Australia’s Best Credit Union brings hope to new home buyers in South Australia

Credit Union SA Joins Home Guarantee Scheme

5 July 2022

| Media Release

From 1 July 2022, South Australians seeking home ownership will have more opportunity as Credit Union SA becomes one of the select lenders able to offer the Australian Government’s Home Guarantee Scheme.

The Home Guarantee Scheme supports eligible first home buyers and single parent families to build or purchase a new home with a deposit as little as five per cent or two per cent respectively, without the need for Lenders Mortgage Insurance, also known as LMI. 

Credit Union SA Chief Executive Officer, Todd Roberts said: “we are thrilled to be part of the Home Guarantee Scheme, supporting even more South Australians to achieve their home ownership goals.

“The Scheme has already supported more than 61,000 people across the country in buying or building a home, and we look forward to providing our support under the Scheme.”

Alternative low deposit options for home buyers

In addition to the Home Guarantee Scheme, Credit Union SA is providing alternative options for South Australians that might not meet the Schemes eligibility criteria with a new range of low deposit home loans.

“We are committed to helping South Australians thrive now and into the future, despite economic challenges,” Mr Roberts said.

“We know that saving for a deposit is challenging. That’s why we are offering other pathways and helping more South Australians take steps towards a financially secure future with the Home Guarantee Scheme, our range of low deposit products and incredible member support services.”

Credit Union SA named Australia’s best

Credit Union SA’s commitment to helping more South Australians onto the property ladder is just one of the many reasons they were crowned Australia’s Best Credit Union* at the 2022 Mozo Australia’s Best Banking Awards.

Up against 90 different authorised deposit-taking institutes, Credit Union SA took out the top spot in their field by consistently offering the best value across their range of products.

“Being named Australia’s Best Credit Union is a huge achievement for us, and a real testament to our ongoing efforts to deliver market leading products and services for our members at every stage of their lives,” Mr Roberts said.

On top of Credit Union SA’s recent spate of awards, they have also broken their home lending records in both May and June.

“These results reflect all of the hard work our team have put in over the past twelve months, and also highlight that consumers are starting to look beyond the big 4 banks and recognising the benefits of a credit union for their lending needs.”

Find out more

Find more information about the Home Guarantee Scheme or book an appointment with our home loan specialists

Media contact

For more information contact Joann Skene, Senior Manager Brand & Business Developmentjskene@creditunionsa.com.a

About Credit Union SA

Credit Union SA is a South Australian based member-owned financial institution with over 50,000 members and more than $1 billion worth of assets. It is the third largest credit union in South Australia and offers the full range of financial services, including transaction and savings accounts fixed term investments, home loans, personal loans, credit cards and insurance.

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