NZCU South

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NZCU South Personal Loans

With interest rates from 7.9% and loan options to suit a variety of needs, NZCU South's mantra is to "Back New Zealanders who back themselves".

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  • NZCU South has now merged with Unity Credit Union (trading as Unity). The information on this page is maintained for reference only.
Credit Union South, trading as NZCU South, started its business in the South Island town of Nelson in 1962. With award-winning service, NZCU now provides finance for Kiwis throughout New Zealand. It offers a range of products including secured, unsecured, debt consolidation and car loans. No matter what your financial needs are, NZCU South may have just the loan to suit.

With low-interest loans starting at $2,000 (up to a maximum of $60,000), NZCU South will make a repayment plan specifically for you, so you don’t have to worry about overstretching your finances. Also, the quick application process helps you avoid queues, complicated paperwork, and alleviate financial worries that can occur during uncertain times.

Features of an NZCU South loan

  • Varied interest rates. The competitive annual percentage rate (APR) of an NZCU loan starts at 7.9% p.a. and up to a maximum APR of 25.90% p.a.
  • Affordable repayments, and a selection of repayment terms. NZCU works with you to tailor your loan to your needs and budget. The minimum term you can borrow over is 6 months, with the maximum being 7 years.
  • Quick online application. The online application only takes five to ten minutes to complete. When completing the application, it auto saves, so you don’t need to worry about losing your place. If you would like to talk through your application with NZCU South, you can give the team a call.
  • Top up your loan. NZCU allows you to top up your credit throughout its term. To do so, contact the lending team.
  • Dedicated lending team. With award-winning service, you can trust NZCU South’s experienced staff to assist with your queries. Their business hours are Monday through to Friday from 8am to 6pm. For the lending team, you need to phone 0800 536 328, or if you prefer, you can pop into one of their branches in Dunedin, Invercargill, Christchurch or Richmond.
  • Loan repayment insurance. NZCU South recommends that you protect yourself and your family from the unknown with loan protection insurance. It covers you in the event of redundancy, disability, trauma, loss of life and bankruptcy. You can choose to have only life insurance cover or opt for a combination.

Types of loans on offer from NZCU South

  • Personal loans. You can make use of a personal loan from NZCU South to finance just about anything, for example, home improvements, a holiday or even a boat. They provide low-interest personal loans throughout New Zealand and endeavour to personalise your repayment amount and terms. You can borrow up to 7 years at a competitive interest rate, with tailored repayments for your unique financial needs and budget.
  • Debt consolidation. If you have a problem keeping track of all your credit products such as credit cards or hire purchase, NZCU South can help you simplify your life with a debt consolidation loan. It leaves you with just one monthly payment and may save you a lot in interest.
  • Vehicle finance. As one of the leading New Zealand providers for vehicle finance, NZCU South can help you make a purchase sooner. Also, with a pre-approved loan, you have the cash available for better bargaining ability. Specialising in vehicles, the team provide quick loans and tailor-made finance, including repair loans, to help you get back on the road sooner.

    How to apply for a personal loan from NZCU South

    To decide if a loan from NZCU South is right for you, make sure you compare its rates and terms against other comparable lenders.

    Eligibility requirements

    • Minimum age. You must be over 18 years old to apply.
    • Residency status. You must be either a citizen or permanent resident of New Zealand.
    • Employment requirement. NZCU provides loans for people in a variety of employment situations. Therefore, you must be working either, full time or part-time. If you are on a casual contract or if you are a temporary worker, you need to show proof of a validated work record.
    • Work and Income benefits. If you receive benefits from Work and Income, they must be permanent for you to be eligible.
    • Address. You need to have a permanent or fixed address, which can be as an owner or renter. If renting, you may still be eligible if you are sharing a property and/or living with parents. NZCU South also uses the time you have been living at your current address to assess eligibility.
    • Co-borrowers. You can apply for a loan in conjunction with another person.

    Information and documentation

    • Identity. Please make sure you have proof of your identity, eg drivers licence or a valid current passport.
    • Credit Report. As a responsible lender, NZCU South requires that you have a satisfactory credit report.
    • Income. You need to provide details of your current income and its source on the application form.
    • Existing debt and expenses. When you apply, NZCU South request details of your existing debts and your regular outgoings.


    Additional services offered by NZCU South

    • Savings accounts. Accounts are available for short or long terms goals and offer competitive interest rates.
    • Investments. You can check out the investment opportunities NZCU South provide with flexible terms and competitive interested rates.
    • Insurance. Ask about the options available to cover you and your family to allow peace of mind.
    • KiwiSaver. The Fisher Funds KiwiSaver Scheme is available, which helps you save for your first house or retirement.

    NZCU South trades under Credit Union Baywide and is registered with the Registrar of Financial Service Providers. Their registration number is FSP 27482.

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