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Losing your job is tough, but you don’t have to go it alone. If you’ve got loans to repay, it’s important to talk to your lender about your situation as soon as you can, so they can support you.

What we can do to help you through financial hardship

If you’re a member with us and you’re having a tough time, the best thing to do is call, email or visit a branch as soon as you can. We can consider how to help in financial difficulty. Financial difficulty can be caused by a number of issues including:

  • unemployment or reduced income
  • injury or illness,
  • domestic violence,
  • natural disaster, or
  • relationship separation.

If you have Mortgage Repayment Insurance or Mutual Aid, please let us know when you contact us. We can also share with you details of financial counselling service providers who can help with a range of services to suit your situation.

What information we’ll need from you

If you’re experiencing financial difficulty and we consider changes to your loan contract will help, we may ask you for supporting documents and information including:

  • A summary of your current income, expenditure, assets and liabilities;
  • A medical certificate;
  • A copy of recent council rates and building insurance;
  • Details of wages and other types of income received (payslips, Centrelink statement, tenancy agreement or account statements confirming the amounts received); and
  • Bank statements.

Emergency financial assistance and emotional support

If you’re experiencing sudden and extreme hardship due to losing your job, there are people and organisations out there who can help. They can help with paying bills, food, transport, clothing and shelter, and provide counselling and emotional support.

You can find more information about emergency assistance on Moneysmart, but a few of these organisations include:

Government payments when you become unemployed

If you become unemployed, you may be eligible for government assistance through CentreLink such as JobSeeker or Youth Allowance. If you’re facing difficulty due to COVID-19,  please refer to our dedicated support page at this link.

Planning a home budget with a budget planner

If you need help managing your income and expenses, it could be a good idea to plan out your weekly, fortnightly or monthly budget. This can help you see where your money is going, plus find places to cut down on spending while your income from work either slows down or stops.

You can use the People’s Choice Budget Planner to track your income and expenses, then see how much you’ll have leftover or need at the end of every week. Planning a budget may not solve all your problems right away, but you may need to know this information if you apply for Government payments.

Becoming unemployed is tough, but there are people and organisations out there who can help. If you need support, reach out to your main financial institution or visit moneysmart.gov.au.


We know that life can take unexpected turns and unplanned events can happen. If you are struggling to stay on top of your finances, we may be able to help.

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