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NZCU Baywide loans

Get a choice of unsecured and secured personal loans, including loans for vehicle finance and debt consolidation, when you apply at the NZ-owned financial cooperative, NZCU Baywide.

  • NZCU Baywide has now merged with Unity Credit Union (trading as Unity). The information on this page is maintained for reference only.

If you’re looking for an alternative to borrowing from a bank you should consider applying for a personal loan at NZCU Baywide, a registered credit union. The cooperative offers loans from $2,000 to $60,000 and you can choose to secure your loan to reduce interest charges.

The lender started out as the Whakatu Freezing Works Employee’s Credit Union and expanded over time to become NZCU Baywide, providing personal financial products to customers all over New Zealand. NZCU Baywide has since merged with NZCU South, NZCU Central, NZCU Steelsands and Aotearoa Credit Union.

Finder NZ does not currently have access to this personal loan. Please review the loan details, application criteria and terms and conditions on the lender website if you are considering applying for this loan.

Types of loans from NZCU Baywide

NZCU Baywide is not a bank but an independent cooperative that offers an entire range of personal loans. Loans you can apply for include:

  • Unsecured personal loan. At NZCU Baywide you can borrow without security, with loans from as little as $2,000 on offer. Early repayment is free of charge, so you can save on interest if you repay your loan early. Your interest rate will be set at a level appropriate for your personal circumstances.
  • Secured personal loan. Alternatively, apply for a secured loan at NZCU Baywide which can help you obtain a larger loan amount, while also reducing your interest rate. You can pledge an asset, such as a car or a boat, as security.
  • Car loan. Finance your new or used car purchase with a loan from NZCU Baywide. You have a choice of securing your car loan, or you can choose to apply for a loan which is unsecured.
  • Debt consolidation loan. You may be able to consolidate multiple existing loans with high interest rates into a single loan via NZCU Baywide. Debt consolidation can lead to savings on interest charges in the long run, and a single loan is easier to manage and repay than multiple loans.

Features of an NZCU personal loan

Personal loans at NZCU Baywide have the following key features:

  • Flexible terms. Choose the term of your loan, subject to loan size and eligibility criteria. You can repay your loan within as little as six months or your loan can be repaid over as long as 7 years.
  • Early repayment. You have the option of increasing your repayments, making a large once-off payment or repaying your entire loan early. Additional payments will not attract a fee or charge, and you will save interest on your outstanding balance.
  • Same-day funds. If you have an account with NZCU, you can often receive approved funds on the same day. If your account is elsewhere you should receive your funds the next business day.
  • Secured or unsecured. NZCU Baywide will consider you for a loan, even if you hold no assets, but if you have an asset to offer as security for your loan you may qualify for a reduced interest rate on the loan.

What other products does NZCU Baywide offer?

The co-operative offers a number of savings and investment products, including:

  • Savings accounts. There are a few different savings options at NZCU, each suited to a different requirement. NZCU Baywide accounts offer a solid interest rate too.
  • Term deposits. If you can commit your savings to a term deposit you can get a higher interest rate on your savings. The longer the term of your deposit, the higher the interest rate.
  • KiwiSaver. NZCU Baywide can assist you with a KiwiSaver account, a great way to save for retirement as a KiwiSaver account can lead to top-ups thanks to government and employer contributions.
  • Personal overdraft. Apply for an overdraft with NZCU Baywide and access up to $2,000 instantly. You only pay interest on the amount you are overdrawn by and you can easily and quickly access your funds with a Mastercard.
  • Short term loans. With what NZCU Baywide calls ‘pocket loans’, customers can apply for a loan up to $2,000 over a two-year term. These have a 29% interest rate as standard and come with a $50 approval fee.
  • Home loans. NZCU Baywide offers home loans requiring as little as 10% deposit.

How to apply for a personal loan from NZCU Baywide

Apply for a personal loan at NZCU Baywide just as you would at a bank. Once you’ve compared your borrowing options click on the “Apply now” button on NZCU Baywide’s site to start the application process.

Eligibility requirements

  • Minimum age. You must be aged 18 or over.
  • Residency. To apply you must be a New Zealand citizen or a permanent resident of New Zealand.
  • Income requirement. There is no minimum income requirement but you must be earning a regular income to apply.
  • Credit record. You can apply if your credit history is in good standing.

Necessary documents and information

  • Proof of identification. You must provide a New Zealand driver licence which is current and valid.
  • Income details. The application form will require details of your current income, and your source of income.
  • Existing debt and expenses. NZCU Baywide will request details of your existing debts as well as your regular outgoings when you apply.

Compare alternative personal loans

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FROM 6.99%
The Co-operative Bank Unsecured Personal Loan
6.99% - 19.99%
6 months to 5 years
Eligibility: Be 18+, an NZ citizen/permanent resident, or have a valid work visa.
Floating-rate, unsecured personal loans from $3,000.
Lending Crowd Personal Loan
6.45% - 19.30%
2, 3 or 5 years
$350 - $650 depending on the amount borrowed
Eligibility: Be an NZ resident/citizen and have a good credit score.
Secured and unsecured personal loans from $2,000 to $200,000. 100% online with no paperwork or early repayment fees.
Nectar Unsecured Personal Loan
8.95% - 29.95%
6 months to 4 years
Eligibility: Must be 18+, an NZ citizen or permanent resident, have an income of $400 per week or more (after tax) and a stable credit history.
Unsecured loans from $1,000 with payouts made within one day of approval. Applications entirely online.
Save My Bacon Unsecured Flex Loan
12 to 36 months
Eligibility: Be 18 or over, have an income of at least $400 per week and be a NZ citizen, permanent resident or have a valid work visa.
Medium-term unsecured loans from $2,000 to $5,000 with no hidden fees.

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