Two big mergers are slated to happen soon - Heritage and People's Choice, and Newcastle Permanent and Greater Bank. So why is this happening?
While still subject to regulatory approval, the two companies agreed to merge and become one of Australia's largest customer-owned banking outfits.
Despite the current low-interest environment, some term deposit rates have started to rise.
It was a tale of two customer-owned banks this week, with Beyond Bank cutting some home loan rates while Heritage Bank increased.
AMP and Heritage Bank slashed investment loan rates this morning, with one loan cut by nearly a full percentage point.
According to a recent survey from CUA, many parents recommend setting aside at least $8,000 for their child's first year.
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.
Australia's mutual banks, or customer-owned banks, recorded another year of growth despite the challenges presented by COVID-19.
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 and Heritage Bank have today switched on Apple Pay, enabling customers to now make contactless payments with their smartphone.