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Do I have to be a credit union member to take out a loan?  How much can I borrow? How do I make repayments on the loan? How often will I receive information on my account? What security is required? Do I need to take out insurance?

Personal Loans Key Features Benefits FAQs

Do I have to be a credit union member to take out a loan?
The credit union is a mutual financial services organisation and as such is owned by its members, each one of whom is a shareholder. Therefore you must be a member of the credit union to be approved for a loan.

Eligibility to join is exclusive to employees and members of their families, of Alcoa of Australia, Portland Aluminium, Alcoa Kaal Australia or their subsidiaries or of a contractor to one of these companies.  Learn more about membership. ^

How much can I borrow?
The minimum amount you can borrow with both a secured and unsecured variable rate personal loan is $1,000. The maximum amount you can borrow is limited to $50,000 or by your ability to meet your repayments. Wish to calculate how much you could borrow? Use our Loan Calculator. ^

How do I make repayments on the loan?
You can arrange to make your loan repayments either by payroll deduction, direct debit from your savings or transaction account, Internet or Phone Banking transfer, over the counter at our branches or using giroPost. ^

How often will I receive information on my account?
Statements are issued quarterly. Duplicate statements can be requested at any time from our branches at no cost.

Account Balances and Statements are also available through our Internet and phone banking services. ^

What security is required to take out a Personal Loan?
The security required will depend upon your individual circumstances. Examples of the type of security we may require is a Goods Mortgage/Bill of Sale over an asset such as a motor vehicle. A fee is payable where this is required.^

Do I need to take out insurance?
In circumstances where we take a Goods Mortgage/Bill of Sale over an asset it will be necessary to keep this asset insured. ^

Decided which loan is right for you?

Apply using our simple online Personal Loan application Form.

Want to know more?

Get in touch with one our friendly staff - we'd be happy to answer any questions you may have.

Use our Loan Calculator.