It's a life changing experience

A chance to Spin & Win up to $500k off your eligible home loan1.


T&Cs: Settle by 21/5/20. Authorised under NSW LTPS/19/38520. AFSL/ACL 245576.

Apply now!

It's simple

1

Apply

Apply for one of our range owner occupier. investor, variable, fixed, principal & interest. & interest only home loan options.

2

Settle

Be approved and draw down at least $150k of your eligible credit union home loan by 21st May 2020 to be automatically entered into the draw' For full T&Cs refer to our important notes.

3

Draw

On the 28th May 2020 one person will win the Major Prize Draw and be invited to Spin to Win.

4

Spin

On the 20th June 2020 the Major Prize Draw Winner will attend our Spin to Win Event for the chance to win up to $500k off their eligible home loan.

Great home loan rates for all situations

The Works Home Loan

variable rate (P&I) home loan

Variable interest rate

3.19% p.a.

Comparison rate*

3.50% p.a.

For new owner-occupied P&I home loans $150k and over

more information


Things you need to know

A home loan that offers the works, with a minimum loan amount of $150K.  Available to borrowers who meet the Credit Unions standard lending criteria. Click here to view the Home Loan Key Facts Sheets.

interest & fees

Interest is calculated daily on the outstanding balance and charged monthly in arrears on the last day of each month. Refer to our rates and fees for more information.

For a limited time:

  • Annual fee of $250 – refunded for the first year1
  • Application fee: waived (usually $600)
  • Valuation fee: refunded
  • Legal fees: refunded

Other fees may apply.


Interest rate Comparison rate*
Variable Principal & Interest 3.19% p.a. 3.50% p.a.
Variable Interest Only (1 year) 3.65% p.a. 3.95% p.a.
The Works Principal & Interest Reference rate 3.84% p.a. 4.14% p.a.
The Works Interest Only Reference Rate 4.30% p.a. 4.59% p.a.

Refer to the Credit Fees and Charges brochure and Fees, Charges and Transaction Limits brochure for more information.

Fixed Home Loan

2 year fixed rate (P&I) home loan

Fixed interest rate

3.30% p.a.

Comparison rate*

3.84% p.a.

For new owner-occupied fixed home loans $250k and over

more information


Things you need to know.

Borrow $250K or over to buy your new home, or refinance your existing loan. After your fixed term expires, it will revert to the Variable interest rate.

Our Fixed Home Loan is available to borrowers who meet the Credit Unions standard lending criteria. Click here to view the Home Loan Key Facts Sheets.


Interest is calculated daily on the outstanding balance and charged monthly in arrears on the last day of each month. Refer to our rates and fees for more information.

Fees applicable to this product include:

  • Application fee: waived (usually $600)
  • Valuation fee: at cost
  • Legal fees: at cost
  • Other fees may apply

Refer to the Credit Fees and Charges brochure and Fees, Charges and Transaction Limits brochure for more information.


Fixed term Interest rate Comparison rate*
1 year fixed (P&I) 3.30% p.a. 3.89% p.a.
1 year fixed (IO) 3.95% p.a. 3.95% p.a.
2 year fixed (P&I) 3.30% p.a. 3.84% p.a.
2 year fixed (IO) 3.99% p.a. 3.96% p.a.
3 year fixed (P&I) 3.25% p.a. 3.78% p.a.
3 year fixed (IO) 3.90% p.a. 3.94% p.a.
5 year fixed (P&I) 3.80% p.a. 3.97% p.a.
5 year fixed (IO) 4.09% p.a. 4.58% p.a.

 

important notes

1 Spin & Win

Promotion starts 12.01am 1/10/2019. Ends 11.59pm 21/5/2020. Open to NSW, VIC, QLD, WA, NT & TAS residents 18+ who fulfil the entry/eligibility requirements. Prize draw 11:00am 28/5/2020 at 38-40 Young Street Wollongong NSW 2500. The Major Prize Winner will be notified via phone and email on 28/5/2020. The Major Prize Winner’s details will be published on ICU’s Facebook page, at www.illawarracu.com.au and in The Australian newspaper on 10/6/20. The Spin & Win Event will take place at 11:00am on 20/6/20 at 38-40 Young Street, Wollongong NSW 2500. Promoter is Illawarra Credit Union Limited. 38-40 Young Street Wollongong NSW 2500, Phone 13 22 49. ABN 14 087 650 771. AFSL/Australian credit licence 245576. Authorised under NSW Permit No. LTPS/19/3850. For full terms and conditions please refer to Spin to win T&Cs.

To enter the Promotion, an Eligible Entrant must:

  1. be approved and offered an Eligible ICU Home Loan^ of over $150,000 between 1 October 2019 and 21 May 2020; and
  2. draw down at least $150,000 (excluding fees and charges such as capitalized interest, lenders mortgage insurance, legal fees, valuation fees, annual fees, switch fees, etc.) under the Eligible ICU Home Loan between 1 October 2019 and 21 May 2020; and
  3. keep the Eligible ICU Home Loan active# at the date of the Major Prize Draw (28 May 2020).

^An Eligible ICU Home Loan is any Illawarra Credit Union home loan product or a split loan over Illawarra Credit Union home loan products (provided the products are taken at the same time) which is secured by a mortgage or other security granted in favour of ICU over a residential investment or owner occupied property and which loan is:

  • in the name of Eligible Entrant(s) only;
  • for the purpose of purchasing a property or refinancing an existing loan held with another financial institution; and
  • not a bridging loan.

# An active loan is a loan that has not been repaid as at the date of the Major Prize Draw.

Any advice given is of a general nature only and does not take into consideration your personal circumstances. Please consider the appropriateness of the advice before acting. Lending criteria, t&cs, fees & charges apply for loan products. Applications for credit are subject to Illawarra Credit Union’s credit approval criteria.  Please refer to our Financial Services Guide for more information about us.

QBE products

2 Terms, conditions and acceptance criteria apply. Cover limits apply as set out in the policy wording. This material does not take into account your personal needs, objectives and financial circumstances and you should consider whether it is appropriate for you. Please read the Product Disclosure Statement to decide if a product is right for you. Multi-policy discount is available on your first policy after renewal and is only available for Home, Landlords and Motor Vehicle policies that are purchased through the same financial institution. Insurance issued by QBE Insurance (Australia) Limited ABN 78 003 191 035 AFS Licence 239545. Illawarra Credit Union will not be held responsible for the information contained within a site accessed via this site. Should you enter another site through such links, the content will not have been produced, checked for accuracy, or reviewed by the Credit Union. Any endorsements or any opinions offered are not necessarily those of the Credit Union.

Illawarra Credit Union home loans

*Comparison rates are calculated on a loan amount of $150,000 over a term of 25 years.  WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Eligibility criteria, terms & conditions, fees & charges apply. Please refer to the Credit Fees and Charges brochure. 

The works home loan & The works investment home loan: 1.First-year annual fee is refunded (refund is on offer for a limited time). Annual fee payable yearly. Variable rate shown is for new owner-occupied loans $150,000 and over.

Variable home loan: Variable rate shown includes 0.90% p.a. discount off the Standard Variable rate.  Variable rate shown is for owner occupied loans $250,000 and over. 

Variable Lite home loan: Variable rate shown is for owner occupied loans less than $250,000. 

Fixed home loan: Fixed rate shown is for owner occupied loans $250,000 and over.  Fixed rate reverts to our Variable rate after the fixed period. 

Fixed Lite home loan: Fixed rate shown is for owner occupied loans less than $250,000.  Fixed Lite rate reverts to our Variable Lite rate after the fixed period. 

Variable Invest home loan: Variable rate shown includes 0.75% p.a. discount off the Standard Variable Investment rate.  Variable rate shown is for investment loans $250,000 and over. 

Variable Invest Lite: Variable rate shown is for investment loans less than $250,000. 

Fixed Invest home loan: Fixed rate shown is for investment loans $250,000 and over.  Fixed rate reverts to our Variable Invest rate after the fixed period. 

Fixed Invest Lite home loan: Fixed rate shown is for investment loans less than $250,000.  Fixed Invest Lite rate reverts to our Variable Invest Lite rate after the fixed period. 

2 year introductory variable home loan: Variable rate for new owner occupied principal and interest loans $250,000 and over. Maximum loan-to-value ratio of 80% applies.  2.Reverts to the Two Year Variable Home Loan Reference Rate on expiry of the 2 year introductory period.