Secured Loans

UCU has several options available for secured loan applications, in all cases offering security will greatly improve your chances of approval and in some cases even provide you with an even lower interest rate.  Listed below are the secured loan options with a brief description.

• Motor Vehicle - When applying for a personal loan for any purpose, you may choose to offer your vehicle as security.  UCU can lend up to 80% of the current value of a vehicle not more than 3 years old, 60% for vehicles between 3 and 5 years old and 50% for vehicles between 5 and 10 years old, but no more than $10,000 maximum.  When offering a Vehicle as security you will receive a lower interest rate than offered on an Unsecured loan.
  

• Call,Target Saver & UCU Term Deposit - You may choose to offer your current savings with UCU as security for your loan.  In this case you will be granted immediate approval and receive a great low interest rate.  The funds held as security will be frozen to match the outstanding balance on the loan.
  

• Insurance & Superannuation - If your policy has a current cash value or surrender value, UCU can lend up to or equal to that amount.  You simply need to arrange for your policy ownership to be transferred to UCU for the term of the loan.

Click here for a loan application form. 

Check our Rates & Fees page for the current loan terms and interest rates and have a look at our Loan Calculator to help you get an idea of the repayments.