Why are customer-owned banks merging?
Two big mergers are slated to happen soon - Heritage and People's Choice, and Newcastle Permanent and Greater Bank. So why is this happening?
Heritage Bank
Heritage Bank and People's Choice agree to merge
While still subject to regulatory approval, the two companies agreed to merge and become one of Australia's largest customer-owned banking outfits.
Term deposits push above 1% in reprieve for savers
Despite the current low-interest environment, some term deposit rates have started to rise.
Beyond Bank slashes home loan rates for FHLDS participants
It was a tale of two customer-owned banks this week, with Beyond Bank cutting some home loan rates while Heritage Bank increased.
AMP, Heritage slash investment home loan rates as investment lending grows
AMP and Heritage Bank slashed investment loan rates this morning, with one loan cut by nearly a full percentage point.
Parents need 'at least' $8,000 to afford a child's first year
According to a recent survey from CUA, many parents recommend setting aside at least $8,000 for their child's first year.
Heritage, CUA, Auswide, Horizon slash home loan rates
It was another fairly busy week for customer-owned banks, as Heritage, CUA, and Auswide all cut home loan rates by up to 45 basis points.
Customer-owned banks continue growth in tough year for banking
Australia's mutual banks, or customer-owned banks, recorded another year of growth despite the challenges presented by COVID-19.
Heritage, Suncorp, and Adelaide Bank slash home loan rates
Today some announced rate cuts came into effect, with Heritage Bank, Suncorp, and Adelaide Bank cutting home loans cut rates by up to 50 basis points.
ME & Heritage Bank customers can now use Apple Pay
ME and Heritage Bank have today switched on Apple Pay, enabling customers to now make contactless payments with their smartphone.
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