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FAQs

FAQs

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Do I have to be a Credit Union member to take out a loan?
The Credit Union is a mutual financial services organisation and as such is owned by its members, each one of whom is a shareholder. Therefore you must be a member of the Credit Union to have a loan. Learn more about becoming a member.

How much can I borrow?
The minimum amount you can borrow is $10,000. The actual amount you can borrow is determined by your ability to meet the repayments of the loan. Wish to calculate how much you can borrow? Use our Loan Calculator.

How do I make repayments on the loan?
You can arrange to make your loan repayments either by payroll deduction, direct debit from your savings or transaction account, internet or telephone banking transfer, at any of our branches or using bank@post. Learn more about these repayment methods.

How often will I receive information on my account?
Statements are produced six monthly or more frequently on request. Duplicate statements can be requested at any time from our office.

Account Balances and Statements are also available through our telephone and Internet banking services.

What security is required to take out a Car Loan?
We will take a Bill of Sale over your vehicle as security. To enable this to be registered with REVS there will be a small fee involved

What happens if I get sick, have an accident or lose my job?
The best way to obtain peace of mind that your repayment obligations will be met in the case of accident, illness or involuntary unemployment is to take out insurance. Learn more about our Loan Repayment Insurance.

Do I need to take out insurance on my loan?
It is recommended that you take out insurance on your loan, although not compulsory, it is designed to cover your lending obligations in the case of sickness, accident or involuntary unemployment. Although you do not have to purchase your insurance through us, we do offer a range of insurance policies. Learn more about our Loan Repayment Insurance.

Do I need to take out insurance on my vehicle?
If the credit union has taken security over your vehicle, you will be required to have the vehicle comprehensively insured. The Credit Union can offer a quote on your vehicle before purchase to make the loan process more efficient.

Decided on the loan that is right for you?
Apply using our simple online Car Loan application form here


Want to learn more?

  • Get in touch with one our friendly staff - we'd be happy to answer any questions you may have.
  • Use one of our Loan Calculators to work out what loan is right for you.