In 1963, Sydney Credit Union (SCU) was formed as an alternative to banks for City of Sydney council members. It quickly expanded to offer services to 12 other councils, then in later years merged with several other credit unions.

With its head office in Blacktown, SCU has 17 branches, mostly in Sydney’s western suburbs.

SCU is owned by its members, so profits go back into the business and are passed onto members through lower fees and rates.

SCU home loans

Basic Variable Rate Home Loan
Advertised rate
3.77%
Variable
Upfront fee
$1190.00
Comparison rate*
3.81%
Ongoing fee
$0
Compare
First Home Buyer Loan - 40 Year Term
Advertised rate
3.77%
Variable
Upfront fee
$1190.00
Comparison rate*
3.81%
Ongoing fee
$0
Compare
My Life Variable Rate Package ($250k-$500k)
Advertised rate
3.97%
Variable
Upfront fee
$495.00
Comparison rate*
4.00%
Ongoing fee
$350 annually
Compare
My Life Fixed Rate Package 2 Years
Advertised rate
3.69%
Fixed - 2 years
Upfront fee
$495.00
Comparison rate*
4.04%
Ongoing fee
$350 annually
Compare
My Life Fixed Rate Package 3 Years
Advertised rate
3.85%
Fixed - 3 years
Upfront fee
$495.00
Comparison rate*
4.05%
Ongoing fee
$350 annually
Compare
My Life Fixed Rate Package 1 Year
Advertised rate
4.39%
Fixed - 1 year
Upfront fee
$495.00
Comparison rate*
4.30%
Ongoing fee
$350 annually
Compare
Pro Pack Home Loan ($250k+)
Advertised rate
4.40%
Variable
Upfront fee
$1190.00
Comparison rate*
4.45%
Ongoing fee
$0
Compare
Fixed Rate Home Loan 2 Years
Advertised rate
3.69%
Fixed - 2 years
Upfront fee
$1190.00
Comparison rate*
4.52%
Ongoing fee
$0
Compare
Fixed Rate Home Loan 3 Years
Advertised rate
4.00%
Fixed - 3 years
Upfront fee
$1190.00
Comparison rate*
4.53%
Ongoing fee
$0
Compare
Fixed Rate Investment Loan (Principal and Interest) 2 Years
Advertised rate
4.45%
Fixed - 2 years
Upfront fee
$695.00
Comparison rate*
4.66%
Ongoing fee
$0
Compare
Fixed Rate Investment Loan (Principal and Interest) 3 Years
Advertised rate
4.49%
Fixed - 3 years
Upfront fee
$695.00
Comparison rate*
4.66%
Ongoing fee
$0
Compare
Pros:
  • Competitive rates.
  • Flexible payment options.
  • Extra repayments often permitted.
Cons:
  • Small branch network.
SCU customer service:

Potential SCU customers have access to the credit union’s mobile lenders. They can also use internet banking, contact the lender via email or phone the customer service line, which is attended to 6 days a week.

  • Customer service centre (phone, email, branch)
  • Online banking
  • Mobile banking staff
  • Social media

How to Apply

SCU customers can apply for a home loan through a number of methods. These include by phone or email, via the online application form on the SCU website, or by booking a phone appointment with a home loan specialist. Customers can also apply in person at a branch. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:

  • Personal identification material.
  • Proof of income and other earnings.
  • Proof and type of employment.
  • Details of current loans, debts and liabilities.
  • Personal insurance documents.
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