Members Equity Credit Cards

The Member's Equity Bank is a 100% owned Australian financial institution specializing in superannuation. They offer a low interest MasterCard.

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Members Equity Overview

The Members Equity Bank has built itself up quite a reputation throughout the years and has become a strong leader in Australian banking circles. Find out more about this solid and dependable bank in this article.

In July 2001, the Members Equity Bank first received its banking license and was regulated by the Australian Investment Commission and the Australian Prudential Regulation Authority. It was established and run with many Australian superannuation funds, and was committed to offering products and financial services that were affordable. The main service this bank now offers home loans since it emerged after the founding of the Super Members Home Loans in 1994.

The Members Equity Bank has granted over 100,000 Australians home loans worth more than $13 million. The Super Members Home Loans addresses the financial concerns of Australians and also offers business products, term deposits, savings accounts, credit cards and personal loans.

Best known for its home loans, the ME Bank offers three types that all have no account maintenance fees, no application or valuation fees and low rates of interest.

Members equity Bank home loans

Here are some of the major features you can find with the ME Bank home loans programs.

• The Standard Home Loan - This loan is a well-priced and flexible one that gives customers the opportunity to borrow $40,000 minimum and up to 95% of the property value, which is calculated according to an assessment. Payments can be made monthly, biweekly or weekly. A minimum $10,000 is required for clients to close their loans free of charge. Home loan accounts can be accessed through customer contact centers, through telephone banking or online.
• The Interest Only Investment Loan - This type of loan is recommended for many investment opportunities including real estate. As with the Standard Home Loan, 95% of the property value or a minimum amount of $40,000 can be borrowed. Payments must be made monthly and for the first five months the repayments will only be paying off interest. Payments that include principal and interest begin on the sixth month.
• The Ultimate Offset Account - This is a home loan that serves many purposes and customers have access to a $50,000 minimum amount and up to 95% of the property value. Payments can be made monthly, biweekly or weekly. Funds can be accessed at ATMs free of charge throughout Australia, or through Bank@Post or Electronic Funds Transfer at Point of Sale. There is also the option of paying the account directly with payments from a salary.

Personal loans

Personal loans are also offered by the Members Equity Bank for such uses as home renovations, travel or vacation money, cash for emergencies, educational expenses and investments. There are no annual fees associated with a personal loan from the Members Equity Bank, and there are no account maintenance fees or additional repayment fees. It has a low fixed rate interest, and there are no penalties if customers want to make early payments on the loan. Loans can range from 1 to 5 years in length.

Credit cards

This bank also offers the Members Equity MasterCard, which has one of the lowest interest rates in the country. It has a $30 annual fee, 44 days of interest-free shopping, and additional cardholders can be added at no charge. If the card is lost or stolen it can be replaced wherever you are in the world for emergency purposes.

Term Deposits and savings accounts

These are other important services offered by the ME bank, since saving is one of the things that Australians do best. They offer different banking options to help people throughout the country get the most out of their money and to help manage their funds.

• ME Online Savings Account - Customers using a savings account are able to withdraw funds without penalty from their accounts at any time. Transactions are done using Internet banking services and telephone banking so there are no banking fees involved. There is no minimum balance required to maintain an account or to open one. An interest rate of 6.45% annually is paid daily for each dollar in the account.
• ME Term Deposits - Customers can choose between a number of different term deposit options available from the bank. Competitive interest rates are paid for all of them, and you have the choice of 24 months, 12 months, 9 months, 6 months and 3 months terms. Each has it's own rate of interest charged, and there is no fee for account management or for opening an account.
• InterestME Savings Account - This is 2 accounts rolled up in one and a customer can enjoy a high savings account interest rate and yet still be able to access the funds like a transaction account. For amounts over $3000, a 6.50% interest rate for the year is applied for each dollar. For any amount less than $3000 only a .25% rate of interest is given. There are no maintenance or balance fees for account management associated with this account, and customers are also able to make 15 monthly transactions using EFTPOS. The Members Equity Bank also addresses business-related products and services with their Members Equity Business Banking. Business loans, investments and term deposits, financing for assets, construction loans and property investment are all part of the business products being offered. The Members Equity Bank has risen from a simple company offering home loans to a thriving financial institution that provides Australia with quality affordable services for both personal and business clients. It has become and will remain a strong leader in the Australian financial sector.

The Member's Equity Bank provides an alternative to the major banks with a fairly quality low interest credit card that competes strongly in the low rate card market. Also has very low international and foreign currency fees.

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• Interview with Ian Hendey: Group Executive Brand, Product and Distribution of ME Bank
  

  The following interview is with Ian Hendey, Group Executive Brand, Product and Distribution of ME Bank. ME Bank was born with the support of industry super funds – a new kind of bank with a new deal for working Australians. Ian Hendey discusses about the products of ME Bank and also about the future products [...]

• Members Equity Bank MasterCard
  

  ME (Members Equity) Bank is one of the most important financial institutions in Australia and has recently become very famous for some of the lowest rates included in the credit card programs they offer to every customer. Therefore, make sure you read the following pieces of information carefully if you want to have a clearer idea about the advantages and other features provided to you.

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