People's Choice Credit Union Discharge Authority: Steps

To obtain a People’s Choice Credit Union discharge authority, request the form for your client’s loan through People First Bank on 13 11 82. Have every borrower sign the authority and return it through the route supplied with the form. Keep the bank’s acknowledgement before treating the discharge as underway.

For a refinance, the signed authority lets the outgoing bank prepare to release its mortgage over the property. The incoming lender or its settlement representative arranges the payout and settlement. An old credit union form needs a version check before the client signs it.

Check the Current People’s Choice Name and Route

Match the lender name on the client’s latest statement with People First Bank’s current website before choosing the discharge form. As at October 2026, People First Bank is a trading name of Heritage and People’s Choice Ltd. Heritage Bank and People’s Choice merged on 1 March 2023, and the merged bank subsequently announced the People First Bank brand.

Start with the official People First Bank forms page. Use the bank’s published number, 13 11 82, to request the discharge authority for the specific loan account. An authenticated customer can also send a secure message through the bank’s current Digital Banking service.

Treat a saved form headed People’s Choice Credit Union as possibly superseded until the bank confirms it applies to that account. A familiar logo or an old settlement email address doesn’t establish that the form is current. Keep the version supplied by the bank with its return instructions.

If the statement identifies a Heritage Bank loan, use the Heritage Bank discharge guide for that account. For broker access and brand checks, use the separate People’s Choice broker access guide.

Request and Complete the Authority

Request the current authority using the client’s loan account details, then complete the bank-issued version. As at October 2026, People First Bank’s official support route is 13 11 82 or a branch. Give the bank enough information to identify the former People’s Choice loan and the intended refinance.

1. Identify the account. Have the latest statement, member or customer number and every loan account number being paid out ready.
2. Explain the release. State whether the client is refinancing, selling or paying out the loan without a new lender. Identify every property to be released.
3. Complete the authority. Enter borrower names as recorded on the loan, contact details, property details and the proposed settlement date where requested. Include the incoming lender or settlement representative’s details in the relevant fields.
4. Arrange signatures. Have every borrower sign and date the authority. Follow the supplied instructions for any other required signer, representative authority or signature method.
5. Return the complete form. Use the bank-issued return instructions and retain a copy of every page. Ask for an acknowledgement that identifies the loan and confirms whether anything remains outstanding.

The details above are a preparation checklist. The form supplied for the account determines its required fields and signing instructions. If several properties secure the loans, specify the release requested instead of assuming one paid-out account releases every property.

If the bank returns the authority, compare its reason with the submitted copy. Correct the missing signature or mismatched account detail and return the full corrected version through the same instructed route. Keep the bank’s confirmation that it accepts the correction.

Lodgement Notice and Payout

Lodge the signed authority early enough for the bank’s stated preparation period, then arrange a payout figure for the actual settlement date. Obtain the required notice and earliest available settlement date when requesting the form. Record whether the bank counts notice from receipt or from acceptance of a complete authority.

Give that date to the incoming lender or its settlement representative before they book settlement. The authority must permit the bank to deal with the person requesting the payout. Have that representative use the discharge team’s instructions to request the final figure and coordinate payment.

As at October 2026, People First Bank’s home loan FAQs say customers can obtain a payout figure by phone or at a branch. The figure applies only to the requested date. The online loan balance excludes accrued interest and applicable fees, so it isn’t the amount to use for settlement.

If settlement moves, request a fresh figure for the new date. Keep repayments running until the bank confirms the loan is paid out. Tell the settlement representative about any new transaction that changes the amount owing.

People First Bank’s Fees & Charges document, effective 5 May 2026, lists a $350 mortgage discharge preparation fee in Australian dollars. It also lists applicable solicitor and government costs separately. Use the bank’s disclosure documents to access that schedule.

A fixed-rate break cost is separate from the discharge fee. It depends on a break event under the loan terms, so request an itemised payout for any fixed portion. Don’t treat $350 as the total cost of leaving the loan.

If the incoming lender hasn’t received a figure, follow up using the accepted authority and the bank’s reference. Establish whether the bank needs another document, whether the requester has authority or whether the settlement date has changed. Resolve that issue before relying on the booking.

Confirm the Release and Close Accounts

Confirm both the loan payout and removal of the old mortgage before closing the discharge file. Ask the settlement representative for the settlement confirmation and evidence that the discharge is registered on the property title. A zero loan balance alone doesn’t show that the mortgage has been removed.

For a refinance, the title will normally show the incoming lender’s mortgage after the outgoing mortgage is discharged. Compare the property and mortgage details with the authority. If the old mortgage remains, give the settlement representative the title evidence and settlement reference to investigate the registration.

Deal with offset and transaction accounts separately. As at October 2026, People First Bank’s forms page includes an account closure form. Request closure of accounts the client no longer needs after moving their balance and changing salary credits, direct debits and scheduled payments.

Check that each intended account is actually closed and retain the final statements. Keep an account open if the client still needs it, with its ongoing terms understood. Don’t assume the mortgage discharge automatically closes the client’s membership or other banking products.

The general discharge guide explains the settlement roles and fee types across lenders. Use the lender discharge guides when the client has another mortgage to release. Finish this file with the accepted authority, dated payout, settlement confirmation, registered release evidence and the status of each account the client asked to close.