What are the monthly repayments for a $500,000 home loan at Credit Union SA?

For a $500,000 loan at 6.04% over 30 years, your monthly repayments would be approximately $3,011, with a total interest of $583,824 over the loan's term.

Are there any high fees I should be aware of with Credit Union SA home loans?

Yes, Credit Union SA charges a high annual fee of $395, which is something to consider when evaluating the overall cost of the loan.

How much could I save by refinancing my home loan to Credit Union SA?

Refinancing to Credit Union SA could save you $150 per month on a $500,000 loan, totaling $53,898 over 30 years. Savings vary based on loan size and terms.

What is the discharge fee when I pay off my mortgage with Credit Union SA?

A discharge fee is payable when you request to discharge the mortgage on your security property. The exact amount can be confirmed with Credit Union SA directly.

How long does the refinancing process take with Credit Union SA?

The standard refinancing process with Credit Union SA usually takes up to four weeks, depending on the complexity of your situation.

Does Credit Union SA offer any special programs for first home buyers?

Yes, Credit Union SA offers a Family Guarantee for first home buyers and participates in the Australian Government 5% Deposit Scheme, making it easier to enter the market.

What are the benefits of the School Impact Program offered by Credit Union SA?

The School Impact Program allows South Australian schools to apply for funding up to $20,000 for various projects and programs, supporting educational initiatives.

Can I get a low deposit loan with Credit Union SA?

Yes, Credit Union SA offers a Low Deposit Variable loan with up to 97% LVR at 6.99% p.a. (comparison 7.35%), available for First Home Buyers and Single Parent participants.

How much would I save monthly with a $1,000,000 loan from Credit Union SA compared to the market?

With a $1,000,000 loan, you could save $299 each month, leading to a substantial $107,796 over 30 years, compared to the market average.

UPDATED JUL 7, 2026

Credit Union SA Home Loans: The 2026 Review

Empower your community with our School Impact Program offering up to $20,000. Enjoy low deposit options, but watch for the high annual fee of $395. Ready to explore?

Bheja Verdict

Very Good

4.0/5

✓

Competitive interest rates

✓

Wide range of loan options

Check Eligibility

Credit Union SA Home Loans At a Glance

🏷️Best Rate Available

6.04%

Variable • Owner Occupied

💳Application Fee

Fee-free options available

📅Monthly Fee

Ongoing service fee

Loan Range:$20K - $100.0M

LVR:Up to 96%

Products:47 variations

Offset Account:Available

Current Credit Union SA Home Loan Rates

Last updated: July 2026

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Average Rate: 6.71%
Best Rate: 6.04%
Monthly Payment: $3,011

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XL Home Loan Package
Credit Union SA
Min 4% DepositOffsetRedraw
6.04%
Interest Rate
Variable
6.41%
Comparison Rate*
$3,011
per month
Principal And Interest
Visit lender’s site
Check Eligibility
Variable Home Loan Package Specials
Credit Union SA
20%-40% DepositOffsetRedraw
6.24%
Interest Rate
Variable
6.61%
Comparison Rate*
$3,075
per month
Principal And Interest
Visit lender’s site
Check Eligibility
Variable Home Loan Package Principal and Interest
Credit Union SA
Min 4% DepositOffsetRedraw
6.99%
Interest Rate
Variable
7.35%
Comparison Rate*
$3,323
per month
Principal And Interest
Visit lender’s site
Check Eligibility
Discounted Variable Rate Home Loan Principal and Interest
Credit Union SA
Min 4% DepositRedraw
7.04%
Interest Rate
Variable
7.07%
Comparison Rate*
$3,340
per month
Principal And Interest
Visit lender’s site
Check Eligibility
Standard Variable Rate Home Loan Principal and Interest
Credit Union SA
Min 4% DepositOffsetRedraw
7.24%
Interest Rate
Variable
7.29%
Comparison Rate*
$3,407
per month
Principal And Interest
Visit lender’s site
Check Eligibility
Fees:
Application $600+ other fees may apply

Credit Union SA Product Statistics

Real-time insights and market analysis

Credit Union SA offers 25 home loan products across 47 variations, the average variable rate is 6.92% p.a., the best available rate is 6.04% p.a..

Average Variable Rate

6.92%

19 products

Average Fixed Rate

7.37%

28 products

Best Available Rate

6.04%

Variable • Owner Occupied • IO

Total Products

47 variations

Fee Summary

Application Fee

47% fee-free

$0 - $600

Monthly Fee

Discharge Fee

Late Payment Fee

Key Features

Across Credit Union SA's range: 15 include an offset account, 47 offer redraw, 47 allow extra repayments, 47 support split loans.

Offset Account

32%

Redraw Facility

100%

Extra Repayments

100%

Split Loan

100%

Product Ranges

Credit Union SA's interest rates range from 6.04% to 9.14% p.a., maximum LVR from 60% to 96%, loan amounts span $20,000 to $100,000,000.

Interest Rates6.04% — 9.14%

Max LVR60% — 96%

Loan Amount$20K — $100.0M

Disclaimer: The key features displayed highlight what's available across the lender's home loan range. Individual products and variations may differ. Use the product table to search for a loan with the specific features you're looking for.

How Credit Union SA Compares

FEATURE	Credit Union SA	Australian Mutual Bank LTD	Hume Bank	Fire Service Credit Union	Newcastle Permanent Building Society
Best Variable Rate	6.04%	5.64%	5.99%	5.89%	5.99%
Best Fixed Rate (3yr)	6.74%	6.14%	6.39%	—	6.39%
Application Fee	$0BEST	$250	$199	$150	$350
Monthly Admin Fee	$0BEST	$0	$0	$0	$0
Offset Account
Redraw Facility
Product Variations	47	182	115	5	109

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Bheja Insight: Credit Union SA waives application fees, saving borrowers hundreds compared to other community-owned lenders.

About Credit Union SA

Company overview and contact information

Credit Union SA, established in 2009 through a merger, is a community-owned financial institution based in South Australia. Governed by a member-elected Board of Directors, it operates under the regulatory oversight of APRA as an Authorized Deposit-taking Institution (ADI) and holds both an AFSL and ACL (241066). With a strong community focus, Credit Union SA actively contributes to local initiatives through donations and partnerships.

Offering a diverse range of 25 home loan products with 47 variations, Credit Union SA caters to a wide array of financial needs. Their home loan rates range from 6.04% to 9.14%, providing competitive options for potential homeowners. The institution is committed to delivering accessible financial solutions through both branch and online services, ensuring convenience for its members.

What sets Credit Union SA apart is its dedication to community impact, exemplified by programs like the School Impact Program, which provides funding for educational projects. Members benefit from a range of discounts and waived fees on eligible products, enhancing the value of their financial services. This commitment to community and member benefits solidifies their reputation as a trusted, member-focused lender in South Australia.

Company Details

Legal Name: Credit Union SA Ltd

ABN: 36087651232

Established: 2009

Headquarters: South Australia

Ownership: community_owned

AFSL: 241066

Key Features

Credit Union SA offers flexible home loan solutions with features like fee waivers, offset accounts, and the ability to nominate a guarantor, providing significant value and convenience for borrowers.

Offset Account

Credit Union SA allows borrowers to link an offset account to their home loan, potentially saving up to $6,036 per year on interest with a $100,000 offset balance. This reduces the interest payable, helping borrowers pay off their loans faster.

Redraw Facility

A redraw facility is available on select Credit Union SA home loans, enabling borrowers to access extra repayments if needed. This offers financial flexibility, allowing funds to be used for unexpected expenses.

Extra Repayments

Credit Union SA permits unlimited fee-free additional repayments, enabling borrowers to reduce their loan balance faster and save on interest costs. This feature supports financial flexibility and faster loan repayment.

No Application or Monthly Fees

Credit Union SA waives loan application and monthly fees on select products, reducing the overall cost of borrowing and providing cost savings to borrowers.

Loan Structure Flexibility

Borrowers can structure their loans with multiple portions, each having different interest rates or features. This allows for tailored financial management to suit individual needs and goals.

Guarantor Option

Credit Union SA offers the option to nominate a guarantor during loan origination, which can assist borrowers in securing a loan with potentially better terms by reducing lender risk.

Online Banking Features

Credit Union SA provides comprehensive online banking features, allowing borrowers to manage their loans conveniently from anywhere, enhancing accessibility and control over their finances.

3-Year Fixed Rate Home Loan

This loan option provides certainty with fixed repayments for three years, ideal for borrowers with a strict budget. It includes no monthly fees, offering predictability and cost savings.

Variable Home Loan Package

For those seeking flexibility, this package offers a variable rate with an annual fee of $395, which includes benefits across home loans, credit cards, and more, providing comprehensive financial solutions.

Fees & Charges

Credit Union SA offers a transparent fee structure with a range of upfront, ongoing, and other fees that vary by product, ensuring borrowers are informed about potential costs.

Fee Type

Amount

Description

Application Fee

$0-$600

Charged for processing the loan application; varies by product.

Settlement Fee

$0-$300

Covers the cost of settling the loan; varies by product.

Rate Lock Fee

$600 or 0.15% of the loan amount

Secures the interest rate for a set period; the higher of $600 or 0.15% of the loan amount.

Annual Package Fee

$395/year

Non-refundable fee for maintaining the loan package.

Split Loan Fee

$150 for the first split, $100 per additional split

Applies when splitting the loan into multiple parts.

Mortgage Discharge Fee

$350 per mortgage

Payable when discharging the mortgage on the security property.

Security Handling Fee

$150

Covers the handling of security documents.

Solicitor's Fee

Variable

Legal fees incurred during the loan process; varies by case.

Progress Payment Fee

$750

Charged for processing progress payments in construction loans.

Early Repayment Adjustment

Variable

Calculated at the time of the ‘break event’ if the loan is repaid early.

Fees subject to change. Refer to lender documentation for current rates.

Eligibility Criteria

Credit Union SA offers home loans to Australian citizens and permanent residents, ensuring accessibility for a wide range of borrowers with flexible options tailored to individual needs.

At least 18 years old

Must be an Australian citizen or permanent resident

Provide detailed personal, financial, income, and living expense information

Submit 100 points of identification

Provide information about assets and liabilities

Loan to Value Ratio (LVR) must be between 60% and 96%

Lenders Mortgage Insurance (LMI) required for LVR above 80%

Interest-only repayments available only if LVR is 80% or less

Complete and sign the Package application form

Hold or be approved for an eligible home loan with Credit Union SA

Eligible for special programs like the Family Guarantee for first home buyers

Important Notes

LMI is required for loans with an LVR above 80%.
Special programs available for first home buyers and single parents under the Australian Government 5% Deposit Scheme.
Family Guarantee options can assist first home buyers.
Ensure all documentation is complete and accurate to avoid delays in the application process.

Credit Union SA Home Loan Pros & Cons

Our expert take on whether Credit Union SA is right for you

Pros

+Flexible loan structure with multiple portions
+Redraw facility available
+Potential savings over the life of the loan
+Family Guarantee available for first home buyers
+Quick and easy paperless application process

Cons

–Rates are generally above market averages
–High annual fee of $395

Best For

First home buyers using a family guarantee
Borrowers seeking low deposit options
Customers who value community-owned institutions
Those looking for cashback offers
Borrowers interested in flexible loan structures

Not Ideal For

Rate-sensitive borrowers seeking the lowest possible interest rates

💡

Bheja Verdict: Credit Union SA offers competitive home loan options with unique benefits for community-focused borrowers, though their rates are slightly above market averages.

Expert Secrets (Why Use Us?)

Insider knowledge about Credit Union SA that most borrowers don't know

LMI Cost Examples

1$650,000 purchase price with 5% deposit ($32,500) and 95% LVR ($617,500) requires LMI

2$650,000 purchase price with 15% deposit ($97,500) and 85% LVR ($552,500) requires LMI

3For a $500,000 loan at 85% LVR, LMI costs $6,000.

4At 90% LVR, the LMI for a $500,000 loan increases to $12,500.

Fee Waivers

Foreign cash ordering fee waived between 17 March 2026 and 17 March 2027.

Visa Credit Card annual fee waivers are available with certain home loan packages.

Offset Benefits

A $10,000 offset account can save approximately $50 per month, totaling $600 annually.

A $25,000 offset account can save approximately $126 per month, totaling $1,512 annually.

A $50,000 offset account can save approximately $252 per month, totaling $3,024 annually.

A $100,000 offset account can save approximately $503 per month, totaling $6,036 annually.

Admin & Logistics (The Help Desk)

Everything you need to manage your loan

Application Process

4 Steps

Submit Discharge Authority Form: Download and complete the Discharge Authority Form from the Credit Union SA website. (Tip: Ensure all sections of the form are filled out accurately to avoid processing delays.)

Pay the Discharge Fee: A $350 mortgage discharge fee is required. Ensure this payment is made promptly. (Tip: Verify the payment method accepted by Credit Union SA to ensure smooth processing.)

Coordinate with Lender for Settlement: Contact Credit Union SA to arrange the settlement date and finalize details. (Tip: Communicate any specific settlement date preferences early to avoid scheduling conflicts.)

Confirm All Fees and Costs: Check for any additional fees such as solicitor or registration fees that may apply. (Tip: Contact customer service at 13 22 24 for clarification on any potential additional costs.)

Processing Times

Discharge Process10-14 business days

Required Documents

Discharge Authority Form

💡

Pro Tips

Request the discharge at least two weeks before your intended settlement date to allow for processing time.
Double-check all form details and payment confirmations to prevent delays.
Contact customer service for any uncertainties; they can provide guidance and clarify steps.
Be aware of any additional fees that might not be immediately obvious, such as solicitor fees.
Keep a record of all communications and confirmations for future reference.

Credit Union SA Mortgage Calculator

Estimate your repayments using current Credit Union SA home loan rates

Over 30 years, borrowing $480,000 at 6.04%, total cost including interest and known fees could be around $1,634,460. Estimated monthly repayment: $2,416.00.

Home loan option

Property price

Your deposit

Loan term (years)Repayment frequency

Estimated total cost over 30 years

$1,634,460

Estimated repayment

$2,416.00

monthly repayment

Amount you borrow: $480,000 · At 6.04% · Interest-only repayments

We've estimated the rate after the fixed or intro period — confirm with your bank.

This loan can be split between fixed and variable. This estimate uses one option only.

Known fees in this estimate

Legal fee: $200
Document fee: $100
Monthly fee: $790 / month
Total ongoing fees (30 yrs): $284,400

How is this calculated?

Estimated total cost includes the amount borrowed, interest over the full loan term, and any upfront, ongoing, and discharge fees published by the lender. It does not include stamp duty, LMI, or savings from an offset account.

The revert rate is the rate your loan may switch to when a fixed, introductory, or interest-only period ends. Where a lender hasn't published this rate, we use an estimate.

Cost breakdown

Amount you borrow: $480,000
Total interest: $869,760
Upfront fees: $300
Ongoing fees: $284,400
Estimated total cost: $1,634,460

These figures are estimates only. Your actual repayments and costs may differ. Confirm all details with your lender before making a decision.
Where a lender hasn't published their revert rate (the rate that applies after a fixed, introductory, or interest-only period ends), we estimate it. Your repayments may change when this period ends.
Split loans and offset accounts aren't included in this estimate.
For product comparison and comparison rates, see the rates table above.

Still Unsure? Let a human handle it.

Not sure if Credit Union SA is right for you? Our brokers can help you compare options.

Frequently Asked Questions

Pre-approval with Credit Union SA is obligation-free and can help you understand your borrowing capacity. The process is usually quick, often completed within a few days.