Special Offer for Country Universities Centre Far West (CUC FW) Students and Staff!
Through our Community Partnership Program, Broken Hill Bank is supporting eligible students and staff with life of loan discounts for new home purchases or refinances from other financial institutions.*
By banking with Broken Hill Bank you can make a difference.
Broken Hill Bank will donate 0.20% of your home loan value to support your Centre, which can then be used to improve the facilities and services that are provided to all CUC Far West students and staff for years to come. **
Here’s how it works: #
A home loan amount of $350,000 x 0.20% p.a. can result in a $700 donation to the Centre plus we will include a $250 payment upfront.
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Broken Hill Bank / CUC FW Community Partnership Program: FAQ:s
Will CUC FW know which students or staff have taken out loans with Broken Hill Bank?
No. Broken Hill Bank will not provide personal details to CUC FW in relation to the donations made based on individual loans taken out by CUC FW students or staff.
Will the CUC FW staff be providing information or advice to students in regards to the Program?
No. CUC FW staff are required to refer any student enquiring about the Program directly to Broken Hill Bank.
Will CUC FW staff be actively engaged in marketing the Program?
No. Broken Hill Bank will provide CUC FW with posters and advertising material for regular student newsletters. CUC FW is only to display this material.
How will students or staff notify Broken Hill Bank that they want to nominate the CUC FW as a beneficiary as a result of this Program?
Broken Hill Bank will include a QR code or direct link on promotion material which will point the student to a referral form. This will enable Broken Hill Bank staff to directly contact students to initiate applications under the Program, at which point students will need to provide proof of student registration or staff confirmation of employment to be eligible under the Program.
What happens if student or staff pay out their home loan within the donation period?
The home loan donation amount is calculated based on the total outstanding balance of the home loan at the end of the last day of each calendar month for a maximum of 48 months and paid to the CUC FW bi-annually. If the loan is paid in full during the 48 month donation period, the donation will cease at that point.
Does this Program extend to personal loans or car loans?
Broken Hill Bank will make an up-front donation only where students or staff take out a personal loan or car loan. Bi-annual donations are not available for these product types.
Can CUC FW students or staff who already have a home loan, personal loan or car loan with Broken Hill Bank access this Community Partnership Program?
Not for the existing loan, however, should the student or staff take out a new eligible loan then yes, they can access the Community Partnership Program.
Will Broken Hill Bank continue to make donations and provide discounted loan rates if the student completes study and is no longer registered with the CUC FW, or staff ceases employment with CUC FW during the 4 year donation period?
Yes.
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The Broken Hill Community Credit Union Ltd ABN 12 087 650 762 Australian Credit Licence 238020. Credit eligibility criteria, terms and conditions, fees and charges apply.
*This offer is available on new owner occupied and investment home loans, purchase or refinance from another financial institution, with minimum new borrowings of $150,000 where the loan to value ratio is 80% or less and has principal and interest repayments. Interest Rate discount for new owner occupied and investment home loan applications received from existing CUC FW students and staff, providing confirmation of enrolment or employment, as at the date of loan application. The interest rate discount of 0.50% p.a. will be deducted from the standard variable rate applicable to the loan product, for the life of the loan. This offer is not available in conjunction with, or in addition to, any other bonus interest offer, special offer, negotiated rates or discounts.
**Donation amount is calculated based on the total outstanding balance of the home loan at the end of the last day of each calendar month for a maximum period of 48 months and paid to the CUC FW bi-annually commencing on the first six (6) months anniversary after the loan is funded and capped at a maximum of eight (8) payments.
#Example is for illustrative purposes only and based on 0.20% p.a. of the displayed home loan balance for an entire year without any repayments. Actual donation amounts will vary depending on individual loan balances and the terms of agreement between Broken Hill Bank and CUC FW.