What’s the difference between a debit card and credit card? A debit card provides access to your own money held in a transaction account. A credit card is a loan provided by your bank that gives you access to funds or ‘credit’. This becomes a debt and you will need to repay the minimum balance each month. Spending your own money versus the banks ...

What is a customer-owned bank? Customer-owned banks or mutual banks, provide consumer banking services such as credit cards, home loans, personal loans, savings accounts, and term deposits like any other bank. The key difference is in the ownership structure. The bank is owned by its members rather than shareholders. Certain issues or changes may...

With technology always changing, and scammers becoming even more clever and cunning, It’s important to stay on top of the latest scam and fraud tactics used by scammers. By keeping your personal details safe and staying on top of the latest scams that are circulating, you can effectively protect yourself from scams and avoid being a victim. How to...

At some point you’ll probably need a loan for something whether it be a holiday, car, credit card or home purchase. One of the ways a lender will assess your application is by looking at your credit history. This is why understanding what your credit report and credit score says about you is important. What is a credit score? Many people use the ...

The end of the current financial year is 30 June with the new year beginning on 1st July. With End of Financial Year or EOFY quickly approaching, it’s important that you get your tax return checklist together and have the correct documentation to complete your tax return. Here are 5 key things that are required when you lodge your tax return: ...

Not all banks were created equal. Which is why it’s important to know what banking services are offered so that you can decide on what is best for you based on your own personal finance needs. As a customer-owned bank, we have a range of banking services available for our members accompanied by personalised customer service to support those in our...

Over 50 & Buying Your First Home For many people, buying a home is a major financial commitment. Have you considered buying a house later in life?Are you looking for a way to get out of renting? Are you trying to get into the market before interest rates increase? Whatever your reason, a mortgage could give you the stability you are looking fo...

Tips for preparing for a change in interest rates Why do interest rates change? To understand why interest rates change, we'll first talk about the cash rate. The cash rate is a rate set by the Reserve Bank of Australia (RBA) representing the interest that banks and lenders have to pay on the money that they borrow. This rate will rise to try and...

What is Being Environmentally Friendly? Being environmentally friendly means living a lifestyle that is better for our planet and reducing your environmental impact. However, it does require some fundamental behavior changes in our shopping and everyday activities. It does also mean more than sorting your paper from your plastic. There are many w...