Lean and green is what set Transport Mutual Credit Union apart

Transport Mutual Credit Union looks to have all bases covered when it comes to car loans. From petrol to diesel to hybrid and electric vehicles, the company offers competitive rates and other advantages to not only meet a customer’s driving needs, but in some cases their sustainable needs as well. Transport Mutual Credit Union is a worthy winner of the InfoChoice Car Loan Lender of the Year in the customer owned institution category.

Modes of transport may have progressed into vehicles that would be unrecognisable 50 years ago, but what hasn’t changed is the need to fund a new purchase.

When it’s time to upgrade or replace your old mode of transport, you need funds – and those funds usually come in the form of a loan from a reputable car loan provider.

Whether it’s an e-bike, electric vehicle (EV), hybrid vehicle or standard petrol vehicle, Transport Mutual Credit Union has a loan to suit all needs.

As something left of field, and as part of its GreenRoad loan, Transport Mutual Credit Union also provides loans for solar panel systems and installation and battery storage units and installation.

However, it is its car loans that have captured InfoChoice’s attention.

Given the strength and outstanding features of its car loans, Transport Mutual Credit Union has won two product awards in the 2021 InfoChoice Banking awards:

– Car Loan Green – Variable Rate

– Car Loan New – Variable Rate

“Transport Mutual Credit Union has two outstanding products when it comes to car loans. Its new variable rate loan met all our criteria when we were assessing this loan for our awards including a competitive interest rate and loan terms,” InfoChoice CEO Vadim Taube said.

“Meanwhile, the lender’s unique green loan product was also punctuated by its highly competitive variable rate, minimum loan amount and its dedication to sustainable driving practices.”

Breaking down the loan features

1. Car Loan Green – Variable Rate

Transport Mutual Credit Union’s GreenRoad loan is designed to put the environment first, understanding that a clean environment means a clean future.

“It is in our DNA here at TMCU, to be very supportive of the growth of sustainable transport options,” a Transport Mutual Credit Union spokesperson told InfoChoice.”

“Our environment is our future and we want to make it easy for people to buy a car that contributes to sustainable values.”

The company’s latest initiative is GreenRoad, a green loan for electric or hybrid vehicles, and the means to power them.

Transport Mutual Credit Union is also now financing bicycles including e-bikes.


The GreenRoad features include no ongoing fees, a low variable interest rate of 4.74% (*Comparison rate 5.04%) and the ability to make extra repayments at any time.

Here’s a look at the features that helped win Transport Mutual Credit Union the Car Loan Green variable rate award.

The GreenRoad loan is a fully drawn advance loan used for electric vehicles, hybrid Electric vehicles, solar panel systems and installation, nattery storage units and installation.

It is a principal and interest rate with a minimum loan amount of $5000 and a maximum loan amount of $150,000 (if you’re looking a top of the range Tesla or Mercedes.

The minimum loan term is one year and the maximum borrowing term is seven years. 

It should be noted that there is a $225 application fee and $35 late fee, but no service fee. It is a highly competitive loan in a new field.


2. Car Loan New – Variable Rate


This multi award winning car loan can see you drive away in a new or used car that is up to three years old. The loan is also available for caravan and RVs.

One of the highlights is the loan’s free redraw facility.

Here’s what to expect from the loan.

Transport Mutual Credit Union’s Car Loan – New is a Fully Drawn Advance Loan for the purchase of a car up to three years old.

It is a principal and interest loan with a minimum loan amount of $5000 and a maximum loan amount of $150,000. Borrowers can take between one year and seven years to pay down the loan.

The interest rate is highly competitive at 4.99% (*Comparison rate 5.29%).

As with the GreenRoad loan, there is a $220 application fee and a $35 arrears fee.

The real bonus, however, is the redraw facility.

Borrowers have access to a free redraw facility with a minimum $1,000 redraw.

There are no penalties for extra payments, no ongoing monthly fees or early exit fees and only 10% deposit is required.

Keeping members on the road

Transport Mutual Credit Union was established in 1964, as Main Roads Staff Credit Union and was dedicated to supporting the financial needs of staff of the NSW Department of Main Roads and their families.

It has undergone a few name changes since, however in 2021 the Credit Union Members voted to change the name to Transport Mutual Credit Union to reflects a more inclusive approach to business growth, including members in the broader transport industry.

The Transport Mutual Credit Union is committed to providing exceptional service at great rates to its members and this approach has allowed it to innovate its products as it has matured.

Today, Transport Mutual Credit Union is dedicated to safe, affordable travel that reflects the times in which we live and that is reflected in InfoChoice’s decision to award the institution for its standard car loan, along with the GreenRoad loan.

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