Community First introduces a green personal loan under 4%

author-avatar By
on August 16, 2021
Community First introduces a green personal loan under 4%

Community First Credit Union slashed rates on its green personal loan, which can be used to fund "environmentally-friendly products".

Community First Credit Union has launched a new green personal loan at 3.99% p.a. (4.99% comparison rate*), a rate 'almost half' the previous rate.

The green loan can be used to fund borrowers' eco-friendly home installations, for example a solar hot water system or solar panels.

According to Community First, the product offers the "flexibility" of fee-free extra repayments. Customers can also redraw and pay out their loan early at no extra cost.

This green loan product is an unsecured personal loan for any amount from $1,000 and above, with a loan term of one to 10 years. A $10 monthly fee applies.

Green loans can be used to purchase the following:

  • Solar hot water systems and solar panels
  • Insulation
  • External awnings
  • Rainwater tanks
  • Double glazing
  • Grey water treatment systems
  • Energy efficient white goods and appliances
  • Electric motor vehicles

Community First chief, John Tancevski, said the credit union's award-winning green loans allow Australians to "make a personal contribution to a healthier eco-system".

"By launching a new Green loan with a rate of 3.99%p.a. we are not only ahead of the pack in this sector, we are also providing affordable funding for households to achieve sustainability success at home – a process that can deliver valuable energy savings," Mr Tancevski said.

Along with the new green loan, Community First has launched a "home improvement loan" with the same interest rate - 3.99% p.a. (comparison rate 4.99%*).

Mr Tanceveski said that this new loan is "a budget-friendly choice for home owners wanting to make home improvements on their owner occupied or investment property."

Image by Noah Buscher on Unsplash

Latest Articles

Rachel is a Finance Journalist, and joined Savings in 2021. Coming from a background in the FinTech space, her interests include the innovation of lending technology, property, investing, and more. With a passion for educating and informing people about their finances, she hopes to increase the financial literacy of everyday Australians.


Be Savings smart.
Subscribe for free money newsletters.

By subscribing you agree
to the Savings Privacy Policy