P&N Bank is proud to share history with the WA Police Force for more than 50 years. In 1969, the Western Australian Police Union Cooperative Credit Society was established. Over the years, we've become stronger through several mergers, including in 1990 when we became Police & Nurses Credit Society, which then evolved into the P&N Bank we know today.
Through the continued partnership between P&N Bank and Western Australian Police Union (WAPU), WAPU Members will enjoy benefits, including:
- $3,000 cashback on eligible home loans.
- An additional 10 basis points (0.10% p.a.) on all Term Deposits.
- A 10% discount on general insurance premiums (excluding Travel insurance).
- Easy connection to a financial planner
To qualify for any of the WAPU Member Offers, you must meet the following criteria and terms and conditions:
- Be a current member of Western Australian Police Union.
The following conditions apply for each of the offers available to WAPU Members.
1. $3,000 cashback on eligible home loans (Home Loan Cashback).
1.1. Home loans must originate from proprietary channels only, this is through the P&N Bank website, contact centre, webchat, a home lender, or in branch. Broker referred loans will not qualify.
1.2. Home loan applications must not be for refinances of existing P&N Bank loans (including BCU Bank loans).
1.3. The amount of the home loan must be at least $250,000 and can include a combination of variable and fixed rate home loans where the combined balance is at least $250,000.
1.4. The Loan to Valuation Ratio (LVR) of the home loan must be 80% or less.
1.5. Equity Line of Credit products are excluded from this Cashback offer.
1.6. For joint applicants, only one Home Loan Cashback payment will be paid.
1.7. Application can be for owner occupied or investor purposes.
1.8. There is a maximum of one cashback payment per application regardless of the number of loans on the same application, customers or properties involved.
1.9. Applications for Equity Line of Credit products alone do not qualify for the cashback offer. The cashback offer is applicable to applications that include a combined request for a Line of Credit and a Term Loan, with the Term Loan amounting to at least $250,000.
1.10. Bridging loans must have a residual debt of at least $250,000 to qualify for cashback offer.
1.11. The Home Loan Cashback payment cannot be used in conjunction with any other home loan rebate offer currently being made by P&N Bank.
1.12. The Home Loan Cashback payment will not be considered in assessing home loan serviceability.
1.13. The Home Loan Cashback payment will be paid into your P&N Bank transaction account (held either solely or jointly with a co-borrower) by the end of the following month post the drawdown of the loan(s). For example, if the loan is drawn down in February, the Cashback payment will be credited to your account by 31 March. If you do not have a P&N Bank transaction account, you will be required to open one to receive the Cashback payment.
1.14. For loans in joint names, the transaction account needs to be in the name of at least one of the customers and the Cashback payment will be paid only once for each home loan. Where a home loan has more than one borrower and one member receives the Cashback, all members are deemed to have received the Cashback.
1.15. Tax consequences may arise from the Cashback payment, and customers may need to seek advice from the Australian Tax Office or their own taxation adviser.
1.16. The terms of the Home Loan Cashback can be amended and/or withdrawn by P&N Bank without notice. However, we will only do so where reasonably necessary to protect our legitimate business interests. Any amendment or withdrawal will not affect prior received loan applications, unless necessary to:
a) comply with any change or anticipated change to any relevant law, code of practice, regulatory guidance or general banking practice;
b) reflect a decision of a court, ombudsman or regulator;
c) reflect a change in our systems or procedures, including for security reasons; or
d) respond to changes in the cost of providing home loans.
1.17. Full home loan terms and conditions are available here or at any P&N Bank branch or can be requested by calling 13 25 77. Credit Products are issued by Police & Nurses Limited ABN 69 087 651 876 AFSL/Australian Credit Licence 240701. Lending criteria, home loan terms and conditions, as well as fees and charges apply. These terms and conditions do not form part of any home loan agreement.
2. An additional 10 basis points (0.10% p.a.) on all Term Deposits.
2.1. The additional 10 basis points can be applied to multiple term deposits and is not limited to one term deposit.
2.2 The additional 10 basis points applies to both the original term deposits and to subsequent rollovers.
2.3. The 10 basis points can only be applied to the standard published rate and cannot be applied to a higher rate that may have already been negotiated. Current rates can be viewed at pnbank.com.au/term-deposits.
2.4. You are required to confirm that you are still a WAPU member at the rollover of your term deposit to continue receiving the 10 basis points.
2.5. All P&N Bank Term Deposit Account Terms and Conditions apply.
3. 10% discount on general insurance premiums (excluding Travel insurance).
3.1. Discount is available on all general insurance products excluding Travel insurance.
3.2. Discount will only apply to the initial policy and will not be applied to policy renewals.
3.3. Discount is applicable for any new insurance policies purchased, including joint policies.
3.4. The discount cannot be used in conjunction with any other insurance offer.
3.5. Police & Nurses Limited (P&N Bank) ABN 69 087 651 876 AFSL 240701 acts under its own AFSL and under an agreement with the issuer Insurance Australia Limited trading as CGU Insurance ABN 11000 016 722, AFSL 227681.
3.6. Disclosure Statement and Target Market Determinations available from pnbank.com.au/insurance.
4. Easy connection to a financial planner.
4.1. P&N Bank will facilitate if requested, connection to a financial planner at Wealth Management Partners (WMP).
4.2. In referring customers to WMP, Police & Nurses Limited does not accept responsibility for any act, omissions or advice of WMP and its authorised representatives.
4.3. Wealth Management Partners Pty Ltd ABN 74 103 533 455 and WMP WA Pty Ltd ABN 63 649 011 307 are corporate authorised representatives of Mont Partners Pty Ltd ABN 33 627 827 776, Australian Financial Services Licensee number 511061. Registered office 106 Burswood Road, Burswood WA 6100.
4.4. Wealth Management Partners Pty Ltd and WMPWA Pty Ltd operate under the Wealth Management Partners business name. Registered office at 106 Burswood Road, Burswood WA 6100.
Should we become aware that you are no longer a member of the WAPU, any benefits applying will cease at the next Term Deposit and/or Insurance policy rollover or renewal.
Banking and Credit Products issued by Police & Nurses Limited (P&N Bank) ABN 69 087 651 876 AFSL/Australian Credit Licence 240701. All information is general in nature and does not consider your personal needs, objectives, or financial situation. Lending criteria, home loan terms and conditions, as well as fees and charges apply.