Members Equity Bank - Savings Account

Members Equity Bank is a small but fast-growing financial institution dedicated to helping Australian workers achieve their financial goals. It currently has offices in all the state capitals and employs over 600 staff. Its Mobile Lenders program operates in most metro areas and some provincial cities, keeping its services accessible to the public.

Company history

Members Equity Bank was launched by National Mutual as Super Member Home Loans. Backed by the Australian Council of Trade Unions, SMHL was affiliated with several trade unions and joined by superannuation funds. Realizing the need for simple, straightforward banking, it soon extended its services from simple member loans to a full range of financial products. It became Members Equity Bank in 1999 and was granted a banking license in 2001.

Low-cost banking

Members Equity Bank returns profits to its members in the form of lower rates, lower transaction fees, savings account, and continuously improving services. It is dedicated to keeping banking costs low and accessible to the public without sacrificing quality or service.

State-of-the-art technology

Part of the bank's move to improve customer service is its use of advanced technology to make its services more accessible. Its savings account are now available via EFTPOS, ATM, Bank@Post, Internet Banking, and Telephone Banking. Advanced only security systems ensure that all online transactions are safe and financial information is constantly protected.

Simple home loans

Members Equity home loans are rated AAA by Moody's Investors Service and Standard and Poor's, two of the premier accrediting agencies in Australia. They currently offer three home loan solutions: the Standard Home Loan, Ultimate Offset Savings Account, and Interest Only Investment Loan. All three require no application fees or account keeping fees, and are available in fixed and variable interest rates. Interest is charged monthly, so you can be sure your payments are always up to date.