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.

We can give you a payout figure for any set date by calling us on 13 11 82 or visiting your local branch. This payout figure will only be valid for the date requested. The balance that you view in internet banking does not include any interest accrued, or any fees and charges which may be applicable.

If you have registered for Internet Banking at People's Choice, you can set up a scheduled transfer to make recurring payments on your loan. Simply log in to Internet Banking, click on 'Transfer' under the 'Transfer/Pay' tab, click on the 'Schedule Payment' icon and follow the prompts.
Don't have Internet Banking? Call us on 13 11 82 or visit your nearest branch, so our friendly staff can ask you a few security questions to be sure we're talking to the account holder. We'll then be able to set up your Internet Banking and you can start checking in on your accounts online right away.
If transferring your payment from another financial institution, use the BSB 805 050, your loan account number and your surname for the account name.

• If you make Principal and Interest repayments, you’ll receive a letter from us with your new rate and repayment information, providing you with at least 20 days' notice for you to make any changes.
• If you make Interest Only repayments, you’ll receive a letter from us with your new rate.
• If you have a Line of Credit account, you’ll receive a notification of the rate change on your next statement.

Yes. Speak to a Home Loan Adviser to discuss your options. 

A split loan is where you can choose a fixed interest rate for part of your loan amount and a variable interest rate for the rest. The fixed portion helps to protect you from rate rises while the variable portion allows you to pay off some of your loan sooner, and benefit from any falls in interest rates. 

No. There are no additional fees for splitting your loan.

This will depend on the home loan you have. Speak to a Home Loan Adviser to discuss your options. 

If you want to speak to us about fixing your home loan interest rate, email us on fixmyhomeloan@peopleschoice.com.au with your name, member number and contact phone number and we endeavour to be in touch within 48 hours to talk through your options.

Yes, you can take advantage of this immediately. You'll be entitled to one free valuation each year when you increase your borrowings within your home loan package.