FAQ

Most popular questions...

• Can I redraw excess funds from my loan?

  Yes, our Variable Home Loan package offers you the flexibility to redraw any extra repayments you have made if you need the money back again. Redraw can be accessed online or via one of our branches.

  _{*Minimum redraw amount is $1,000. Redraws are only available if sufficient extra repayments have been made against the loan account.}

• What is Responsible Lending?

  At People's Choice Credit Union we understand that credit is a very important facility which allows you to achieve your personal, financial or lifestyle goals faster than you could if you had to rely on your savings alone.

  As a mutually owned financial institution we embrace our responsibility to understand your personal situation when we make recommendations regarding providing, extending or arranging credit for you. This is to ensure you are reasonably likely to meet the obligations you have in respect of repaying the debt and avoid experiencing financial stress.

  But we recognise that situations may change from time to time which may inhibit your ability to meet your credit repayment obligations. We understand the pressures that you and your family may experience during these difficult times and we work with you to find a mutually acceptable solution to aid in your overall debt management strategies and to continue to work with you to achieve your financial goals.

• Can I pay extra off my loan?

  Yes, our Variable Rate Package enables you to make unlimited extra repayments. 

• How many loans can be incorporated under one annual package fee?

  There are no restrictions to the number of loans that can be incorporated under one $395 annual fee.

  Our Home Loan Package offers variable, line of credit and fixed rate products. 

• Can I link an offset account to my Home Loan Package?

  An offset facility is available on our Variable Home Loan Package. Linking an offset account to your loan may help you reduce the interest payable and time taken to pay off your loan.*
  

   

  _{*An Offset account is optional and only available for Standard Variable and Variable Package loans. $8 per month fee applies.}