For over 45 years, The Mac, also known as Macarthur Credit Union, has been providing financial services to Australians.
Since starting in 1971 as a credit union for miners and truckers, The Mac has expanded its services and customer base. However, it remains a small financial institution, with only four branches that are all located in Western Sydney, NSW.
Over 13,000 members have financial products such as personal loans, home loans, banks accounts and savings accounts from The Mac.
Benefits
Drawbacks
Australian Credit Licence 239933Fees & charges apply
12.99%
13.33%
$682
$40,946
Australian Credit Licence 239933Fees & charges apply
15.55%
15.93%
$722
$43,343
Australian Credit Licence 239933Fees & charges apply
15.99%
16.29%
$729
$43,763
Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios.
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The Mac personal loans come with variable interest rates in the form of secured and unsecured loans.
Personal loan interest rates from The Mac are high no matter which lending option its members choose. Borrowers can use RateCity’s personal loan comparison tool to find the most competitive personal loan interest rates.
Members of The Mac can expect to pay an upfront fee when starting their loan. The fee amount is less than what customers are likely to pay at a major bank.
There is no early exit penalty fee from The Mac, nor are there any ongoing fees associated with its personal loans.
Redraw facilities are available with no additional fees for The Mac members.
Customers living in or near Western Sydney can visit one of The Mac’s four local branches.
All members also have access to customer support and banking services via The Mac’s online banking portal and phone line.
To be eligible for a The Mac personal loan, borrowers must meet the following criteria:
The Mac members can apply for personal loans through the following avenues:
Members who choose to obtain a personal loan from The Mac will find a limited range of options. These loans are available in secured and unsecured forms and come with variable personal loan interest rates.
The Mac personal loan interest rates are high when compared to other lenders in Australia. This could deter borrowers who are looking to save money over the life of their loan. Use RateCity to compare personal loan rates and find the best available for your circumstances.
There is an upfront fee when starting a loan with The Mac, but it is lower than what the major banks charge.
Personal loans from The Mac do not come with ongoing monthly fees nor fees for early payments. This could offer some savings to borrowers, and encourage them to pay off their debt ahead of schedule.
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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.
