Transport Mutual Credit Union personal loans

Since its establishment in 1964, Transport Mutual Credit Union (previously the RTA Staff Credit Union - RSCU) has grown to offer an extensive range of financial products and services. Initially for transport industry members only, Transport Mutual Credit Union now welcomes members from all employment backgrounds across Australia. 

Transport Mutual Credit Union offers a variety of financial products providing competitively priced home and personal loans, day to day transaction accounts, term deposits and financial advice. Read on to find out more... 

Transport Mutual Credit Union offers the following personal loans

Rates and fees verified as correct at 24 July 2024. Other information correct at the time of writing. Advertiser disclosure.
Product Interest rate from Comparison rate from Upfront fee
Credit Card Crusher (Variable, Unsecured)

11.89% p.a.

12.18% p.a.based on $30,000
over 5 years

$195.00

FastRoad New Car Loan (up to 5 years old) (Variable)

7.14% p.a.

7.45% p.a.based on $30,000
over 5 years

$220.00

FastRoad Used Car Loan (over 5 years old) (Variable)

9.14% p.a.

9.46% p.a.based on $30,000
over 5 years

$220.00

GreenRoad - Hybrid & Electric Cars (Variable)

6.89% p.a.

7.20% p.a.based on $30,000
over 5 years

$220.00

Travel Loan (Unsecured, Fixed)

11.64% p.a.

11.92% p.a.based on $30,000
over 5 years

$195.00

Unsecured Personal Loan (Variable)

11.14% p.a.to 15.25% p.a.

11.43% p.a.to 15.55% p.a.based on $30,000
over 5 years

$195.00

What personal loans does Transport Mutual Credit Union offer? 

Unsecured Personal Loan 

Transport Mutual Credit Union offers an unsecured personal loan product that comes with a variable rate and allows customers to borrow up to $30,000. The loan can be paid back over 1 to 7 years and there is the choice of a weekly, fortnightly or monthly repayment schedule. Plus, extra repayments and redraws are also available, and for customers that pay down their entire loan ahead of time there are no break costs. 

There are also no ongoing monthly service or exit fees attached to this loan, just keep in mind there is a one-off application charge straight off the bat. 

Car Loan

The Transport Mutual Credit Union car loan can be used for new or used vehicles. Like the personal loan option, this product comes with a variable interest rate. For cars under 3 years old the interest rate is lower than that of cars over 3 years old. Plus, the upfront application fee is slightly higher for cars older than 3 years. 

This car loan allows customers to borrow anywhere upwards of $5,000 to purchase a car. Loan terms range from 1 to 7 years and can be paid back on a weekly, fortnightly or monthly basis. Extra repayments and redraws are also allowed, plus there is no ongoing monthly, exit or early repayment charges. 

There is also a green loan car option available too. 

Transport Mutual Credit Union won a 2021 Mozo Experts Choice Award in the Best Car Loan category. 

Travel Loan 

If a travel loan is what you are after, Transport Mutual Credit Union has one that might suit what you need. It is a shorter loan (between 1 and 2 years) and can go up to $30,000 to cover travel costs. It is unsecured meaning you do not need to put up assets as collateral.

Repayments can be made weekly, fortnightly or monthly and there is the option to make extra repayments too. Just bear in mind there is no redraw facility attached to this loan option. When it comes to fees there are no ongoing monthly service fees, exit or break costs, but there is a one-off application charge. 

Credit card debt consolidation

For customers looking to clear credit card debt, Transport Mutual Credit Union offers up a product that is designed to help borrowers do so at a lower variable interest rate. Loans go up to $30,000 and terms range from 1 to 5 years. 

Like the unsecured personal loan option, there are a bunch of repayment schedule options and extra repayments and redraws. Like on all Transport Mutual Credit Union personal loans there are minimal fees to worry about - just remember the upfront application cost. 

Transport Mutual Credit Union personal loan features at a glance 

  • Repayment schedule options: On all Transport Mutual Credit Union personal loans, weekly, fortnightly or monthly repayments are accepted.  

  • Extra repayments: Customers have the option to make extra repayments on their Transport Mutual Credit Union personal loan whenever they like. 

  • Redraw facility: Most Transport Mutual Credit Union personal loans also come equipped with a redraw facility. This allows customers to access their additional contributions later on if they need to.  

  • No early repayment penalty: Unlike some personal loans, Transport Mutual Credit Union personal loans don’t have an early repayment penalty or “break cost” for borrowers that pay down their entire loan ahead of time.  

How do you apply for a Transport Mutual Credit Union personal loan? 

Applying for a Transport Mutual Credit Union can be done online, or you can speak to a representative on the phone if you need assistance. 

There are a few things you’ll need to have when you apply for a personal loan: 

  • 3 recent payslips 

  • Proof and source of income 

  • Recent home loan or other loan statements 

  • Recent credit or store card statements 

  • Current rental lease (if applicable) 

  • 3 months worth of everyday banking statements

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