P&N Bank Essential Services Offer

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.

The Banking Package includes:

• $1,500 rebate on eligible home loans
• 100% offset facility (on eligible variable rate home loans).

In order to qualify for the Home Loan Banking Package, members must meet the following criteria and terms and conditions:

• Currently employed within the ‘Essential Services Group for P&N Bank’ within WA. The eligible professions include:
  • State or Federal Police
  • Police staff, including auxiliary officers and any WA Police employee
  • Nurses (clinical, registered, and travel)
  • Doctors
  • Firefighters (salaried non volunteer)
  • Paramedics
  • Ambulance Emergency Medical Dispatchers
  • Prison Officers only
  • Teachers (primary, secondary, & specialist e.g., language) and University lecturers.
• Borrower(s) must be 18 years and over.
• Home loan applications must not be for refinances of existing P&N Bank and BCU Bank loans.
• 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.
• The Loan to Valuation Ratio (LVR) of the home loan must be 80% or less.
• Home loans can be originated from either proprietary or broker channels.
• For joint applicants, only one Rebate Payment will be paid.
• The Rebate Payment cannot be used in conjunction with any other home loan rebate offer currently being made by P&N Bank.
• The Rebate Payment will not be considered in assessing home loan serviceability.
• The Rebate Payment of the Home Loan and 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 Rebate 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 Rebate Payment. 
• Tax consequences may arise from the Rebate Payment, and Members may need to seek independent advice on any taxation matters.
• The terms of the Rebate Payment can be amended and/or withdrawn by P&N Bank without notice.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:
  • comply with any change or anticipated change to any relevant law, code of practice, regulatory guidance or general banking practice;
  • reflect a decision of a court, ombudsman or regulator;
  • reflect a change in our systems or procedures, including for security reasons; or
  • respond to changes in the cost of providing home loans.

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 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