracts, my home loan being 1 of them, home loan statement, and my acceptance letter, on top of my employment letter. I was asked for 3 payslips, and they wanted a loan approval letter for a loan I haven't got yet, this process took a week and half and they said dont proceed with the application if you don't have your future loan loan letter. Being in same line of work I found this to be the worst experience and un-logical, during the process I was told our policies are different to yours, asking for a document for something I don't have has nothing to do with policy.

CUA is very helpful and are willing to look at other products which will work better for what we were looking to do. Their staff are all very helpful in each of the branches I have gone into. The only negative is they have shut down to many of the branches and ATMs.

I have a full-time secure government job earning good money. Got conditional approval but when consultant called to confirm everything, I was instantly declined. It was more of an interrogation than chat and his accent was so bad I had to ask him to repeat nearly everything! Waste of credit check which has now dropped my score!

The staff were polite and helpful. The product was explained in detail. The application process was smooth!

Great Competitive Rates and Features on CUA’s unsecured personal loan. 9.89% compared to others providing for 11.90- 14.90%. I bank with CBA but their personal loan was 11.90% and had less features such as no fee payout anytime, no monthly fees, free redraw on fixed loans. The process for applying for this loan was horrendous. Have dealt with the Big 4's subsidiaries such as Bankwest and in the past and I am used to speedy responses and great customer service. Loan approval should not take greater than 2 days! CUA takes 16 days! Cua was a surprise! A simple personal loan with great credit history took more than 2 weeks. Their lenders leave you in the dark on what is actually going on, and never ever call you back even though they say they will. Some statements about apps going to assessors and documents required. I furnished all docs as required within minutes of request. Then I was sent on a mystery wait for days. I think they just either have too much to do or don't bother to speed up the process whatsoever. In hindsight, i went back on the CUA website and they do not state a processing time for this very reason. Could take half a month or a month. Who knows? Only a CUA insider can tell us why they are so slow in processing simple personal loans. I have received a $1.2M home loan in under 2 days from CBA with less mucking around & less docs. They are hell nervous and risk averse in my perception. Due to the great rates, i was forced to bite the bullet and put up with this horrid service while the loan was processing. On certain instances the lender had no clue what he told me just a few days back that he would call me by a certain time and provide approval docs. 2 days post this appointment, i had to chase up yet again. Lender says again it is with the assessor not realising what he said last time. Quite unprofessional and under experienced lenders i think. If you are in no rush and willing to wait it out, then this may be just for you.