These people are next level dodgy. I applied for a personal loan and they told me I’m accepted, then they told me I’m not and that they couldn’t ‘tell me why’. I’m sorry but that’s insane. What kind of a company cannot provide an explanation, let alone explain their policy? Avoid at all costs.
Great car loan experience (twice)
I've had two car loans with PCCU. There loan application processes is very strict but that is for good reason. We paid both loans off 3 years early with no balloon payments or any other 'gotchya' fees. The staff are always friendly and I like that they have their call center in a regional city instead of Melbourne or Sydney.
I'm a finance broker and my experience using People's Choice was extremely painful. They asked for a lot more documents they other personal loan companies and undertook a credit search on me prior to me giving them permission. To top matters off they could give clear answers to direct questions asked. I would avoid at all costs.
Useless for land and home loans
Been with them for 3 or so years. Wanting a land loan and they said we can't because apparently they can't guarantee we are going to build a house on our land even though we have signed a building contract and paid the deposit!! Ridiculous.
They approve the car loan through phone, had reserve the car. after sending the documents and Assess, the loan was declined. Keep away from here! Very heart breaking. Dont trust it.
Smooth, simple, stress free. excellent customer service
compared to other financial firms it is refreshing to be treated normally. taken through the process step by step. No problems, confusion, obstacles, red tape other than obvious necessary procedure.
So pleasing. Yes we complain about bad service, but here they deserve a good word as they do what one would call COMMON SENSE. So lacking in many dumb organisations, I have seen more sens in a bunch of grapes. No names of course as you do that in their reviews. So please buyer beware, I am so careful these days with the clowns at the Cirque. So yes a BIG thank you for doing your job well young lady and the training from management they had as it is always down to them to get it right.
Amazing service from Loan Delivery Officer
A very new customer with People’s choice and will highly recommend for anyone wanting a car loan!!
Straight away I was given great feedback, communication everyday and a massive Thankyou to Hina who I dealt with through the whole process. She was very understanding and helped me through everything even emails!!!
I couldn’t say Thankyou enough and very happy with this bank!
A Very Very Very Bad Experience And A Waste Of Time
I made a person loan application at their Christie's beach branch, I was told the processing timeframe is 24-48 hours, shockingly it took one week, no communication nor any update. I had to take it upon myself calling everytime and sending emails to be told my application was not approved.
They offer a very enticing carrot (rates) and hit you with an even bigger stick.
I have found the services of People's Choice Credit Union (PCCU) very disappointing as a customer of ~10 years. when I began they were called Australian Central saving and Loans.
I joined as a young adult fresh into the workforce and after better customer care, rates and service than the Big 4 would offer. I have found that the branch staff struggle with anything other than cash in/ out transactions. Loan, credit and mortgage applications are unexpectedly tedious and prone to 'mistakes' or incorrect information. The phone support is better tha...n the branch in knowledge and ability to resolve problems. This combination of disadvantages leads to heavy handed use of the carrot and stick in branch. My experience has led me to hold accounts in name only with a nominal cash deposit for the last 18-24 months. I preferred to move everything to an orange coloured service without physical branches, better rates and customer services (who knew a call centre could be better than in person). This is because PCCU offers rates marginally better than the Big 4, the customer service is on par but with far less accountability and the transparency is non-existent. To give an example. I was travelling overseas several years ago. I did not want to setup a short term credit or travel card (too expensive/ difficult/ contract too long for my needs) for a single trip and so confirmed in branch that I could take my regular visa debit card. This was confirmed as an acceptable practice but I would pay higher transaction fees. About 2 weeks into the trip I found that it had been disabled. After calling the international number I was tersely told that I should not have taken the card overseas. I explained why I did so and was told that it was not correct and I should have had a travel card issued. After some argument the card was re-enabled and I could complete my 4 week holiday. This adds to my other experiences at PCCU. I have found that they will offer or promise very good rates initially. These will be either be changed in branch or end much sooner than it should. This has been true of both beneficial online saver rates and negative effect loan rates. As an example I was enticed by a roughly 3% online saver rate that was so poorly explained that I only found out I would not get it after several months of confused phone calls and branch visits. This is how the carrot and stick works as they offer great rates and than try to pull the benefits out from you with arguments of taking or leaving the offer.
- Verified customer
Avoid at all cost!! They don't care about their customers!!!
I applied for a home loan around Feb with [name removed], got assessed and was assured I will get the loan amount for the cost of the land and building. Submitted all requirements no issues whatsoever. Land title will be around middle of July. I contacted her again around May and she was not replying anymore. Called their office and she cannot be contacted. It took me 3 consecutive follow ups for them to transfer my application to another banker. [name removed] was the banker who took over. Submitted all requirements again end of May no issues....[name removed] was telling me it will get approved after valuation. Valuation came and still no approval. I keep following up because it was June already and title will be in a few weeks. I was told valuation have changed and now waiting for that to come back before getting approved. Land is now titled and when I followed up, then he revealed they found a clause in the land contract which they don't like! The contract was submitted a few months ago! They told me they have an issue 2 weeks before settlement! This guy didn't even care at all! Never did he told me I should be looking for another bank because it might not get approved! Nothing! Good thing I applied with a major bank where my savings are and got approved in a week! [name removed] was happily in his vacation while I was out of my mind that I might not get settled and worst case is get a penalty and recission notice from the land vendor! They don't care at all!!!
UNBELIEVABLE SERVICE. DO NOT GO WITH THEM
Offering a personal loan with no monthly fees and variable with a secured loan. Got pre-approved and later on got declined saying i was outside of their lending criteria. I have no car loan, no personal loan, great credit rating. I have not had an enquiry in 2 years until now. They couldn't tell me why.. poor service.
Bad customer service
I saw Irene from the Caroline Springs branch. She said I got approved but then came back and denied my personal loan. Very unhelpful. Definitely won’t recommend Peoples Choice to anyone
Never felt so scrutinised :(
I first came about PCCU 3-4yrs ago, their rates looked great so I applied for a car loan and the service received was fantastic. Now..... I've never felt so scrutinised in all my life when applying for a loan, despite it still pending I'm inclined to cancel the application and look else where, due to the fact I've separated from a toxic relationship and am now single they called to question my relationship status and living arrangements, I've been asked to provide a stat dec from a family member to support the purpose of the loan, they obviousl...y took my relationship and ex's assets into account with my previous loan which was not to be done as they were comparing the details.... otherwise why the big issue with this loan? are declarations now a thing? say someone wants a loan for refurbishing a home.... do they require statements from retail stores to confirm purchase? I would understand if I've had trouble with my existing loan but I've maintained payments, even paid a little more each time and only have over 1yr left, am in constant employment and don't believe my credit history to be bad so this experience has left me confused and frustrated.
Recently applied for a secured car loan through people's choice. Fantastic interest rates and good loan conditions caught my eye and the initial stages of the application were very easy and straightforward. After submitting the initial required paperwork we were told we needed to submit more paperwork, ok seems a bit extreme. After verifying the exact information we provided, we were rejected!!!! My partner works full time with good income, myself casually (which falls out of the their guidelines for income apparently) so why not say that at th...e beginning? we also have an investment mortgage, savings, and dual income with good credit scores. No further explanation as to why. The lady on the phone acted like we wished to borrow a million dollars. Seriously, read all the one star reviews in regards their car loans and stay away!!! so many other options not worth the stress from these incompetent and rude staff.
I have been with the credit union since 1980s when it was Australian Central Credit Union. Always found it a great institution. We have even moved interstate and would not even consider going elsewhere. The call staff are always amazing.
Insist that PCCU show you the loan application they do for you & the loan assessment
UPDATE 27 June 2019
People’s Choice create home loan applications for you, write in the application what they want not what you tell them, then don't let you see the form
we wrote the following to PCCU ' You state at various places in the 23 April 2019 letter, that
a written loan application is not required by law
the Loan / Overdraft Application form is an internal document
the Loan / Overdraft Application form is updated by PCCU from time 2 time as an application progresses
a copy of the Loan / Overdraft Application form does not have to be provided to a borrower
Please advise if the above is not true
- Verified customer
Declined a $10k refinance on a Personal Loan. Shameful Union.
I have been with People's Choice two times, both for Vehicle Loans. One loan was honorably settled after continuous and timely repayments. The other loan now 2 years is currently being paid right on time every fortnight. I wanted to change the current vehicle to a newer version by borrowing $10k, repaying the outstanding $7k to PCCU on existing loan, and settling the balance $3k as part of purchase of new vehicle.
Having a good credit repayment history on two loans I was declined the credit for $10k loan. They claimed I did not meet their cred...it guidelines. Probably some guidelines peculiar to PCCU. When assessing the loan they did not understand the logic that when two family members earn, they share the household expenses. What they did was they considered my part of the income (after salary sacrifice to super) against the total household expenses with out removing a portion for the partner. The partner herself earns 4 times myself. I would think their assessing logic itself is flawed. I would not advise anybody to even consider PCCU if you have any finance requirements. Poor quality organization, poor quality people.
Concierge Practices Deplorable
I’ve been with Savings & Loans since the mid 90’s when I was a teen. Now have two properties and business banking with Peoples Choice. I visit the Salisbury Downs branch at least twice weekly. Each time the same staff approach me to encourage me to use the ATM. EVERY time I have to explain why the ATM is not appropriate for my business’ specific needs. Today I actually lost it at the lady, she tells me they have to ask. So when did it become more about pushing people out of branches and into self serve? That does not sound ‘People’ orientated t...o me. Nor does it demonstrate good customer service when one person is serving and there are a significant amount of people lining up. The demographic that visit the branch are largely the older generation. They do not feel supported. A better option would be to offer concierge during off peak periods and actually have that second person serve at the counter during peak periods. Please DO NOT ask me why I’m lined up. Recognize my face for once as I am there a lot and recognize that your interrogation is neither helpful nor appreciated. And also recognize that your strike rate of take up of the ATM ‘assistance’ offer is so very low that the members money to pay their wages is a complete insult to your chartered values.
Shame on closing Port Adelaide branch.
2 buses with a walker is too hard for me. Then was told "Take a seat, you will be seen shortly" 1 hr 10 mins later I was still sitting & waiting. Queues were to the door, 1 teller working, many people walked out. Others were told, come back in 1/2 hour, the line shrank to aroynd 10 people lined up. Lunchtime ystrdy. Been with Savings & Loans since 70s.
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Questions & Answers
when dose People's Choice Credit Union Banks.
Do your maintenance in the middle of the night like everyone else!
We have queried People’s Choice about home loans established in 2012. Their practices then were questionable, and documentation slipshod or non-existant
We have asked then to give us blank copies of the loan application form and the home loan contract form they use today, so we can see if processes have changed / improved.
They refuse to give them to us.
I am hoping someone who got a loan within the last 12 months or so will read this and be willing to share forms with us.
We are interested only in the text and layout of the forms, so ask that all applicant / property / financial detail etc be redacted.
Can anyone help with this ??
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