Credit Union SA takes out Car Loan Lender of the Year award 2021

Credit Union SA is a customer owned Australian financial institution that is pushing boundaries in the loans market. 

There is no little doubt this lender has demonstrated a commitment to member service, community, and market competition over and above profits. 

In fact, the general philosophy of any customer-owned institution is customer before profit.

Australia’s community-focused institutions such as Credit Union SA emphasise member support above all other services and most importantly provide financial products such as transaction accounts, deposit and credit products and financial services – same as banks do. 

Credit Union SA is no exception and is a worthy winner of the InfoChoice Car Loan Lender of the Year 2021 – Customer Owned Institution.

Car Loan Lender of the Year 2021

InfoChoice has awarded Credit Union SA its Car Loan Lender of the Year 2021– Customer Owned Institution award for its ‘Online-only Special Fixed Rate Personal Loan’ product.

There were several reasons for handing this award to Credit Union SA, most notably its 4.25%pa rate (comparison rate 4.73%pa).

Their ‘Online-only Special Fixed Rate Personal Loan’ and the ‘Special Fixed Rate Personal Loan’ are available to members who secure a new or used vehicle that is less than 5 years old.

A further point of difference is that the loan is available when borrowing from as little as $5,000.

“This is a highly competitive car loan, with one of the lowest interest rates available,” InfoChoice CEO Vadim Taube said.

“We were impressed with the low 4.25%pa rate (comparison rate 4.73%pa), the repayment terms, the high maximum borrowing amount and the flexible payment options.”

“The InfoChoice awards recognise individual products that provide outstanding value to members and Credit Union SA’s ‘Online-only Special Fixed Rate Personal Loan’ product does just that.”
There are several notable features of the loan which make it an attractive offering. These include:

-Ease of application: Online application

-Loan available on new and used cars up to five years old

-Borrow from as little as $5,000

-No monthly or early repayment fees

-The ability to lock in your rate for up to seven years

-Flexible repayment options – weekly, fortnightly, or monthly

-No fees to redraw any extra repayments

“Credit Union SA are proud winners of the InfoChoice Car Loan Lender of the Year 2021- Customer Owned Institution award,” a Credit Union SA spokesperson told InfoChoice.

“The award pays tribute to our member-focused approach, which includes one of the most competitive rates on the market and loan terms that make it easy to repay your loan, your way.”

“We’d also like to highlight that as a local South Australian organization, our members are able to talk to our Adelaide based team through extended opening hours, which means help is available at times that are most convenient for our members.”

While there is an establishment fee, it should be noted that, as pointed out above, there are no monthly or redraw fees, making this one of the most competitive car loans on the market today.

Over 60 years of member commitment

Credit Union SA is here to help’.

That’s its mantra and it has been doing what it says for over 60 years.

Credit Union SA is proudly committed to strengthening local South Australian communities and has over 50,000 members.

None of its success would be possible without these members and the team working hard to meet their needs.

Credit Union SA is an authorised deposit-taking institution (ADI) and as with the banks, its members’ money is guaranteed by the Financial Claims Scheme – a government-backed safety net for deposits of up to $250,000 per account holder per ADI

Credit Union SA continues to develop and deliver a range of digital banking solutions members and offering competitive rates to its members at the same time.

Best of all, as there are no shareholders, its profits go back to its members and the local community.

That’s why it can offer comparison rates as low as 4.73% pa for products such as the ‘Online-only Special Fixed Rate Personal Loan’.

Comparison rate warning

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