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CUA Home Loans

CUA (formerly Credit Union Australia) is one of the country’s largest customer-owned financial services companies.

Launched in 1940, CUA has grown to have a nationwide member base of over 400,000 customers. As a 100 per cent customer-owned institution, CUA reinvests its profits and passes the reduced fees and interest rates to its customers. CUA offers a wide range of products including bank accounts, credit cards, insurance and home loans.

At the 2016 Australian Retail Banking Awards CUA won ‘Mutual of the Year’ and in 2015 won Money Magazine’s ‘Best of the Best Gold Award’ in the Best Savings Account – Regular Deposits category. CUA was named ‘Member-Owned Bank of the Year 2015’ by the Financial Review Smart Investor’s Blue Ribbon Awards.

CUA Basic Variable Loan

The Basic Variable Loan from CUA gives customers the flexibility of paying off more of their loan when they can afford to and paying off less when they can’t. Interest-only repayments are a key benefit while this mortgage also offers free redraw and a choice of repayment schedules. Customers also have the ability to make as many additional repayments as they wish without incurring penalties. Specially designed for those with low deposits, the Basic Variable Loan allows customers to leverage the equity in their parents’ homes to guarantee their mortgage. Customers can borrow up to 95 per cent of a property’s value for a maximum of 30 years. It’s worth noting that this product charges fees at the beginning and end of the loan term.

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CUA Fixed Rate Loan

Ideal for those with low deposits CUA Fixed Rate Loan customers can borrow up to 95 per cent of a property’s value. Borrowers have the option of securing their mortgage by using their parents as guarantors. Customers can also choose to make interest only repayments if they wish. CUA’s Fixed Rate Loan lets customers fix their mortgage rate for between one and five years. After this period borrowers can choose between the Standard Variable Loan or the Discount Variable Rate Loan. The Fixed Rate Loan comes with a flexible repayment facility which allows borrowers to make additional repayments without incurring penalties. They can choose a weekly, fortnightly or monthly repayment schedule depending on their circumstances.

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CUA Premium Fixed Rate Loan

The Premium Fixed Rate Home Loan from CUA is similar to the Fixed Rate Home Loan as it allows customers to borrow up to 95 per cent of a property’s value. Customers can also fix their term for up to five years while enjoying premium benefits such as 100 per cent offset, free redraw and the flexibility to make additional repayments anytime. Depending on their circumstances customers can choose to make weekly, fortnightly or monthly repayments and interest only options are also available. Borrowers with low deposits or those looking for extra security will benefit from CUA allowing parents to act as guarantors. Customers can also enjoy free transactions on their CUA bank savings account.

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CUA Rate Breaker Package Loan

The Rate Breaker Package Loan is a combined package that enables customers to benefit from fee waivers across numerous products while receiving favorable rates on home loans. Customers can enjoy free redraw, 100 per cent offset and discounts on home, health and car insurance. Rate Breaker Package Loan customers can borrow up to 90 per cent of a property’s value on sums over $250,000. Well suited to owner-occupiers and first home buyers, CUA allows borrowers with low deposits to use a parent as guarantors for additional security. Flexible repayments mean borrowers can repay as much as they wish without incurring any fines. To quality for the Rate Breaker Package Loan customers must pay an annual fee.

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CUA Standard Variable Loan

CUA’s Standard Variable Loan was awarded Bronze in the Building Society 'Mortgage of the Year Awards’ in 2012. This CUA mortgage offers several key benefits including 100 per cent offset, redraw and the ability to reduce the home loan with an unlimited number of lump sum repayments. Borrowers can choose between interest only or principal and interest repayments and have the option of splitting their loan between fixed and variable after the initial term. Customers who choose this award-winning loan can borrow up to 80 per cent of a property’s value for a maximum of 30 years. Owner-occupiers and investors can enjoy relatively low fees once they have paid an up front establishment fee.

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CUA Equity Line of Credit Loan

The Equity Line of Credit Loan from CUA allows customers to borrow money against the equity they’ve built up in their home. Customers can access up to 80 per cent of the value of their property and can set their own repayment schedule to suit their needs. At the beginning of the term a limit will be set and borrowers will only be charged variable interest on the amount they borrow. Open to investors and owner-occupiers customers can seek additional security by using their parents as guarantors. While offset and redraw facilities are unavailable the Equity Line of Credit Loan has no maximum term and lets customers make unlimited additional repayments.

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CUA Fresh Start Variable Loan

Made for investors and owner-occupiers the Fresh Start Variable Loan from CUA allows customers to borrow up to 80 per cent of a property’s value. Borrowers can also benefit from additional features such as free redraw and offset. Borrowers can schedule their repayments monthly, fortnightly or weekly depending on their needs and can also choose between interest only or principal and interest options. CUA also allows its Fresh Start Variable Loan customers to make an unlimited amount of additional repayments giving them the flexibility to pay off their loan faster.

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Home Loans from CUA

Product
Advertised Rate
Comparison Rate
Monthly Repayment
Go To Site
Advertised Rate3.99%Variable
Comparison Rate4.04%
Monthly Repayment$1199over 30 years
Go To Site
Advertised Rate4.26%Variable
Comparison Rate4.27%
Monthly Repayment$1233over 30 years
Details
Advertised Rate4.49%Variable
Comparison Rate4.54%
Monthly Repayment$1273over 30 years
Details
Advertised Rate4.57%Variable
Comparison Rate4.58%
Monthly Repayment$1279over 30 years
Details
Advertised Rate4.62%Variable
Comparison Rate4.63%
Monthly Repayment$1286over 30 years
Details
Advertised Rate3.99%Fixed - 3 years
Comparison Rate4.64%
Monthly Repayment$1288over 30 years
Go To Site
Advertised Rate4.38%Fixed - 5 years
Comparison Rate4.68%
Monthly Repayment$1294over 30 years
Details
Advertised Rate4.21%Fixed - 3 years
Comparison Rate4.70%
Monthly Repayment$1297over 30 years
Details
Advertised Rate3.96%Fixed - 2 years
Comparison Rate4.71%
Monthly Repayment$1298over 30 years
Details
Advertised Rate4.37%Variable
Comparison Rate4.72%
Monthly Repayment$1300over 30 years
Details
Advertised Rate4.18%Fixed - 2 years
Comparison Rate4.75%
Monthly Repayment$1304over 30 years
Details
Advertised Rate4.60%Fixed - 5 years
Comparison Rate4.78%
Monthly Repayment$1309over 30 years
Details
Advertised Rate3.94%Fixed - 1 year
Comparison Rate4.78%
Monthly Repayment$1309over 30 years
Details
Advertised Rate4.16%Fixed - 1 year
Comparison Rate4.80%
Monthly Repayment$1312over 30 years
Details
Advertised Rate4.78%Variable
Comparison Rate4.83%
Monthly Repayment$1316over 30 years
Details
Advertised Rate4.67%Variable
Comparison Rate5.01%
Monthly Repayment$1344over 30 years
Details
Advertised Rate4.39%Fixed - 3 years
Comparison Rate5.05%
Monthly Repayment$1350over 30 years
Details
Advertised Rate4.78%Fixed - 5 years
Comparison Rate5.09%
Monthly Repayment$1356over 30 years
Details
Advertised Rate4.61%Fixed - 3 years
Comparison Rate5.11%
Monthly Repayment$1359over 30 years
Details
Advertised Rate4.36%Fixed - 2 years
Comparison Rate5.11%
Monthly Repayment$1359over 30 years
Details
Advertised Rate4.58%Fixed - 2 years
Comparison Rate5.15%
Monthly Repayment$1365over 30 years
Details
Advertised Rate5.00%Fixed - 5 years
Comparison Rate5.18%
Monthly Repayment$1370over 30 years
Details
Advertised Rate5.14%Variable
Comparison Rate5.19%
Monthly Repayment$1371over 30 years
Details
Advertised Rate4.34%Fixed - 1 year
Comparison Rate5.19%
Monthly Repayment$1371over 30 years
Details
Advertised Rate4.56%Fixed - 1 year
Comparison Rate5.21%
Monthly Repayment$1374over 30 years
Details
Advertised Rate5.56%Variable
Comparison Rate5.56%
Monthly Repayment$1429over 30 years
Details
Pros
  • A range of home loans to choose from.
  • Suitable for low deposits.
  • Parents can act as guarantors for some loans.
  • Opportunity to package financial products.
  • Flexible repayment schedule with weekly, fortnightly or monthly repayment options.
Cons
  • Not all products offer offset facilities.
  • Some products include numerous fees.
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Customer Service
CUA home loan customers can get in touch with the credit union by visiting one of its 60 plus branches Australia-wide. Alternatively customers can contact the customer service centre by phone. If home loan customers have difficulties concerning their repayments they can take advantage of CUA’s financial hardship hotline. Customers can also submit a query through the CUA website or by emailing their lender directly. Customer service centre (phone) Mobile app Online banking Email Branch
Applying and Eligibility
Home loan enquires can be submitted online and a CUA home loan specialist will provide a call back. There is currently no functionality for customers to apply online. Applications can be completed face-to-face in a branch or over the telephone. For straight forward banking transactions CUA customers can use internet banking and their mobile app 24-hours a day. Before customers submit their loan application it’s recommended that they consider how much they can afford to borrow before making any commitments. To support their CUA home loan application customers may need to provide several documents including:
  • Personal identification.
  • Personal income details.
  • Details of current debts and assets.
  • Information about the property.
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