Family First Credit Union Premium Offset Loan


The Premium Offset Loan comes with a 100 per cent offset account to enable borrowers to reduce how much interest they pay while saving. Any money deposited into the account offsets the amount of interest owed.

Borrowers also have the option of making unlimited extra repayments. Should those funds they’ve repaid be needed elsewhere, they can be redrawn through the attached redraw facility.

When it comes to regular repayments, borrowers can choose to make them weekly, fortnightly or monthly in line with their income cycle. 

Who is the Family First Credit Union Premium Offset Loan good for?

The Premium Offset Loan may suit a range of borrowers, especially those who are seeking payment flexibility and no ongoing fees. The 100 per cent offset account, redraw facility and uncapped extra repayments are among the features likely to appeal to borrowers.

Review - What RateCity says

The Premium Offset Loan from Family First Credit Union gives borrowers the opportunity to pay off their loan quickly by taking advantage of a number of flexible features such as extra repayments and a 100 per cent offset account.

The lack of ongoing fees may a compelling feature of this loan for those who want to concentrate only on the repayments, however the upfront fees are in the high to very high range. It should also be noted the variable rate is very high compared to some of this lender’s counterparts.

As always, borrowers should balance the interest rate and fees against the flexible features to determine whether this loan is right for them. 

Family First Credit Union Premium Offset Loan Options

The Family First Credit Union Premium Offset Loan offers options for a range of loan sizes and minimum deposits.

  • 100 per cent offset account.
  • Extra repayments.
  • No ongoing fees.
  • No fixed rate of interest.
  • Upfront fees.
  • Not portable.

Australian resident.

Proof of income.

At least 18 years of age.

Minimum deposit.


About Family First Credit Union

The Family First Credit Union has been in operation under a number of names since 1967. Founded in Lithgow, it focuses on providing its members with a variety of financial services to suit their needs.

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