Save on electricity costs sooner with a


SunPower Solar Loan.


SunPower Solar Loan FAQs


Click on a question below to view the answer.

About the SunPower Solar Loan


Applying for a SunPower Loan


Managing my loan



Can the SunPower Solar loan be used for the purchase of non SunPower products?
No, the SunPower Solar loan is exclusively available for the purchase of SunPower products only.



How much can I borrow?
You can borrow anywhere from $1,000 to $35,000.



Do I need to provide security for my loan?
No. The SunPower Solar Loan is an unsecured loan.



Is a variable or fixed rate best for me?
One of the benefits of the SunPower Solar Loan is that you can choose either a fixed or variable rate for up to 10 years. You should discuss your individual needs with a Community First Sales Consultant to determine which rate will suit your needs best. Factors to consider include whether you need the security of knowing your repayments won’t change, current specials, the long term market outlook, and how your repayments will affect your expected energy savings.



Are there any establishment or ongoing fees?
There is a loan application fee of $150. This is added to your loan and is not payable should your loan be declined. There is also a $5 monthly loan account keeping fee however if you apply by 31 December 2013, we will waive this for the life of the loan.



What is loan protection?
When we phone you to discuss your application, you will be given the option of taking out loan protection insurance. This type of insurance ensures that if you get sick, have an accident or lose your job, your loan repayments will for the period.^^



What will my loan repayments be?
You can estimate your SunPower Solar Loan repayments by utilising our loan repayment calculator here. You should enter the loan amount, interest rate and term. You should note that interest rates are subject to change without notice and variable rates will move in line with the market. The results should be used as an indication only. The monthly loan account keeping fee of $5 is not currently included in the calculator as we will waive this for the life of the loan when you apply by 31 December 2013.



Who should I contact to discuss the SunPower Solar Loan before I apply?
You should contact Community First Direct by calling 1300 13 22 77. We’re open 8am – 8pm weekdays and 8am – 3pm Saturdays.



Can I request my local SunPower Partner to advise Community First to contact me regarding a SunPower Solar Loan?
Yes. As long as you have provided your authorization for this to occur, your details will be passed on within 5 business days.



Will I need to update my home insurance policy after the panels have been installed?
You should contact your home insurer to enquire as to whether solar panels are included in your cover. You should notify your insurer before and after installation and if you are covered, you should obtain an endorsement to record that the system is part of the cover and structure.



Can I apply for part of the cost of the Solar System?
Yes. You do not need to borrow the full amount of the system if you would like to use some of your own funds to make up the difference. Please note however that if your loan is more than the amount on the invoice, we will contact you prior to settlement to discuss a variation.



How do I apply for a SunPower Solar Loan?
You can apply online by clicking here or apply over the phone by calling Community First Direct on 1300 13 22 77.



Who can apply for a SunPower Solar Loan?
Only customers purchasing a SunPower Solar product from a SunPower Authorised Partner are eligible for a SunPower Solar Loan. To enquire about a SunPower Solar System, click here. You can apply if you are aged 18 or over, are an Australian resident and you are purchasing solar panels for a home that you are the owner of. (This can be mortgaged)



Do I need to be a member of Community First to apply?
No. When you sign your loan contracts, we will obtain your consent to become a member of Community First Credit Union.



How long will it take to apply?
It will take you approximately 10 minutes to complete an online application provided you have the details of your assets, liabilities and income handy.



What happens after I submit an online application?
You will be notified immediately whether your application has passed our initial checks. If your application does not pass our initial checks, your application will be declined and you’ll be notified on screen. If it passes, a Community First Sales Consultant will contact you within one business day to discuss your loan application. As soon as we have received your supporting documentation, we will submit your loan for assessment which will take 48 business hours for a response. You will receive a phone call regarding the outcome of your application and if approved, we will email you your contracts to sign and return.



What documentation do I need to provide?
You’ll need to provide your 2 most recent pay-slips (or last 2 years financials if you are self employed) and latest energy bill. We will attempt to verify your identity via internal checks. In some instances, we may need to request additional documentation from you such as a copy of your drivers license however a Community First staff member will advise you if this is needed.



Where do I send my loan documentation to?
You should only send any information regarding your loan direct to Community First Credit Union. You can:

Fax to: 02 9735 1661
Scan to: askus@communityfirst.com.au
Post to: PO Box 98, Lidcombe NSW 1825




What arrangements need to be made for my SunPower Solar Loan to be funded?
Community First will require a copy of a compliant SunPower invoice from your local SunPower Partner. This can be forwarded to Community First by your local SunPower Partner or you at any point, as long as we receive it prior to the loan funding. You will also be asked by your local SunPower Partner to provide your authority to fund the loan directly to them via electronic funds transfer (EFT).



What should I do if I need assistance completing my online loan application or am experiencing technical difficulties?
You should contact Community First Direct by calling 1300 13 22 77.



Can I access redraw on my loan?
Yes. There is no minimum amount required to complete a redraw however fees apply. Visit the ‘fees’ tab of the SunPower Solar Loan home page for more information.



How do I pay off my loan faster?
You can make additional repayments to your loan at any time without penalty. You can do this by contacting us to increase your regular repayments, or make one off loan repayments by logging in to Internet Banking and making a transfer. Community First Credit Union’s BSB is 512 170. You can either check your loan statement or contact Community First Credit Union on 1300 13 22 77 to confirm your loan account number.



How often can I make loan repayments?
You can choose to make loan repayments weekly, fortnightly or monthly. You can provide us with these instructions via a form we will provide you with your loan contract or by contacting Community First on 1300 13 22 77.



If I choose a fixed or variable rate, can I change my mind later?
Yes! If you choose a 5 year fixed rate, you can opt to re-fix for a further 5 years for no additional fee. You can also choose to switch from variable to fixed or fixed to variable at any point during the loan term, for a small fee of $75.



How do I access loan statements?
Loan statements are provided monthly. If you are registered for e-statements, you will receive an email each month when your statement is available to view and download from our secure site.



How do I access Internet Banking?
Go to www.communityfirst.com.au and click the Internet Banking login icon from the top right hand side of the home page. Your username is your member number and you will be issued a temporary password once your loan has been funded. You will be required to change this when you login for the first time.

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Certain text and images are used by Community First under license from SunPower Corporation. SUNPOWER and the SUNPOWER logo are trademarks or registered trademarks of SunPower Corporation in the U.S., Australia, and other countries and are used here under license from SunPower Corporation.
1. Most energy per rated watt out of 151 panels tested. Photon International, Mar 2013.
2. #1 rank in "PV Module Durability Initiative Public Report," Fraunhofer CSE, Feb 2013. Five out of the top 8 largest manufacturers were tested. Campeau, Z. et al. "SunPower Module Degradation Rate," SunPower white paper, Feb 2013. See www.sunpowercorp.com/facts for details.
3. SunPower 327W compared to a Conventional Panel (240W, 15% efficient, approx. 1.6 m2), 8% more energy per watt, 0.75%/yr slower degradation. BEW/DNV Eng. "SunPower Yield Report," Jan 2013. Jordan, Dirk “SunPower Test Report,” NREL, Oct 2012. Campeau, Z. et al. "SunPower Module Degradation Rate," SunPower white paper, Feb 2013. See www.sunpowercorp.com/facts for details.
* All lending subject to lending guidelines. Terms and conditions, fees and charges apply - details available on application. Rate is current as at 01/09/13 and subject to change without notice. Discounted variable interest rate is 0.13%p.a. off the standard SunPower variable rate. Discounted variable rate will apply to the life of the loan to eligible applicants who apply by 31st December 2013. ^Rate is fixed for 5 years - at the end of the 5 year period, the loan reverts to the standard SunPower variable rate or can be refixed for up to a further 5 years. AFSL and Australian Credit Licence 231204.
**WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Example is based on $30,000 over 5 years.
^^ We will receive a commission from CGU Insurance for arranging this policy. Details of the commission we receive can be found in our Financial Services Guide. Community First does not guarantee the payment of benefits under the policy or the repayment of any premium. Community First Credit Union acts under our own Australian Financial Services Licence and under an agreement with the insurer, CGU Insurance Limited ABN 27 004 478 371 (CGU), the issuer of these products. The insurer of the Life and Trauma cover is National Mutual Life Association of Australasia Ltd ABN 72 004 020 437 AFSL No. 234 649 (NMLA) a member of the AMP Group. CGU administers the Life and Trauma cover on behalf of NMLA and CGU’s liability under that policy is limited to the administration of that cover including the management of claims. This information is general advice only and does not take into account your objectives, financial situation or needs (your "personal circumstances"). Before deciding whether to buy this product you should consider the relevant Product Disclosure Statement (PDS) as appears on this website and your personal circumstances.