Costco is known for delivering member value across everything from groceries to electronics. In Australia, that value now extends to home loans through a partnership between Costco and Manage Your Loans. This guide explains how the program works, who is eligible, and what benefits are available to Costco Executive Members.
How the Costco Home Loan Partnership Works
Manage Your Loans is the exclusive mortgage broking partner for Costco Australia. Through this partnership, Costco Executive Members gain access to a dedicated team of brokers who provide home loan comparison, application management, and ongoing loan support — with the added benefit of Costco Shop Card rewards on settled loans.
The program operates in the same way as our standard broking service: your broker compares products from our lender panel, recommends options that suit your circumstances, and manages the application through to settlement. The difference is that eligible Costco Executive Members receive additional benefits, including Shop Card rewards, as part of the program.
Eligibility Requirements
- Costco Executive Membership. You must hold a current Costco Executive Membership at the time of loan application and settlement. Standard membership holders are not eligible for the program's exclusive benefits.
- Australian resident or citizen. Standard lending eligibility criteria apply, including Australian residency or citizenship requirements as set by individual lenders.
- Standard lending criteria. Your loan application is assessed under the same responsible lending obligations as any home loan. Your income, expenses, debts, and credit history are all considered.
Costco Shop Card Rewards
One of the standout benefits of the Costco home loan program is the Costco Shop Card reward. When an eligible loan settles through the program, the member receives a Costco Shop Card that can be used for purchases at any Costco warehouse in Australia.
The Shop Card is issued after your loan has settled and all eligibility criteria have been met. The value of the Shop Card is determined by the program terms and conditions, which your broker will explain in detail during your consultation.
It is worth noting that the Shop Card reward is a bonus on top of securing a competitive home loan — the primary benefit of the program is access to our full lender panel and the expertise of our dedicated Costco team to find you a suitable loan product.
What Loan Types Are Covered?
The Costco home loan program covers a broad range of loan types:
- Owner-occupied home loans — whether you are a first home buyer or purchasing your next home.
- Refinancing — if you want to switch your existing home loan to a more competitive product. Read our refinancing guide.
- Investment property loans — for members looking to grow their property portfolio.
- Construction loans — for members building a new home.
Shop Card eligibility and reward amounts may vary depending on the loan type. Your broker will confirm the specific benefits applicable to your loan during the consultation.
The Application Process
1. Initial Consultation
Contact the Manage Your Loans Costco team via the Costco landing page or by calling 1300 156 541. Your dedicated broker will discuss your goals, verify your Costco Executive Membership, and gather initial financial information.
2. Loan Comparison and Recommendation
Your broker compares products from across our lender panel, taking into account your income, expenses, deposit, loan purpose, and preferences for features like fixed versus variable rates, offset accounts, and redraw facilities. You receive a clear recommendation with a breakdown of rates, fees, and features.
3. Application and Approval
Once you choose a product, your broker prepares and lodges the formal application. The lender will conduct a credit assessment, verify your financials, and arrange a property valuation if required. Your broker manages all communication with the lender and keeps you updated at every stage.
4. Document Signing and Settlement
All loan documents are signed securely via SignAndGo, our digital document signing platform. There is no need to visit a branch or post physical documents. Your broker coordinates settlement with the lender, solicitor, and (if refinancing) your current lender.
5. Shop Card Issued
After your loan has settled and all program criteria are confirmed, your Costco Shop Card reward is issued. Your broker will advise on the expected timeline for card delivery.
Why Costco Members Choose Manage Your Loans
The Costco home loan program is designed to extend the value-for-money ethos that Costco is known for into one of the largest financial decisions most Australians will make. By partnering with Manage Your Loans, Costco members benefit from:
- Access to a broad lender panel with over 40 lenders
- A dedicated Costco team that understands the program
- Costco Shop Card rewards on settled loans
- Digital convenience with SignAndGo document signing
- Ongoing loan monitoring and annual rate reviews
Important Note
The Costco home loan program is subject to terms and conditions. Shop Card rewards are subject to eligibility criteria and are not available on all loan types. Costco Executive Membership must be current at the time of loan application and settlement. For full terms, visit the Costco program terms and conditions page.
Ready to explore your options as a Costco Executive Member? Visit our Costco home loans page or book a consultation with our Costco-dedicated team.