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BCU Bank exits Home Guarantee Scheme

BCU Bank has been participating in the Australian Government’s Home Guarantee Scheme (HGS) via Housing Australia since July 2021 (formerly called the First Home Loan Deposit Scheme). In this time, we’ve enabled hundreds of customers to buy their home.

After careful deliberation, the decision has been made to exit the HGS at the end of May 2024.

What does this mean?

  • From 31 May 2024, we will no longer be accepting new loans as part of the Australian Government’s Home Guarantee Scheme (First Home Guarantee, Regional First Home Buyer Guarantee, and Family Home Guarantee).
  • Current loans within the Scheme will continue and there will be no impact to our existing customers.

BCU Bank remains committed to helping get first home buyers into homes of their own and we will continue to evolve our first home buyer proposition.