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Personal Loan acceptance FAQs

Personal Loan acceptance

  • What happens after I accept my Personal Loan documents in Internet Banking?

    Once you have accepted the loan documents we will be notified to finalise your loan and we’ll be in touch as soon as it’s been completed.

  • What does “adding fees and charges” to my Personal Loan in Internet Banking mean?

    You would have discussed fees and charges when originally applying for your loan. Generally, we add your fees and charges to the loan amount, including an establishment fee and security fee when applicable. This way you won’t have any immediate ‘out of pocket’ expenses. If you have any questions about your fees, please call us on (08) 8202 7777 or send a Secure Mail in Internet Banking.

  • What are disbursement instructions?

    Disbursement instructions are the instructions you have already provided our team to finalise the loan and refer to how and to whom we pay the money (e.g. corporate cheque made out to a car dealer, electronic transfer to an account, etc). If your disbursement instructions don’t look familiar or you need to make any amendments you can call us on (08) 8202 7777 or send a Secure Mail in Internet Banking.

  • How do I set up repayments?

    Your first repayment won’t be due for about four weeks, however we recommend you organise the way you would like to repay your loan soon after your loan has been funded. If possible, we suggest aligning your repayments to your pay cycle, and you can make additional repayments on top of the minimum repayment if you like.

    There are a couple options to repay your loan, including:

    • Setting up a scheduled payment from your Credit Union SA account by:
      • Logging into Internet Banking
      • Select Payments > Transfers from the top navigation bar
      • Choose the ‘From’ and ‘To’ accounts
      • Input the ‘Reference’ and ‘Amount’
      • Select Schedule Payment on the left-hand side and follow the prompts
    • Transferring repayments directly into the loan from a different credit union or bank using the BSB and account number we will provide you in your confirmation email
    • Visiting our King William Street branch and depositing cash or a cheque for the repayment

    If you have any questions, please do not hesitate to contact us on (08) 8202 7777 or send a Secure Mail in Internet Banking.

  • How do I setup redraw in Internet Banking on my Personal Loan account during my online loan acceptance?

    Your Personal Loan has a redraw facility that you can access provided you are far enough ahead on your repayments. To activate this feature all borrowers need to select ‘Yes’ to the loan redraw question within Loan Setup. Should you have more questions about this, please feel free to us on (08) 8202 7777 or send a Secure Mail in Internet Banking.

  • What is a service nomination?

    Your service nomination refers to who, in a joint borrower situation, receives things like statements and notifications for the loan. If you would like only one of you to receive these, nominate one person. If you would both like to receive notifications about the loan no action is required. For a loan in one name you don’t need a service nomination as you’ll receive the loan notifications.

  • How can I access my loan documents in Internet Banking?

    To access your loan documents in Internet Banking:

    1. Log into your Internet Banking
    2. Click on the Apply for icon in the top navigation bar
    3. Select Loan Status
    4. If you are accepting new loan documents, select Open loan documents from the Action column
    5. If you want to review documents for your existing loan, simply select Documents

    If your new loan is in joint names, then each borrower will need to log in to Internet Banking to accept the documents.

    You can also save a copy of the loan documents at the time of acceptance to your device for future reference. But if you need a copy in future you can always contact us on (08) 8202 7777 or send us a Secure Mail in Internet Banking.

  • What happens to my Personal Loan application if Internet Banking automatically logs out?

    Keep in mind, Internet Banking may time out after 10 minutes of inactivity. If this happens, you will need to begin your Personal Loan application acceptance again. But please don’t rush through this step. It’s important to read your loan documents carefully before you accept them. If you have any questions about your loan documents you can call us on (08) 8202 7777 or send a Secure Mail in Internet Banking.