Exclusive for Police and their whānau
First Home Together is our shared ownership home loan package that can boost your deposit by up to 10% interest-free and increase your buying power.
At the Police Credit Union we work harder to help members and their wider family to get into their first home.
How it works
1. Your deposit
At least 10% of the house purchase price. Your deposit can be made up of one or more of your KiwiSaver, Police Super Scheme, savings, or gifts from whānau.
2. Our 'Deposit Help'
Up to 10% of the house purchase price provided by PCU. Deposit Help is interest-free for up to 10 years. Your deposit plus our Deposit Help will total 20% of the house purchase price.
3. Main home loan
The Police Credit Union also provides a regular home loan to pay for the balance of your home. The home loan must be with the Police Credit Union - it can't be with another bank.
Why choose us?
We're here to make a real difference to the financial wellbeing of Police and their families.
By choosing PCU for your home loan, you also give back to your Police family.
We provide you with competitive home loan rates and unique products, and your loan allows us to pay competitive rates to members who save and invest with us.
First Home Support
"My son was struggling trying to get a mortgage from the banks. I'd just read something online about First Home Together and suggested it as an option.
Because of the Police Credit Union, he now lives in a nice new home, and it's made a massive difference to himself, his wife and his children."
FAQs
Q: Who can apply for First Home Together (FHT)?
A: Anyone eligible to join the Police Credit Union!
This includes current, former and retired police employees and their extended family, including parents, siblings, children, nieces and nephews, and more.
Read our eligibility criteria here.
Q: Can I use FHT if I've owned a house before, or own one at the moment?
A: You may still be eligible for FHT if you've previously owned a house, depending on the situation.
If you already own a home and want to upgrade or buy an investment property, you'll need to apply for a standard home loan.
Learn more about our competitive home loans here.
Q: How much can I borrow?
A: The amount you can borrow will depend on a few things, including:
- The deposit amount you have available
- Your household income and ability to afford a home loan
- The price of the property you want to buy
Your next move starts here
Join us
Even if you're not ready for a home loan, opening an account now will make it easier when the time is right. Joining now opens up the rest of your family to become members too!
Find out more
Get more info about how Deposit Help works through our online resources, including a brochure, calculator, and other helpful tools.
Apply for a home loan
If you're ready to buy, then it's time to apply! You'll need 3 months of bank statements and a copy of your payslip. A lender will be in touch once we receive your application.
Learn more about PCU
Outside of home loans, we offer fee-free accounts, term deposits from only $500, and personal loans for life milestones or to get debt sorted.
The fine print
Normal lending criteria and a $100 establishment fee apply to all new loans.
Why PCU is different
We're owned by our members
We do what's in their best interest, not what will make us the most money.
Not-for-profit
100% of our profits are invested back into the benefits we offer our members.
We go out of our way
We work hard to help make members better off, especially when banks say no.