Introducing our new green car loan

We've electrified the green vehicle market with a new low-cost car loan.


  • Community First has launched a new low rate Green Car Loan.
  • The Green Car Loan features include a 3.99%p.a.* interest rate (comparison rate 4.76%p.a.**), a low $5 monthly fee, and the option of fixed or variable rates on terms of up to 7 years. 
  • The Green Car Loan launches at a time when governments and manufacturers are increasingly focusing on electric vehicle sales.

Sydney, April 2022: Community First Credit Union has launched its innovative Green Car Loan for brand new electric and hybrid vehicles in another credit union-first.

The Community First Green Car loan offers a competitive 3.99%p.a.* interest rate (comparison rate 4.76%p.a.**), a low $5 monthly fee and a modest $295 application fee. The loan also offers terms of up to seven years with the option of fixed or variable rate loans offering consumers ultimate flexibility.

John Tancevski, CEO of Community First Credit Union, says, “Research indicates that global warming is the leading social or environmental concern for Australians, 1 and we have introduced our Green Car Loans when governments in Australia have started recognising the value of electric and hybrid vehicles.

NSW leading the charge with electric car revolution

In July, the New South Wales Government passed the Electric Vehicles Bill that provides almost a half a billion-dollar investment in tax cuts and incentives to NSW motorists to drive an electric revolution. 2 As part of its Electric Vehicles Strategy, the NSW Government aims to have electric vehicles making up more than 50% of the new car market by 2030, a significant increase on the current 0.43% share so far in 2021.

In September, the NSW Government launched the strategy by waiving stamp duty for eligible EVs under $78,000, while $3,000 rebates will be up for grabs for the first 25,000 purchasers of battery and hydrogen fuel cell electric vehicles under $68,750.
“For families looking to upgrade their car to retirees planning a road trip around Australia, these government incentives will make electric vehicles accessible and more affordable for all NSW residents,” said Mr Tancevski.

“By introducing our Green Car Loans with a competitive rate of 3.99%p.a.*, we are providing affordable funding for motorists to take advantage of electric and hybrid vehicles.”

Driving savings and lower emissions

Mr Tancevski continued, “EVs are not only cheaper to run and quieter on our roads but will reduce carbon emissions and air pollution that will provide better health outcomes for the community.”

According to the NSW Government, the average driver will save around $1,000 a year in running costs by switching to an electric vehicle. 3

“Many motorists need to know that more car manufacturers are also taking the electric vehicle sector seriously. For example, Volvo plans to go fully electric by 2030,” said Mr Tancevski.
“We are supporting the shift to electric cars with the launch of the Community First Green Car Loan for brand new cars only as the electricity and hybrid technology is changing so quickly.
“Better still unlike other car loans there is no risk-based pricing with our Green Car Loan. Every eligible motorist will pay our competitive 3.99%p.a.* interest rate.”

Community First Credit Union’s Green Car Loans are secured personal loans available for sums from $10,000, with terms of up to 7 years. Green Car variable loans offer the flexibility of no early repayment penalty. Both fixed and variable loan options also provide the borrower access to redraw funds in advance (fees apply).

Community First Credit Union offers an extensive range of lending and banking products anywhere in Australia by visiting www.communityfirst.com.au or calling 1300 13 22 77.

View the Green Car Loan

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For further information or to coordinate an interview, please contact:
Aletia Fysh, Head of Marketing, Community First Credit Union on 0424 184 334.

Credit eligibility criteria, terms & conditions, fees & charges apply.
*Rate is current as at 13/04/22 and subject to change without notice.

**The comparison rate is based on a secured loan amount of $30,000 over a loan term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

The information contained in this article is only correct at the point of time of publication. It is general information and has been prepared without taking into account your personal circumstances, objectives or needs. Please consider if this information is right for you before making a decision to acquire any product.

1   https://republicofeveryone.com/wp-content/uploads/2021/02/The-Power-and-the-Passion_Brand-and-Marketing-edition.pdf


Community First Credit Union LimitedABN 80 087 649 938 | AFSL and Australian credit licence 231204 | BSB 512-170