Catholic Super’s bank hits $100 million in deposits

$100 million in deposits

Catholic Super’s bank, MyLife MyFinance, is stamping its credentials as an alternative to the big banks by attracting more than $100 million in deposits, with competitive savings and term deposit rates.

Its customers are largely teachers, nurses and community sector people who care for and educate millions of Australians every day in hospitals, schools and aged care services.

The profit-for-member bank is 100% owned by Catholic Super. The bank is enjoying strong growth year on year with its competitive home loans, car loans, investment loans, personal loans, term deposits and savings accounts.

The bank’s General Manager, Mark Sawyer said: “The strength of our business model has resulted in the bank quickly reaching this milestone. Customers are looking for financial alternatives to the big banks and the personal banking experience we offer. They like that the same place where they invest their super is a one-stop-shop for their banking needs too.

“Our sharp interest rates will appeal to customers who want good rates for savings and term deposits and some of the best priced home loans on offer. We’re very much a savings and loan bank and one of the few that offers a competitive interest rate simply for parking everyday savings.

Mark Sawyer
MyLife MyFinance General Manager, Mark Sawyer

“The MyLife MyFinance bank offers fee-free banking through our mobile app and internet banking. We also cover our customers’ refinancing costs saving them over $1,000* when they bring their home loan to our bank. There are no catches. No hidden fees. No surprises. It’s banking like it should be.”

To learn more about our sharp term deposit rates and competitive savings, call us on 03 9629 4484 or email info@mylifemyfinance.com.au

* Saving of $1,004 calculated from a sample of home loan applications

In deciding whether this product meets your needs, we recommend that you read this page in conjunction with our Product Disclosure Statement, Supplementary Product Disclosure Statement (Interest Rates), Supplementary Product Disclosure Statement (Schedule of Fees and Charges), and our General Terms and Conditions. A copy of these documents are available on our website. You can also obtain a copy of these by contacting our office on 03 9629 4484. MyLife MyFinance Limited Trading as MyLife MyFinance. ABN 54 087 651 750. AFSL/Australian Credit Licence Number 245606.