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Quay Credit Union Home Loans

Quay Credit Union is located in the Sydney’s central business district and has been operating since the 1980s.

It started out as a credit union that was open only to members who were employees and agents of the AMP Group and their families. However, today it has more than 10,000 members and offers many of the services and products that are available from the big banks.

In addition to home loans, Quay Credit Union offers car loans, savings accounts and term deposits, personal loans, Visa credit and debit cards, as well as standard transaction accounts.

As a credit union, Quay fits into the category of community-based financial institutions that are owned by members.

Because it is owned and operated by members, one of its perceived benefits of Quay Credit Union is that all its profits are directed back into its services rather than being channelled to shareholders.

Quay Credit Union FirstStart Loan

This home loan is billed as good for those getting into the property market because it offers a low variable rate, but allows borrowers up to 90 per cent of the property’s value. It comes with a free redraw facility and charges no penalties for early repayments.

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Quay Credit Union Premium Home Loan

Similar to the basic option, this home loan offers a low variable rate. Borrowers can access loans of up to 80 per cent of the property value, while accessing a free redraw facility and 100 per cent offset account and paying no penalties for early repayment. Unlike the basic option, there is no interest-only feature.

View Home Loan Details

Quay Credit Union Basic Home Loan

The Quay Credit Union Basic Home Loan features a low variable rate and allows borrowers up to 80 per cent of their property’s value. It comes with free redraw, no penalties for early repayment and an interest-only option for up to five years. However, there is no offset account.

View Home Loan Details

Home Loans from Quay Credit Union

Product
Advertised Rate
Comparison Rate
Monthly Repayment
Go To Site
Advertised Rate4.24%Variable
Comparison Rate4.28%
Monthly Repayment$1234over 30 years
Details
Advertised Rate4.24%Fixed - 1 year
Comparison Rate4.28%
Monthly Repayment$1234over 30 years
Details
Advertised Rate4.24%Variable
Comparison Rate4.28%
Monthly Repayment$1234over 30 years
Details
Advertised Rate4.49%Fixed - 2 years
Comparison Rate4.33%
Monthly Repayment$1242over 30 years
Details
Advertised Rate4.49%Variable
Comparison Rate4.53%
Monthly Repayment$1271over 30 years
Details
Pros
  • Competitive interest rates.
  • Flexible loan options including free redraw and offset accounts.
  • Interest-only terms.
  • No monthly or annual fees.
Cons
  • No branch access.
  • Limited home loan products to choose from.
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Customer Service
Quay Credit Union has a number of services for account access and customer support. These include round-the-clock availability for phone banking and internet banking and an app for easy banking. Quay Credit Union has no physical branches, with its last bricks-and-mortar branch shutting in 2013. Since then, the credit union has pursued what it calls a "virtual branch strategy". In addition to accessing its online and phone channels, the credit union is part of the Australia Post Bank@Post service. This service gives you access to some of the bank’s services at more than 3,000 Australia Post outlets, including making deposits and withdrawals. Customer service centre (phone) Online banking Mobile app Email
Applying and Eligibility
Applications can be made online at the Quay Credit Union website or by downloading and completing relevant documentation then returning them to Quay Credit Union via post. Relevant information includes:
  • Personal identification material.
  • Proof of income.
  • Information regarding your current debts, liabilities and assets.
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