- 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 happens if I get sick, have an accident or lose my job?
- Do I need to take out Loan Protection Insurance?
- Is a redraw facility available?
- What is Lenders Mortgage Insurance?
- What is Loan Protection Insurance?
Do I have to be a credit union member to take out a loan?
The Credit Union is a mutual financial institution and as such is owned by its members, each one of whom is a shareholder. Yes, you must be a member of the Credit Union to have a loan. Learn more about becoming a member. ^
How much can I borrow?
Would you like to calculate how much you may be able to borrow? Use our Loan Calculator. ^
How do I make repayments on the loan?
You can arrange to make your loan repayments by direct debit from your savings or transaction account with FCCS or another financial institution. 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 information is also available through our Internet and Phone banking services. ^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 Protection Insurance. ^
Do I need to take out Loan Protection Insurance?
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 Protection Insurance. ^
Is a redraw facility available?
The 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. Terms and conditions are available on application. The redraw facility is offered as a free service. ^
What is Lenders Mortgage Insurance?
Lenders Mortgage Insurance if applicable, covers the Credit Union against a loss in the unlikely event that we have to exercise our right to sell the property due to ongoing default of loan repayments. It must not be confused with Insurance designed to cover your lending obligations in the case of sickness, accident or involuntary unemployment. To avoid LMI a deposit of 20% of the property's value is required. ^
What is Loan Protection Insurance?
Loan Protection Insurance provides you with the peace of mind that if an unfortunate event, such as your death, disability, involuntary unemployment or trauma occurs, your assets will be safe and your loan repayments will be taken care of. ^
More Information
- Read more about the benefits of our Business Loans
- Use one of our Loan Calculators to work out which loan is right for you
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Questions?
If you have any questions, please give us a call 