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People's Choice Credit Union Home Loans

People’s Choice Credit Union dates back to 1949 and is now one of Australia’s largest credit unions. The organisation was created through the merger of Australian Central and Savings & Loans in December 2009. Member-owned, its customers get a say in how the credit union is run. People’s Choice meets the same regulatory standards as banks and provides a wide range of financial products and services, including home loans, business accounts, and savings and investment products as well as financial advice.

People’s Choice Credit Union Package Loan

This home loan package applies for loans $150,000-plus and gives borrowers big interest rate discounts, transaction fee-free banking and some discounts on financial products and services once you pay an annual fee. You can take out the loan for up to 40 years.

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People’s Choice Credit Union Line of Credit Loan

A line of credit can be used for discretionary spending or investment purposes and it enables you to use the equity you have in your home as security for the loan. You can withdraw funds as you need, so long as you stay within your agreed credit limit. Also, by depositing your salary into a line of credit account, every dollar you don't spend offsets your home loan and the amount of interest you pay. There is a small monthly fee on this account but no early repayment penalties. A minimum loan size of $20,000 applies.

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People’s Choice Credit Union Basic Variable Loan

People’s Choice Credit Union Basic Variable Home Loans offers borrowers unlimited extra repayments allowed and greater interest rates discounts for loans with bigger deposits (or more than 20 per cent of a property’s value). You get a redraw facility and can make interest-only repayments for up to 10 years. You can also take out the loan for up to 40 years, with a minimum loan size of $50,000.

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Home Loans from People's Choice Credit Union

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Pros
  • Flexible borrowing limits.
  • Extended loan terms.
  • Opportunity to bundle other financial products.
  • Online application process.
  • Broad range of home loan products.
Cons
  • Must be a member.
  • Limited branch access in some states.
  • Slightly high interest rates.
  • Ongoing fees on some accounts.
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Customer Service

People’s Choice Credit Union has branches in Adelaide, Canberra, Darwin and Perth and regional locations in South Australia, Northern Territory, Victoria, Western Australia and the Australian Capital Territory. Members can access their accounts and funds via ATMs, mobile banking and payment apps, internet banking and telephone banking facilities, as well as Bank@Post.

  • Customer service centre (phone)
  • Mobile banking and payment apps
  • Online banking
  • Online inquiries
  • Email
  • Branch network
  • Mobile home lenders
Applying and Eligibility

To become a member of People’s Choice Credit Union, you need to complete a membership application. You can visit one of their branches, call the national contact centre or visit a Bank@Post outlet. Membership is gained by buying a share for just $2 and is open to any resident of Australia. Documents you need to apply for a home loan include:

  • Personal ID.
  • Proof of income – whether you are self-employed or work for an employer.
  • Proof of other income, including rental income.
  • Information regarding existing debts, liabilities and assets.
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