based on 80 Illawarra Credit Union banking product reviews as rated by Mozo community

Illawarra Credit Union personal loans

If you are thinking of taking out a personal loan and want an alternative to a big bank, Illawarra Credit Union has a range of low cost loans to help ‘make the things you want, the things you have.’ Anyone can join Illawarra Credit Union to take advantage of their great rates. 

Illawarra Credit Union also snapped up an award in the 2022 Mozo Experts Choice Awards. You can compare its loans side by side here or you can head over to our full personal loan comparison section to compare its loan with all other loan providers in our database.

Illawarra Credit Union offers the following personal loans

Rates and fees verified as correct at 03 December, 2021. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
Green Car Loan (Variable)

3.99% p.a.

5.15% p.a.based on $30,000
over 5 years

$200

Green Eco Loan (Variable, Unsecured)

3.99% p.a.

5.15% p.a.based on $30,000
over 5 years

$200

Online Personal Loan Package (Variable, Secured)

5.25% p.a.

5.89% p.a.based on $30,000
over 5 years

$200

Secured Fixed Personal Loan (New)

5.60% p.a.

5.88% p.a.based on $30,000
over 5 years

$200

Secured Fixed Personal Loan (Used)

5.64% p.a.

5.92% p.a.based on $30,000
over 5 years

$200

Unsecured Fixed Personal Loan

9.75% p.a.

10.04% p.a.based on $30,000
over 5 years

$200

What personal loans does Illawarra Credit Union offer?

Secured Personal Loan 

Illawarra Credit Union offers a variable rate secured personal loan option: its Online Personal Loan Package. This particular product is part of a package, meaning it includes other financial products and a bunch of handy features. And it's award-winning! It snapped up a 2021 Mozo Experts Choice Award for best Secured Personal Loan. 

With this loan, customers can borrow from $10,000 to $100,000 over 1 to 5 years. Plus, borrowers can choose a weekly, fortnightly or monthly repayment schedule as well as make extra repayments and redraws. To be eligible for this loan, Illawarra Credit Union requires applicants to meet all of the Package Agreement requirements. This includes holding an offset account (no fees attached), an Illawarra Credit Union visa debit card and being registered for online statements and internet banking. 

If you qualify, you could benefit from low rates and no exit fees or early repayment penalty if you pay down your debt ahead of time. There are some fees to be mindful of though - such as the upfront application cost and ongoing service charge. 

Unsecured Personal Loan 

Looking for an unsecured option instead? Illawarra Credit Union has that option too! Its Unsecured Personal Loan comes with a fixed interest rate and allows customers to take out between $2,000 and $50,000. Loan terms range from 1 to 5 years. 

When it comes to paying down the debt you owe, there are plenty of options with this loan. Choose from weekly, fortnightly or monthly regular repayments, plus there are free extra repayments and a redraw facility. While there are no ongoing service fees, exit costs or an early repayment penalty to pay, there is an upfront application cost to budget for. 

Car Loan  

Whether it's to fund the purchase of a new or used car, Illawarra Credit Union may have the car loan option for you. With this fixed rate car loan option, loan amounts range from $10,000 to $100,000 and loan terms span from 1 to 5 years. 

Like the loan mentioned above, repayments are flexible with Illawarra Credit Union’s new and used car loan options. There is the choice of weekly, fortnightly or monthly repayments as well as the ability to make extra repayments and redraws at no additional cost. And on the topic of costs, there are minimal fees on this loan. Illawarra Credit Union doesn’t charge ongoing service, exit or early repayment charges on this loan - just be mindful of the application cost straight off the bat. 

For its used car option Illawarra Credit Union won a 2021 Mozo Experts Choice Awards for best Used Car Loan. 

Illawarra Credit Union personal loan features at a glance 

How do you apply for an Illawarra Credit Union personal loan?  

You’ll need to meet the Credit Union’s standard credit criteria to be approved for a loan. You’ll also need to be at least 18 years of age, be an Australian resident (with an Australian address), never have been bankrupt and have a regular PAYG income from an employer.

There is also some information that Illawarra Credit Union will ask when you apply, so make sure you have the following handy: 

How are Illawarra Credit Union personal loans rated?

Mozo users have rated Illawarra 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
Illawarra Credit Union personal loans
Overall
Price
Features
Customer service
Convenience
Trust

5 Reviews

Recent Illawarra Credit Union personal loan reviews

Illawarra Credit Union Personal Loan
Overall 10/10
Best service ever

Best Service ever

Read full review

Best Service ever

Price
10/10
Features
10/10
Convenience
10/10
Trust
10/10
Less
Karin, New South Wales, reviewed over 7 years ago
Illawarra Credit Union Personal Loan
Overall 10/10
Not a problem.

Had at least five loans without a hitch.

Read full review

Had at least five loans without a hitch.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Robert, New South Wales, reviewed about 8 years ago
Illawarra Credit Union Personal Loan
Overall 8/10
Great customer service and rates

Staff are helpful and friendly. Nothing is too big a problem

Read full review

Staff are helpful and friendly. Nothing is too big a problem

Price
6/10
Features
7/10
Customer service
8/10
Convenience
3/10
Trust
8/10
Less
Sandra, New South Wales, reviewed over 8 years ago
Illawarra Credit Union Personal Loan
Overall 9/10

easy to understand the products provided by this bank, honest friendly and professional attitude by the staff, a pleasure to do business with !! :)

Read full review

easy to understand the products provided by this bank, honest friendly and professional attitude by the staff, a pleasure to do business with !! :)

Price
9/10
Features
8/10
Customer service
9/10
Convenience
9/10
Trust
9/10
Less
Amanda, New South Wales, reviewed over 11 years ago

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