Laboratories Credit Union Home Loans

LCU Laboratories Credit Union

Laboratories Credit Union is a provider of home loans, personal loans, savings accounts and term deposits. Membership is open to CSIRO, Riverside Corporate Park, North Ryde and Macquarie Business Park employees, their family and friends, plus members of STEM industries.

What home loans does Laboratories Credit Union offer?

At the time of writing, Laboratories Credit Union (LCU) offers the following home loans:

  • Introductory Home Loan Offer: features a discounted interest rate for one year and, at the time of writing, LCU will pay for legal fees and valuation costs up to $1,000, which it says is a limited time offer.
  • Savvy First Home Buyer Loan: designed for first home buyers and features a discount on the standard variable loan rate for the first three years of your loan and LCU will pay legal fees and valuation costs up to $800 (T&Cs may apply – check with LCU for details).
  • Intelligent Mortgage 300: features a discounted variable home loan rate available when you borrow over $300,000.
  • Intelligent Mortgage Variable: features a standard variable home loan rate available when you borrow under $300,000.
  • Intelligent Mortgage Fixed: features a fixed interest rate available for one, two or three years.
  • Interest-Only Home Loan: features a fixed interest rate for one or two years and then can be transferred to a variable rate. LCU says this loan may be suitable if you have purchased land and now want to build a family home.
  • Bridging Loan: a one-year interest-only loan designed to assist you in buying a new home if you haven’t finalised the sale of your existing home.
  • Home Renovation Loan: LCU says this may suit someone who is a property owner or has a home loan with LCU and is looking to renovate.
  • Lifestyle Account – Overdraft: this combines your home loan and savings account into one account and allows you to reduce your home loan balance and interest.

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Laboratories Credit Union home loan features

The following features are available on selected LCU home loan products:

  • 100% offset account
  • No redraw fees
  • No ongoing fees
  • Repayments made weekly, fortnightly or monthly

The inclusions above represent a selection of the features available with LCU home loans and may not apply to every home loan LCU offers. Canstar is not making any suggestion or recommendation to you about this product. Additional conditions may apply to different features. Please see our comparison tables for more detailed information about products on offer from this provider. Check upfront with LCU and please ensure that you read the product disclosure statement (PDS) or other loan documentation to determine all the current loan terms and conditions for the product you are considering and whether it meets your needs, before committing to it.

Laboratories Credit Union home loans FAQs

Before getting started, you might first like to take a look at our applying for a home loan checklist for some pointers, and use the Canstar website to compare home loans with other providers before choosing a product that suits your needs.

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If you decide to apply for a LCU home loan, you can do this through its website, over the phone or at its branch in North Ryde.

LCU allows early repayment without penalty on some of its home loans. Terms and conditions may apply. Contact LCU for details.

To give you an idea of how making extra repayments could save money in interest over the life of your loan, you might like to try our Extra Repayments Calculator:

Home Loans Extra Repayments Calculator

LCU offers a redraw facility with no fees on all of its home loans except the Lifestyle Account – Overdraft. Terms and conditions may apply. Contact LCU for details.

If you’re in the market for a home loan, compare your options with Canstar. 

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Since its establishment in 1954, LCU has grown from 30 or so members to more than 3,000 members. LCU was originally founded by CSIRO staff in North Ryde. Membership now extends beyond the CSIRO to Riverside Corporate Park, North Ryde and Macquarie Business Park employees, their family and friends, plus members of STEM industries.

Written by: Tamika Seeto | Last updated: March 13, 2019