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COVID-19 FAQs

We are working through the applications as quickly as possible. We do understand this is a very stressful and uncertain time for everyone, and despite the high demand, we will endeavour to provide a response as soon as we can. To support our members we have additional team members from other areas to help with this process - so rest assured we are here for you.

Some of our stores have temporarily closed so please check the current status of your local store. bcu continues to provide the essential service that our customers need at some of our stores, our Contact Centre on 1300 228 228 and via our digital banking channels. The reason for the temporary closures is because as more and more of our customers are self-isolating, there has been less traffic in our stores. In parallel, demands for phone and online banking assistance have escalated so we need to resource those areas. The staff where our stores have temporarily closed have been deployed to the areas of high demand.

More information and the latest updates on these closures can be found on our store and service updates page.

We encourage members to stay safe and transact via iBank and our mobile app where possible. Find out more about safe ways to bank.

We know many of our members are experiencing financial difficulties because of COVID-19. If you're struggling to make repayments, we may be able to help you. If you're unable to meet your home loan repayments, there are several options available to you. These include:

  • accessing your offset or redraw facility, without incurring any fees;
  • reducing your repayments to the minimum monthly amount if you’re currently paying extra; or
  • applying for our home lending relief package.

Please be patient with us as we are currently experiencing high call volumes in our Call Centre. Our team are working as efficiently as possible to help with your queries. To support increased volumes we have put on staff from some of our stores to help.

Yes. Members can still access service at those stores that remain open and we encourage any customer with queries to contact our Call Centre on 1300 228 228 so that we can assist.

Eligible members affected by the current COVID-19 situation can apply for the relief package to get some breathing space during this difficult time. This means you can apply for a repayment pause on your home loan for up to six months (subject to review at three months).

Please note that interest will be capitalised during the payment pause. What this means is that after the payment pause, scheduled payments will be recalculated so your minimum monthly repayments will need to be increased to repay the loan within the original repayment term. Payments typically increase by $20 - $25 per month.

You can apply online for our home lending relief package or contact us on 1300 228 228 for further information.

Members requiring financial assistance on their home loans can apply for our home lending relief package. Please ensure you provide as much information as possible about your current circumstances so that we can assess your application accurately. If you require further information, please contact us on 1300 228 228.

All our business lending interest rates (including overdrafts) were reduced by 0.25% pa on 1 April 2020. Members requiring financial assistance on their business loan can also apply for our small business relief package. Please be aware that each member’s situation will be treated on a case by case basis and we ask that you contact your relationship manager to understand specific eligibility criteria. Any required legal documentation to vary existing business lending facilities (for e.g., a Letter of Variation), may also need to be signed by all relevant parties to a business loan before being able to be implemented.

Yes. If your circumstances change for the better prior to the end of your relief period and you can recommence making repayments, you can contact us to update as required.

The federal government has announced a number of assistance packages to help individuals and small businesses manage through this difficult time.

The government’s COVID-19 website is the central source for updates, news and information which we recommend as a great resource to find out what assistance you may be eligible for.

We’ve also put together a list of links to Australian government and relevant agency information relating to COVID-19, which we will keep updated on our website.

This is a temporary measure and the stores will reopen once the situation improves.

We have strict limitations on the number of visitors we're allowing in the store at any time and we're adhering to the Federal Government’s social distancing requirements and have markers on the floor for visitors to our store.

All bcu and major banks offer fee-free withdrawals at ATMs Australia wide, or you can still visit other open bcu stores.

Yes, additional payments can be made. Please note this will not impact your payment pause agreement.

If due to COVID-19 you are unable to meet your home loan repayments there are several options available to you.

For eligible customers this includes:

  • accessing your redraw facility;
  • deferring your home loan repayments if you are in advance in your repayments;
  • reducing your repayments to the minimum monthly amount if you’re currently paying extra; or
  • applying for our lending relief package.

Eligible bcu members requiring assistance with home loan repayments will be able to apply for a repayment pause on their home loan for up to six months (subject to review at three months). Over the six months that the repayments are paused interest will be capitalised. After the payment pause, scheduled payments will be recalculated which means minimum monthly repayments will need to be increased to repay the loan within the original repayment term.

You can apply online for our lending relief package or contact us on 1300 228 228 for further information.

The National Debt Helpline has released a free COVID-19 Financial Survival Guide which may provide further assistance.

No, the home lending relief package (payment pause) will not impact your credit rating.