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• Do I have to be a credit union member to take out a loan?
• How much can I borrow?
• How do I make repayments on the loan?
• How often will I receive information on my account?
• What security is required?
• What happens if I get sick, have an accident or lose my job?
• Do I need to take out insurance?
• Is a redraw facility available?

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 maximum amount you can borrow is $50,000.  In all circumstances our personal loans are limited by your ability to meet your repayments.  Wish to calculate how much you could borrow?  Use one of our Loan Calculators. ^

How do I make repayments on the loan?

You can arrange to make your loan repayments either by payroll deduction, periodical payment from your savings or transaction account, Internet or telephone banking transfer, at any one of our Branches, or using Bank@Post at most Australia Post outlets. ^

How often will I receive information on my account?

Statements are issued monthly or every three months as required. Duplicate statements can be requested at any time from our Branches or posted to you if you speak with our call centre staff.

Account Balances and Statements are also available through our Internet and Ready Phone banking services. ^

What security is required to take out a car loan?

A Bill of Sale over a suitable motor vehicle is required for the car loan. ^

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?

It is recommended that you take out insurance on your loan, although it is not compulsory it is designed to cover your lending obligations in the case of sickness, accident or death.  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. ^

Is a redraw facility available?

Encompass Credit Union gives you the option of making extra repayments on your loan and then having the flexibility of being able to redraw on these extra repayments. Minimum redraw amount is $100. See our Fees and Charges for Redraw fees. ^

More Information

• Read more about the benefits of a Personal Loan
• Use one of our Loan Calculators to work out what loan is right for you

Apply

Apply for a Personal Loan

Questions?

If you have any questions, please contact us