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Better Products

Our Better Banking products will give you what you’ve been looking for. Whether it’s a loan rate, savings account, credit card, overdraft or insurance advice – we’ve got you covered. We also have all the financial planning advice you could want to give you a better future.

And, because we listen to our Members, our products keep getting better and better.

Better Access

Our range of better access products and services give you control of your accounts whether you’re online at your desk, on your mobile, travelling overseas or in a branch.

Learn more about having every option at your fingertips. You’ll be better off!

Better Security

With our Guardian Fraud Protection Service and our fraud experts, Police Credit Union is committed to providing you with a secure banking environment and to denying funding to organised crime.

Security and Protection? Who better than Police Credit Union.

Better Banking Tips

We are all looking for ‘better’.

Especially when it comes to reaching your financial goals so you can get the things that you want while you can still enjoy them. This is where Police Credit Union can help.

So what do you want to do? We have put together a range of tips and advice to help you reach your ‘better’.

About Us

Since 1970, Police Credit Union has helped thousands of South Australians and Territorians achieve their financial goals and dreams with our range of better products and services.

Let’s get to know each other, even better.


Providing financial support and volunteering for events for charity, sporting associations, Christmas pageants and partnership initiatives are just the start of what we do under our Plant the Seed initiative.

Plus, of course, we’re constantly sharing the latest insights, tips and innovation when it comes to economic, technological and financial trends.

We’re always better, together.

rediATM Locator

Find your closest rediATM by searching below.

Find a branch

Want to come visit us? Search below to find your closest branch.

Construction Loans

A better way to build

Building a new home, or taking on a major renovation?

Building or major renovation projects can be challenging, especially when it comes to cash flow. A Police Credit Union construction loan can make the process easier. We see ourselves as a critical part of your project team, and will ensure funds are available so your project can be completed smoothly.


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What are construction loans?

Our construction loans are straight-forward home loans, with additional building conditions that ensure funds are available when needed. We have a range of loan products we can tailor to suit the needs of your project.

Features of our construction loans include:

  • Availability to fund construction of new homes or major renovations of existing structures
  • 12 months to complete a project (option to extend, if needed)
  • Progressive draw down at each stage of a project, so you’ll only pay interest on funds drawn down
  • ‘Interest-only’ payments applicable throughout a project, reverting to ‘Principal & Interest’ upon completion

What are the benefits?

Construction loans allow you to access a portion of approved funds as your project progresses, rather than the full amount in a lump sum. Funds are typically drawn at each major stage of your project, meaning you’ll only pay interest on what you have drawn down.

‘Interest-only’ repayments throughout the project will also help keep costs down as your project progresses.

Typical construction project

Serving as a general guide, the table below outlines what is involved in the typical building (or major renovation) project.

Construction Stage What’s involved?
Groundwork Loan pre-approval, planning, permits, utility connection, insurance, etc.
Foundation Concrete slab / footings and base brickwork
Frame House frame completed, with approval from surveyor / inspector
Lock-up Installation of windows, doors, roofing, exterior fixtures and insulation
Finishings Cabinetry, appliances, plumbing, electrical, flooring, plastering, painting, etc.
Completion Fencing, clearing site and final payment. This may also include additional contracted works (eg. landscaping).

No matter how complicated your project may be, we can structure your loan to suit your needs.

Progressive Drawdowns & Inspections

An ‘as if complete’ valuation (estimated market value of land and proposed building / renovation) will be required once your loan is pre-approved. Follow-up inspections and valuations may be necessary to be certain your project is proceeding as per plan and budget.

We will also work with you to establish a progressive payment schedule, guiding release of approved funds at each stage of construction. Builders’ invoices and progress claim certificates may be required to issue funds to your registered builder. Itemised invoices and receipts along with other conditions, may be required where you are an owner-builder.

More Information

Speak to one of our loans officers today for further information concerning:

  • Documentation needed to arrange your loan;
  • A range of insurances you may need during construction;
  • What happens if there are cost overruns;
  • Our inspection / valuation requirements;
  • Our lending criteria; and
  • Applicable fees and charges.

Free Property Research! Better still.

Searching for a home but need a hand? How about FREE property research reports through CoreLogic RP Data, complete with suburb details designed to help you at the negotiating table. The reports cover recent sales details, median house prices as well as a profile of the suburb you’d love to live in. A FREE property research report, just by asking us!


Use our range of calculators to help you assess your borrowing power, repayments, financial situation and more. Click here.

Don’t forget to use our Home Loan Combobulator to see just how much you could save with a Better Home Loan from Police Credit Union!

Interest Rates & Fees

Find out more about interest rates and fees.

Apply Now 

For more information on our Construction Loans speak to our friendly staff:

Call us during business hours on 1300 131 844email us at [email protected] or drop in to your local branch.

We're here to help you buy a house

If you’re looking to buy your first home, refinance the one you’re in, or start your property investment portfolio, we offer home loans and advice that suit your needs, better.

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