Green loan

You can finance or refinance eligible green purchases. These include electric or hybrid vehicles and their charging stations, solar panels, home batteries, solar water heaters, insulation, efficient heating or cooling, double glazing, water capture and recycling, and rainwater or stormwater tanks. Household appliances must have a rating of at least five stars.

If you use a car as security for a secured loan, the lender can sell it to recover the debt if you cannot make repayments. With unsecured car finance, your car is not taken as security.

Borrow at least A$5,000. The published secured-loan limit is A$100,000 and the unsecured limit is A$30,000; Credit Union SA may consider higher amounts. Repay the loan with interest over a term of up to seven years, with the interest rate fixed for the life of the loan. Repayments can be weekly, fortnightly or monthly.

If you have an active Credit Union SA home loan, the published annual interest rates are 5.64% secured or 7.29% unsecured. Without an active home loan, they are 6.99% secured or 8.29% unsecured.

There is no monthly loan service fee or early repayment fee. The A$250 establishment fee is waived if, at application, you have a Credit Union SA home loan, qualify for Knowledge Counts banking benefits or the Workplace Banking Program, or are a Port Adelaide Football Club member. An A$90 security-processing fee applies when a motor vehicle secures the loan. Late-payment letters are free for the first letter and A$15 thereafter when an unpaid repayment remains overdue for at least three days.

Knowledge Counts benefits can cover current or former South Australian education-community employees, students training as educators, and their parents, children, grandparents, grandchildren, siblings and partners. Workplace Banking Benefits can cover current SA Power Networks employees.