Macquarie Credit Union Home Equity Loan


The Home Equity Loan is designed for existing asset owners who wish to borrow against the portion of their home that they own.

It lends borrowers up to 80 per cent of their property’s value in equity, with loan terms of up to 30 years. The minimum loan size is $5000.

The loan can be used for investments, property improvements or discretionary spending, like holidays or personal spending.

Repayments can be made in lump sums or in smaller increments on a weekly, fortnightly or monthly basis. Interest is calculated daily and charged monthly.

Other features include a top up facility, a time out option and the option to make early repayments if desired without penalty. 

Who is the Macquarie Credit Union Home Equity Loan good for?

Owner-occupiers, investors and refinancers who wish to borrow against the equity in their home and want the flexibility of repaying it in either regular instalments or lump sums. 

Review - What RateCity says

The Macquarie Credit Union Home Equity Loan’s main attraction is its payment flexibility, with the option to adopt a weekly, fortnightly or monthly repayment schedule and the option to pay off the loan earlier if desired.

However, its rates for owner-occupier and investor are very high. It also has a number of fee categories and it has no attached offset account. It is not suitable for borrowers with no existing assets.

Macquarie Credit Union Home Equity Loan Options

The Macquarie Credit Union Home Equity Loan lets borrowers to borrow against the equity in their property, with loan terms up to 30 years and loan amounts starting at $5000.

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  • Branch access.
  • No ongoing fees.
  • Flexible repayment options.
  • High rate.
  • No offset account.
  • No redraw facility.

Must meet serviceability criteria.

Must be a partial asset owner.

Must be over 18.

Must be an Australian resident. 


Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Line of Credit Loans
  • Investors
  • Estimated upfront fees: $320.00 - $570.00
  • Discharge fees: $200
  • Ongoing fees: $0

The Macquarie Credit Union Home Equity Loan attracts a relatively high upfront fee for its category and a low discharge fee at the termination of the arrangement. Legal fees and valuation fees are charged on an at cost basis. There are no ongoing fees. 

  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
About Macquarie Credit Union

Macquarie Credit Union is a member-owned institution. It was founded in 1964 for the electricity workers of Macquarie County Council. In the 1970s and 1980s it was expanded to include members of surrounding councils including Dubbo Shire and Warren Shire. In 2013, it opened its membership to everyone in the Dubbo local government area.

It has no shareholders and its profits go back to its members. It has a board of directors and is headquartered in Dubbo, NSW.

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