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Own Your First Home Sooner with the Australian Government 5% Deposit Scheme

Imagine stepping into your first home sooner than you thought possible, with less upfront cost and more flexibility.  The Australian Government 5% Deposit Scheme is designed to help first home buyers, single parents, and legal guardians fast-track their journey to home ownership. With low deposit requirements and no income caps or Lenders Mortgage Insurance (LMI), it’s a great way to get started.  Whether you're buying a cosy apartment, a family home, or building on vacant land, the Scheme gives you the freedom to choose a home that suits your lifestyle, location, and budget.  Low deposit options - 5% for first home buyers, or 2% for single parents/legal guardians.  No income caps  No Lenders Mortgage Insurance  Wide choice of home types - from apartments to house-and-land packages.  Unlimited spots  Ready to get started?  Use the Housing Australia online eligibility tool to check your status in minutes and check out the price caps for the area you are looking to buy in with the postcode tool. Then, speak with a one of our Lenders to explore your options and start your journey to home ownership. 

WeMoney Award Winners

We’re thrilled to announce that The Mutual Bank has been recognised as a leader in Australian banking at the 2025 WeMoney Financial Services Awards!  Our achievements this year:  Lender of the Year (Customer Owned Bank) – Home Loans (Winner)  Best for First Home Buyers (Finalist)  Term Deposit Account of the Year (Customer Owned Bank) (Winner)  Outstanding Customer Service – Personal Loans (Winner)  Outstanding Customer Service – Car Loans (Winner)  These awards are a testament to our commitment to delivering outstanding value, service, and support to our Members.  With WeMoney’s audience of more than 1.3 million Australians (93% of whom are Gen Z and Millennials) these accolades cement The Mutual Bank’s position as a trusted choice for the next generation of banking customers.  Thank you to our dedicated team and loyal Members for making these achievements possible.   We’re proud to help our communities thrive with award-winning products and service. 

New Mutual App

We’re thrilled to announce that a new version of the Mutual App is now available in the App Store and on Google Play. It’s packed with improvements designed to make your banking experience better than ever. What’s changing? We have listened to Member feedback and the latest upgrade introduces a fresh, modern design with a new menu that makes navigation faster and more intuitive. You’ll also be able to personalise your experience by adding a profile picture and customising your Home screen with widgets like Accounts or Savings Goals. Enhanced security with Confirmation of Payee With this upgrade, we’ve rolled out Confirmation of Payee (CoP) – a new feature that helps ensure your payments go to the right person. When you make a first-time payment or update a saved payee, CoP checks the account name against the recipient’s bank records and gives you a match result before you proceed so you can ensure the funds go where you intend them to. Learn more about Confirmation of Payee. When can I get the new app? The new version will be available for download later this week in both the App Store and Google Play. If you have your device set to automatically update, it will happen automatically. Members using the older version of the app will receive an in-app message encouraging them to upgrade. Why upgrade? While the app will continue to function, the new version offers a more seamless experience – especially for payments. We’re excited to bring you a better way to bank - and we thank you for being part of The Mutual Bank.

Presenting Maitland Riverlights

The Mutual Bank is proud to be the presenting partner of Maitland Riverlights 2025, a spectacular celebration of culture, creativity and community spirit in the heart of the Hunter. Maitland Riverlights is more than just a festival. It’s a vibrant, family-friendly event that brings people together to connect, share stories and celebrate diversity. It perfectly aligns with our ethos of supporting regional prosperity and creating inclusive experiences for all. The program will feature an exciting array of cultural workshops, live performances and interactive activities held across various locations throughout the city of Maitland. Our CEO, Mark Williams, said Maitland Riverlights is a truly magnificent event that brings our community together to connect, swap stories and share joy. “Events like Maitland Riverlights energise our city centre, support local businesses, and contribute to the vibrancy and economic growth of our region,” said Mark. “We’re thrilled to help shine a light on Maitland and everything that makes it such a special place to live, work and visit.” Save the Date! Get ready for a week-long celebration from Tuesday 7 October and culminating with the main event on Saturday 11 October. More details about the program will be released closer to the date but you can stay up to date by visiting the Maitland City Council website: https://www.maitlandriverlights.com.au/. We can’t wait to see you there!

Mutual Care Appeal

The Mutual Bank is partnering with local community groups to help ease the pressure many local families are facing with the current cost of living.This September our branches and Head Office are collection points for donations of everyday items which charities regularly give out to assist those in need.Our Chief Member Officer Matthew Dunnill said The Mutual Bank is guided by its values of Integrity, Respect and Care and had proudly been partnering with community organisations for a number of years to support local people in need.“Our staff, Members and the wider community have always been incredibly generous - donating a few items each, which together makes a big difference,” he said.“We hope that the community will once again get behind this year’s Mutual Care Appeal by dropping even just one extra item into their shopping trolley with the thought it will help ease someone else’s burden.”Suggested donation items include:• Baby items such as wipes • Personal hygiene items such as toothpaste, deodorant and soap • Long-life products such as milk or custard • Tea and coffee • Pasta and pasta sauce • Canned fruit The Mutual Bank’s branches across the Hunter will be collecting items to donate to:• Dungog Shire Community Centre • Carrie’s Place • Maitland Region Community Support • Soul Hub Newcastle• Port Stephens Family and Neighbourhood Services • Our Circle Maitland The Mutual Bank has been helping people thrive since 1888.

We're passing on the RBA rate cut

We will be reducing our variable interest rates for existing Members' Home Loans and Business Loans following the Reserve Bank’s decision on Tuesday 12 August 2025 to decrease the official cash rate by 25 basis points. “The Mutual Bank’s interest rates are regularly reviewed to ensure we remain both competitive and sustainable,” said CEO Mark Williams. “With the RBA’s decision to reduce the official cash rate, we want to ensure our Members with a variable rate home or business loan can access rate relief as soon as possible, so we have quickly resolved to pass on the rate cut in full to our existing borrowing Members,” he said. Members will be informed about their new repayments in coming weeks. Our deposit rates remain under review. “We hope that the reduction in variable home loan interest rates will continue to ease the pressure for home and business owners after what has been a challenging rate increase cycle, with no change last month,” said Mark. Financial hardship support: Members affected by cost-of-living pressures are encouraged to discuss their loan with our friendly team. Please contact us if you need support to meet your loan obligations. Based on your circumstances, our team can assess your eligibility for a range of support options that may be available to you, such as loan deferrals, interest-only periods, or other appropriate relief. We are here to help you, if you need support please reach out to us. New here, and looking for a better deal on your home loan? Our Budget Home Loan has won a Mozo Experts Choice Home Loan Award in the Low-Cost Home Loan Category three years in a row. Make the switch and apply online today.

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