Rating based on 25 reviews

First Credit Union


  • Low-interest starting from 9.95%
  • Credit union loans up to $50,000
  • Repayment up to 48 months

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First Credit Union homepage

Author First Credit Union. Screenshot of First Credit Union website. [Accessed May 23, 2018]

About First Credit Union

Make your financial life simple, and let First Credit Union assist you with one of their wonderful services.

First Credit Union is a proudly Kiwi-owned company and has been helping people achieve their financial goals for over 65 years!

Being a cooperative makes them different from other financial services. It means all profits they make goes back to their members to benefit them by paying no to low fees and offering better interest rates on loans and savings accounts.

Their history

In July 1955 they began their journey as St Mary's Credit Union and became New Zealand’s first credit union. Their board comprises seven directors with a diverse range of backgrounds and skills to give members the experience they deserve.

Over the years they had a few name changes but still remained committed to providing their members' low fee accounts, great rates, and personal loans.

A Credit union you can count on

First Credit Union has a rich history and a strong culture. Supporting their communities and giving back is not something new to them.

It was the very principle of 'people helping people' since they were founded.

What First Credit Union can offer you

When you become a member of this credit union, you will have access to simple and flexible loans with low rates. 

You can be assured of reaching your goals and making your dreams come true. Credit unions are essentially financial and insurance providers that operate solely for the benefit of their members and at First Credit Union this is exactly what they do.

Rates and services

On their personal loan, the rates range from 9.95% variable to a maximum of 18.00% per year. The floating rate of home loans at just 3.95%. Loans will be offered to you for up to $50,000 with repayment terms that range from 3 months to 4 years. You can comfortably make repayments within a reasonable time period.

Loan calculator

Work out what your repayments might be before you apply. All you have to do is adjust the sliders and select the amount you want to apply for.  

It is simple to use the tool and it will help you to budget and know exactly what is going on with your credit union loan, so go ahead and try it out! The best part is you don't need to worry about application fees, as they don’t charge any!

First Credit Union Product Details

  • Loan Type Credit union loans
  • Interest Rate 9.95 – 18% p/a
  • Loan Amount up to $50,000
  • Repayment 3 months to 48 months

At First Credit Union we offer a full scope of financial services

You can apply online or go visit their offices during business hours to become a member.

Unlike large banks and other lenders, they don’t place limits on what you can and cannot do as long as you can afford what you apply for. In addition, they will look at things like your debt and credit history.

They will always do their best to accommodate you based on affordability rather than the past.

Criteria for membership

  • A completed Home Loan Application form.
  • Proof of Income. If you’re self-employed they will need to see signed final financial accounts for the last two years of self-employment.
  • Your last three months' bank statements.
  • Proof of outstanding balances on any personal loans, hire purchases, and credit cards if applicable.

Paying my Credit union loan

The most convenient way of ensuring payment is by making a debit order system that automatically debits on the agreed date. All you have to do is to ensure that there are sufficient funds in your bank account on that day.

What makes it amazing is there will be extra charges if money couldn’t be deducted on your debit order date.

Become a member of First credit union

Being assured that you are being supported financially makes the process of becoming a member stress-free. If your application fits their credit union NZ criteria, you're good to go. Switch today and see why so many Kiwis trust them.

Asset Finance business loan benefits 

  • A company that strives to give its members excellent service.
  • Flexibility and transparency.
  • Safe application.
  • Great service.
  • Low rates
  • Passionate staff.
  • Less paperwork with the online application.
  • Loan options of up to $50,000

Customer Reviews & Testimonials

December 2020

All it took was a credit union loan application from First Credit Union and I was good to go.

Jessica R
— Inangahua —

March 2020

The interest rate charges at First Credit Union are quite affordable on credit union loans.

Emily P
— Inglewood —

April 2020

The credit union loan application was fast and easy to complete. Within minutes, I was done and had already submitted my loan application.

Derick F
— Invercargill —

October 2021

The interest rate and charges at First Credit Union were affordable on credit union loans. I also received outstanding customer service.

Moore K
— Gisborne —

September 2021

All it took was a credit union loan application from First Credit Union and I was good to go. They were so fast and efficient.

Woods E
— Bay of Islands —

First Credit Union Contact Details

Physical Address

Opening Hours

  • Monday 09:00 – 16:30
  • Tuesday 09:00 – 16:30
  • Wednesday 09:00 – 16:30
  • Thursday 09:00 – 16:30
  • Friday 09:00 – 16:30
  • Saturday – Closed
  • Sunday – Closed