Personal loans still popular with credit unions

Banks have been cutting back on unsecured and personal lending such as credit cards and personal loans but credit unions are still in the marketplace with good deals on loans. Queensland Police Credit Union executive manager, corporate services, Stephen Howell, says: "The credit union sector has been relatively undamaged by large jumps in bad debts the banks have experienced. It is business as usual for us." Credit unions make up six of the 10 lenders offering the most competitive secured personal loan rates, according to Infochoice. They include Gateway, United Community, Credit Union Australia, Bananacoast and RegionalOne.

Source: The Age