Members Equity Bank | Banks & Credit Unions

Members Equity

Members Equity is an Australian bank that started out as a lending institution way back in 1994. At that time, it was commonly referred to as Super Members Home Loans or SMHL until it obtained a license to operate as a banking institution in July of 2001.

Just like a regular bank, Australian-based Members Equity offers practically all kinds of financial assistance to its members. These include personal, business, and home loans but if what you need is to secure your money, there are also savings accounts and term deposit accounts that you can try exploring.

The loans that Members Equity extends are particularly interesting because they come with very minimal fees apart from carrying generally affordable interest rates. This is mainly because the bank has done away with the idea of having several network branches. Dealing with various branch networks entails additional costs that ultimately become additional burdens to the end consumers.

Members Equity has obviously seen the added burden that these networks eventually place on their customers which can be quite significant if the client happens to have availed of a bank loan assistance. To help their clients out, Members Equity has introduced several technologically-advanced options through which they can transact their business with the said bank. In particular, when trying to meet certain financial needs, customers can deal with Members Equity through the Internet, the phone, through Bank Post, EFTPOS, and ATMs, all of which requires no extra costs on the part of the client.

This customer-centered approach that Members Equity adopted has made it a preferred bank among many Australians. It comes as no surprise then that the bank has experienced steady growth since it started operating and is now staffed by more than 600 personnel apart from having several offices in major capital cities of Australia. To date, its total assets are comparable with other regional banks operating in the Land Down Under.