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Summerland Credit Union Home Loans

Summerland Credit Union is based in NSW and offers a wide range of financial products and services, including home loans, saving and investment accounts and insurance products. You need to be a member to bank with this credit union, but anyone can join using Summerland’s online membership application. Summerland’s profits are reinvested into the business and members, who also get a say in how the credit union is run. Summerland meets the same regulatory standards as banks, so your money is as safe.

Summerland Credit Union Eco Home Loan

This variable rate loan caters for certain environmentally-friendly purposes. Borrowers receive a discounted loan establishment fee, no monthly loan fees and Summerland will make a donation to a local, environmentally-focused organisation.

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Summerland Credit Union Equity Extra Overdraft

With the Equity Extra Overdraft, you can borrow money using the equity in your home as security for a line of credit. This enables you to borrow funds up to an agreed amount and the money for whatever purpose you choose. Interest is calculated on a daily basis and is only charged on the amount you draw down.

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Summerland Credit Union Offset Loan

This loan is similar to the Home Loan Plus, with the added benefit of an offset facility. This means that the balance in your linked 100 per cent offset savings account reduces your home loan principal and therefore the interest calculated on your mortgage.

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Summerland Credit Union Home Loan Plus

A flexible variable rate home loan, Summerland’s Home Loan Plus allows borrowers to have split loans and make extra or lump sum payments as desired, without penalty. You can make redraws and pre-approval is available so you can have your loan approval ready before the purchase of your new home.

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Summerland Credit Union Fixed Rate Loan

For borrowers wanting certainty over their home loan repayments, you can fix your interest rate from one year up to five years with Summerland’s fixed loans. Owner-occupiers or investors can apply. You also have the option of taking out an interest only loan.

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Summerland Credit Union Premium Home Loan

Summerland’s Premium Home Loan package bundles your home loan with other products, including a fee-free credit card and a savings account. You also get discounted home loan interest rates and there are no establishment or monthly loan fees and you get free redraw. But you will pay an annual fee for the bundling together of these products.

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Home Loans from Summerland Credit Union

Pros
  • Competitive interest rates.
  • Opportunity to bundle other financial products.
  • Online loan application process.
  • Fast loan approval.
  • Eco-friendly loans.
Cons
  • Must be a member.
  • Limited branch access.
  • Limited features on fixed loans.
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Customer Service

Summerland Credit Union’s branches are located throughout the NSW north coast and regional areas, with one branch in Coolangatta, Queensland. Members can access their money with Summerland ATMs as well as all ATMs in the national Westpac network, including St George, Bank of Melbourne and BankSA ATMs. As a Summerland cardholder, you pay no direct charge fees at any of these ATMs.

  • Customer service centre (phone)
  • ATMs
  • Mobile app
  • Online banking
  • Email inquiries
  • NSW branches
Applying and Eligibility

To become a member of Summerland, you need to complete a membership application, which you can do online. All Australian citizens and permanent residents are eligible to apply, provided you are over 18 years old. Documents you need 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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