CUA Personal Loans

Credit Union Australia (CUA) is the largest, 100% member-owned financial institution in Australia. Founded in 1946, the credit union has more than 600,000 members and 70 branches Australia wide.

CUA is accessible through their online and mobile banking app, CUA Direct (Australia-based call centre) and their branches across the country. Their personal loans are offered for a range of purposes, including debt consolidation, buying a car, or home renovations.

CUA personal loan repayment calculator

Thinking about taking out a personal loan with CUA? Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how CUA personal loan compare with various products.

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CUA Personal Loans

Features of a CUA personal loan

CUA provides its customers with personal loans for a wide range of purposes including debt consolidation, buying a vehicle, home renovations, travel, health or medical reasons, a wedding, student loans and even purchasing shares.

 

The credit union offers both secured and unsecured personal loans, with a repayment term ranging from one to seven years. CUA persona loan interest rates are higher than average and they offer both fixed and variable loan terms.

 

CUA also rewards its personal loan customers by scrapping many common fees, including application fees, ongoing fees and early exit penalty fees. However, you should keep an eye out for administration fees applied to secured loans. Redraw facilities and extra repayments are also available for CUA personal loan products, and you’re able to apply both online or in branch.

Customer service

You can contact CUA by dropping into one of their 70 branches across Australia, their online platform and mobile banking app, as well as through CUA Direct – their Australia-based call centre. They also allow customers to manage their finances through Apple Pay, Google Pay and Samsung Pay. 

Who is eligible for a CUA personal loan?

To qualify for a CUA personal loan it is required that you:

  • Are at least 18 years of age
  • Are a permanent resident of Australia
  • Are currently employed
  • Receive a regular income
  • Have not declared bankruptcy or insolvency, or had defaults on any loans, credit cards, interest free finance or store cards in the last five years

How to apply for a CUA personal loan?

You can apply for a CUA loan though:

  • Online application process
  • Apply in branch (minimum loan amount $1,000)

CUA personal loans review

CUA is a credit union based Australia wide. They offer secured and unsecured personal loans to new and existing customers, with a maximum borrow amount of $60,000.

 

CUA personal loans are a competitive choice for everyday Aussies looking for a personal loan with helpful features and very minimal fees. While their interest rates are often higher than average, they offer customers waived application fees, ongoing fees and early exit penalty fees may entice them to join. Those looking for secured personal loans should know that a security administration fee applies. CUA personal loan customers can also enjoy features like unlimited free extra repayments and a redraw facility.

 

CUA personal loan interest rates increase when you are borrowing more than $30,000 and/or whether you are taking out an unsecured loan. However, it is a marketplace standard to see higher interest rates for these criteria.

 

The credit union does limit borrowing from those who have declared bankruptcy or insolvency, or had defaults on any loans, credit cards, interest free finance or store cards in the last five years, so their personal loans may not be suitable if you are deemed an unreliable borrower.

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