What is GO SiXTY PLUS?
A product package designed for over 60s…
These days, we are living longer and healthier lives but, one challenge we face, is how to afford it. Many retirees find themselves asset rich and cash flow poor due to a significant amount of their wealth being tied up in their family home or retirement village unit. If this is you, consider GO SiXTY PLUS. It has unique benefits, services and products to help you maximise the potential of your assets, so you can live life, better.
Our GO SiXTY PLUS, Relationship Manager, is dedicated to working with you one-on-one to help achieve your goals and aspirations, while advising you on products and services that best suit your needs.
Meet the Relationship Manager
Linda Ginever has worked in the financial services industry since 1990, and first joined Police Credit Union in 2010 as a financial planner. She is passionate about assisting seniors, and is a dedicated advisor of our unique product package for over 60s.
“Police Credit Union and their staff have been nothing short of fantastic and it’s a credit to both the organisation and the personnel within it.
Earlier this year, I was in a financial bind whereby I would either have to sell my home or gain some form of loan without having sufficient income to make repayments. Enter, Linda Ginever…
From the moment I met this wonderful lady, I felt quite comfortable in her assisting me with my financial dilemma. She was informative, supportive and always kept me in the loop…even sacrificed her own personal time to assist me where others may have left me in the dark until their return to work. I feel privileged to be a member of Police Credit Union and know someone special was looking after my needs. It is a rare thing today to find people going the extra yards to help someone else, but Linda certainly did.
I cannot speak highly enough of Linda and felt blessed to have her assist me. And, as a result, I’m still residing in my own home and the financial dilemma has disappeared”. – Kyle, Member for over 50 years
“I have talked to a number of people about the proactive approach that the Police Credit Union has in assisting senior Australians to downsize. In our situation, we were reluctant to sell our house early and move into a rental situation. I’m not sure of any other financial institution as accommodating and supportive as yours. So, I would like to congratulate Police Credit Union and Linda in particular for making it a much less stressful situation for us to finance our new home”. – Theresa, new member
Get in touch
Bridge to Retirement
This product is specifically designed to facilitate a simple, smooth transition into a smaller property, retirement village or to pay for entry into an aged care facility. This is a bridging finance option secured against your existing home property.
Funds (up to 75% of the value of your existing home) are provided in advance, allowing up to a 12 month (maximum) term to sell your existing home, at which time the bridging loan (and any interest that has capitalised to the loan) is repaid in full.
Features of the loan include:
- Variable interest rate loan – access the current interest rate on our Go Sixty Plus Interest Rate Schedule under Bridge to Retirement Loan
- Interest can be capitalised to the loan – you do not need to make regular interest repayments to the loan, although this is an option
- Interest is calculated daily and compounds monthly to the loan (if repayments aren’t made)
- No penalties for early repayment during the 12-month (maximum) term
Home Care Services Loan
This home loan is tailored to help you remain in your own home for as long as possible, with the support of service providers.
If you own or are close to owning your property freehold, you can access some of this wealth to fund for example, home care services, home improvements, new or replacement vehicles, travel or medical expenses.
Key features include:
- Variable or fixed rate home loan – access the current interest rates on our Go Sixty Plus Interest Rate Schedule under Home Care Services Loan
- Minimum loan amount is $20,000 with principal and interest repayments to be made weekly, fortnightly or monthly
- Maximum term of the loan is determined by the applicant(s)’ life expectancy at time of application, with consideration of their needs and debt exit strategy
Financed through Heartland Seniors Finance (HSF)1, this loan allows you to borrow money using equity in your home as security.
- Maximum loan amount determined by your age and property value
- Funds can be used for almost anything that helps you live a more comfortable retirement (e.g. home improvements, day to day expenses, new or replacement vehicles, debt consolidation, mortgage refinance or medical expenses)
- Funds can be issued via lump sum, regular income stream, cash reserve (like a ‘line of credit’) or a combination of these
- No repayments required until end of the loan
- Interest compounds monthly and is added to loan balance
- Remain the owner of your property and continue living there as long as you choose
- Can provide more flexibility than the Federal Government’s Home Equity Access Scheme
- HSF guarantee no negative equity – the amount required to repay the loan will never exceed the net sale proceeds of the property
Obtaining legal advice is mandatory before committing to a Reverse Mortgage. We recommend you obtain advice from appropriate services such as a Centrelink Financial Information Service (FIS) officer and/or a financial planner. Please also consider any impact on your Social Security benefits, future aged care needs and leaving your home to beneficiaries with or without a mortgage.
Lifestyle Personal Loan
This loan is ideal for those residing in an approved retirement village, wishing to access equity secured against their ‘license to occupy’ for any worthwhile purpose (excluding debt consolidation).
Exclusive to Police Credit Union, this loan includes the following key features:
- Variable interest rate loan – access the current interest rates on our Go Sixty Plus Interest Rate Schedule under Lifestyle Personal Loan
- No monthly account keeping fees
- No early termination fees
- 5 Year maximum loan term
- Minimum loan $5,000
- Maximum loan $50,000
- Principal and interest repayments to be made weekly, fortnightly or monthly
Flexible everyday access accounts with better rates, less fees and benefits such as:
- No monthly or account keeping fees
- Fee-free over-the-counter branch withdrawals, direct credits (pension, superannuation etc)
- 24/7 secure Phone Banking and Online Banking access including our Banking App
- Competitive, stepped interest rates with funds at call
- 0.05% bonus interest on all standard fixed term deposits2
- No minimum deposit, withdrawal or account balance
Let our staff help you pay your bills
View Only Access
Not confident using Online Banking or our Banking App? Call us on 1300 131 844 to register and we can guide you through the process.