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Secured Loan

Need to access some money but don't want to dip in to your savings?

If you have Credit Union savings, we can offer you a Secured Loan up to equal your balance - at a very competitive rate. Just agree to leave savings in your account equal to the amount of your Loan balance as security. As your Loan balance reduces, your secured savings amount will too.


  • Borrow up to your savings balance

  • Fixed interest rate – 0.75% per month on reducing balance (9.4% APR)

  • Same day/visit decision

  • No credit checks or affordability checks

  • No restrictions on 'top-ups'

  • No hidden fees, charges or repayment penalties

  • Interest charged on outstanding balance only

How to apply

Secured Loans are available to existing members only.

1) Complete a loan application here detailing repayment terms.

2) Sign a loan agreement which can be sent securely for e-signing or you can sign in branch.

3) We issue your loan funds!

Frequently asked questions

Who can apply for a Secured Loan?

You must be: a) a member of SaveEasy Credit Union, b) have a savings balance in your Credit Union account, c) agree to leave a minimum of savings in your account equal to your Secured Loan balance, d) aged over 18.

How can I apply for a loan?

Complete a secured Loan application form and return it to us.

Do I need to prove my income?


Do I need to be employed to apply for the loan?


Do you do a credit check?


How long does it take to make a decision?

If you are applying in branch, you will receive a response upon completing the application form.

How much can I borrow?

Up to the total amount of unattached savings.

When can I apply for another Secured Loan?

Once you have savings which are unattached from your existing secured loan.

Can I apply for the Secured Loan if I already have another SaveEasy Credit Union loan?


Do you offer joint loan accounts?

Not currently.

How do I repay my loan?

All loans are to be repaid by bank standing order, cash, cheque, card payment or by payroll deduction.

How often must I make repayments?

According to the frequency of when you receive your income. Repayments should be made regularly (weekly, fortnightly, 4-weekly or monthly).

How do I collect my loan money?

We can transfer money to your bank account. By arrangement, you can collect cash from our offices. If you wanted to use your loan money to pay any existing credit or bills, we can arrange to pay these for you.

What interest do I pay?

9.4% APR

How is interest applied?

It is applied to your loan daily and calculated on the outstanding balance. This means that if you settle your loan early you will pay less interest.

What term do I pay my loan over?

Up to five years.

Are there any penalties or hidden charges for clearing my loan off early?


How often will I get a statement?

Statements are provided upon request, or you can check your balance by registering with us on our website.

Can I still save with the Credit Union if I have a loan?

Yes. We encourage members to save regularly.

What if I miss a payment?

SaveEasy Credit Union hold the rights to deduct your loan payments from your savings.

All loans provided by SaveEasy Credit Union are subject to status and our lending policy. Applicants must be aged over 18. The Credit Union reserves the right to decline any application or offer a loan that differs from those advertised

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