borrowing frequently asked questions
What is mecu's current interest rates on Credit Cards, Personal, Car & Home Loans?
Please refer to mecu 's interest rate's on our website or contact mecu for further information.
How do I re-draw from my Home Loan?
If you wish to re-draw from your loan. Please contact mecu on 132 888 to arrange this over the phone or log on to your internet banking to re-draw online.
Can you tell me how the 55 day interest free credit card works?
The card has up to 55 days interest free. This means that if you pay the balance owing at the end of the month on the 24th of the following month, you can use the card without paying any interest on VISA and BPay transactions.
How much can I borrow?
Please refer to mecu 's "How much can I borrow calculator" located under calculators.
How do I find out my pay-out figure on my loan?
To find out your current payout figure. Please contact mecu 's lending department on 132 888 for further information.
With the interest rate rise, what are my new repayments and when do they begin?
You will be advised of your new repayments via a letter in the mail and your new repayments will take effect approx 28 days later.
How do I apply for a loan?
If you wish to apply for a loan with mecu you can submit your application either by telephone, online via our website, mail or fax or you can make an appointment at one of mecu 's services centres.
What are the repayments for $5,000 over 5 years for a Personal Loan?
Please refer to mecu 's "What will my repayment be calculator" Located under calculators.
How long will it take to get an answer for my loan?
Once you have submitted your application mecu will generally have an answer for you within 24-48 hours.
What is involved in paying out and discharging my mortgage?
mecu require your request in writing via fax or mail with your signature. This process may take approx 3 - 5 weeks.
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