Redraw from your loan

SWSCU Redraw can let you access extra payments you have made on your loan via internet banking, Phone app or at your local branch.

Does my loan have redraw?

• Yes, all our loans have a redraw facility.
• If you are at least one month in advance of loan repayments any excess can be redrawn.

E.g. in advance $2000 & minimum monthly payment of $500, available funds to redraw is $1500.

How do I access my redraw?

• By calling into your local branch & requesting a redraw.
• Via SWSCU App or internet banking.

Why can’t I redraw on my Loan?

• You are not making any extra or higher loan payments.
• You are not more than 1 month in advance.
• Your loan is paid out.
• Your loan has not been fully funded e.g. construction loan.