CUA Personal Loans

CUA (short for Credit Union Australia) is a provider of personal loans, car loans, home loans as well as everyday banking and insurance products.

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The table below displays a snapshot of CUA’s secured personal loan products and rates on Canstar’s database, sorted by Star Rating (highest to lowest). Please note the products and Star Ratings displayed are based on a loan amount of $20,000 for a three-year loan in NSW.

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What personal loans does CUA offer?

At the time of writing, CUA offers two different types of unsecured personal loans:

  1. Unsecured fixed personal loan
  2. Unsecured variable personal loan

CUA also offers a Secured Fixed Car Loan which can be used to buy a new or used car up to seven years old.

CUA unsecured fixed personal loan

This loan currently offers the following features, according to CUA:

  • Loan term between one and seven years
  • Loan amount between $5,000 and $50,000 (loans from $1,000 may be available if you apply at a CUA branch)
  • No monthly fees
  • No early payout fees
  • Unlimited free additional repayments
  • Access to additional repayments with a redraw facility
  • Repayments available either weekly, fortnightly or monthly

CUA unsecured variable personal loan

This loan currently offers following features:

  • Loan term between one and seven years
  • Loan amount between $5,000 and $60,000 if you apply online (loans from $1,000 to $100,000 may be available if you apply at a CUA branch)
  • No monthly fees
  • No early payout fees
  • Unlimited free additional repayments
  • Access to additional repayments with a redraw facility
  • Repayments available either weekly, fortnightly or monthly

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What can you use CUA’s personal loans for?

Personal loans can typically be used for important life events and other large expenses. CUA says its personal loans can be used for:

  • Buying a car
  • Debt consolidation
  • Holidays
  • Home renovations
  • Education

CUA currently offers a Secured Fixed Car Loan which can be used to buy a new or used car up to seven years old.

Read the product disclosure statement (PDS), key facts sheet or other applicable loan documentation from CUA for any specific details on what you may or may not be able to take out a personal loan for.

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CUA personal loan FAQs

CUA says its personal loan terms range from one to seven years.

There are a number of fees to be aware of when taking out a personal loan. At the time of writing, CUA advises that its personal loans come with a $175 establishment fee. CUA says it does not charge any monthly fees or an early payout fee, however. Check with CUA for a full list of the fees and charges that may apply.

According to CUA, to be eligible for a CUA personal loan you must:

  • Be aged 18 years or over
  • Be an Australian citizen or permanent resident
  • Be employed or receive a regular income
  • Not be or have been insolvent or bankrupt
  • Have no past, present or pending claims against you

When applying for a personal loan, CUA says you will need the following information at hand:

  • An email address and contact number
  • Your existing CUA Member number (if you already bank with CUA)
  • Details to verify your identity, such as an Australian driver’s licence, Medicare or passport details
  • Employment and income details
  • Details of your expenses, assets and liabilities

CUA (Credit Union Australia) was founded in 1946. Today it says it is Australia’s largest credit union and provides financial and insurance products to over 500,000 Australians.

This article was reviewed by our Sub-editor Tom Letts before it was updated as part of our fact-checking process.

Written by: Tamika Seeto | Last updated: September 16, 2020