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Fuel crisis driving new wave of scams

Australians are being urged to stay alert, with a rise in scams linked to increasing fuel costs. Scammers are taking advantage of cost‑of‑living pressures by posing as trusted businesses and offering fake fuel discounts, rebates or urgent payment requests. What’s happening? The Customer Owned Banking Association (COBA) reports an increase in scam messages that: Offer fuel rebates or discounts and ask for your payment details to process a refund Claim toll or delivery costs have increased due to fuel prices Ask you to pay a small “fuel surcharge” to release a delivery or restore access to an account While these requests may seem minor, they are designed to trick you into entering your personal or payment details into fake websites. How these scams work These scams usually arrive via text message or email and often look very convincing. They may: Use company names or logos you recognise Include links to websites that look legitimate Create a sense of urgency so you act quickly In reality, the goal is always the same - to capture your personal information, such as: passwords banking details credit card information How to protect yourself A few simple steps can help keep you safe: Do not click links in unsolicited messages about tolls, deliveries or fuel rebates Always go directly to the company’s official website or app instead Check the sender’s details carefully. Scam messages often come from unofficial email addresses or phone numbers Be cautious of offers that seem too good to be true, especially around discounts or refunds. Legitimate companies will never ask for sensitive information via unsolicited messages.  Watch out for fake fuel tracking websites  Scammers may also create fake websites that claim to help you track fuel prices or find the cheapest fuel.  These sites are often designed to collect your personal information, not save you money.  What to do if you receive a suspicious message:  Do not interact with it  Delete it and report it   If you think you have shared your details or lost money:  Contact your bank or financial institution immediately  You can also report scams to:  ReportCyber  Scamwatch (run by the ACCC)  Even if you didn’t lose money, reporting scams helps protect others and stop these criminals. 

Internet Saver rate up by 0.50% as The Mutual Bank updates rates following RBA decision

The Mutual Bank will make changes to its deposit and lending interest rates following the Reserve Bank of Australia’s decision on 5 May 2026 to increase the official cash rate by 0.25% to 4.35%. Importantly for savers, The Mutual Bank will increase the base interest rate on its Internet Saver account by 0.50%, effective 20 May 2026.  “The Mutual Bank’s interest rates remain under regular review, to ensure we remain both competitive and sustainable,” said Chief Member Officer, Matthew Dunnill.  “We seek to balance the needs of both our depositor Members and borrower Members, by delivering consistently competitive rates across our range of products,” he said.    Deposit changes  Internet Saver The base interest rate on The Mutual Bank’s Internet Saver will increase by 0.50%, effective 20 May 2026. Other deposit products  Interest rates on most deposit accounts will increase by 0.25%, effective 20 May 2026   Trust Accounts, Mighty Mutual and Bonus Saver rate changes will be effective 1 June 2026.    Home Loan and business lending changes  Advertised rates  Fixed rate Home Loans and Business & Commercial Loans: effective 12 May 2026.  Variable rate Home Loans and Business & Commercial Loans: effective 20 May 2026.   For existing borrowers Variable Home Loan interest rates – including Owner Occupied, Investment, Business, and Commercial loans (for P&I and Interest only) will increase by 0.25% p.a. from 20 May 2026.   Members will receive written notification outlining their new repayments.    Matthew encourages Members affected by the rising cost of living to discuss their loan with our friendly team.  “Please reach out to your Lending Manager, visit a branch or phone our Hunter-based Contact Centre Team on 1300 688 825,” he said.  “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.”  You can see the full list of our current interest rates across our product range here. 

Trust is built here: Privacy Awareness Week 2026

Privacy Awareness Week (PAW) is a national initiative that promotes awareness of privacy rights and responsibilities and the importance of protecting personal information.   This year, PAW runs from 4-10 May 2026, with the theme “Trust is built here. In every privacy complaint. In every resolution.”   At The Mutual Bank, trust is at the heart of everything we do. Protecting your personal information, and responding respectfully if you ever have a concern, is an important part of how we earn and keep that trust.  This year’s theme focuses on building public confidence through strong privacy practices, including how organisations respond to privacy concerns and complaints. In other words: trust isn’t just about what we say, it’s built through what we do, especially when something goes wrong and needs to be put right.   How we protect your information  Our Privacy Notice explains how we collect and use personal information, who we may share it with, how you can access and correct your information, and how you can raise concerns about our privacy practices.   We also take reasonable steps to protect personal information from misuse, interference and loss, and from unauthorised access, disclosure or modification. We review our privacy practices regularly to ensure they remain appropriate.  You can view our Privacy Policy here: Privacy Policy.   A few practical tips to help protect your privacy  Be cautious about sharing personal information online or over the phone.  Use strong, unique passwords and enable extra security steps where available.  Watch out for unexpected messages asking you to “confirm” details or click a link.  Keep your devices updated and lock your screen when you’re not using it.   Have a question or concern about privacy?  If you have any questions or concerns about your privacy, you can contact our Privacy Officer:   Phone: 1300 688 825   Email: info@themutual.com.au   Address: PO Box 2487, Green Hills, NSW, 2320.    Want to learn more about PAW 2026?  Learn more about the national campaign and the 2026 theme on the OAIC website: Privacy Awareness Week 2026 

Scam Awareness

Bank impersonation scams are on the rise

Scammers are becoming increasingly sophisticated, with recent reports showing a rise in bank impersonation scams across Australia.  While these scams have not affected The Mutual Bank, we want to remind our Members to stay alert and aware, as smaller banks and mutuals are now being targeted alongside the majors.  What is a bank impersonation scam?  A scammer pretends to be from a bank’s fraud team. They often have convincing personal information such as your name, card number and sometimes your date of birth.  Scammers may:  Contact you by phone or text pretending to be your bank  Ask for access to accounts or security codes  Ask you to urgently transfer money to another account “for safety”    They may even send messages that appear in the same message thread as genuine bank messages.  Remember!   It’s important to remember:  We will never ask you to move your money to another account  We will never ask for one-time passcodes, PINs or passwords  We will not pressure you to act urgently over the phone or by text  If you’re ever unsure, please hang up and contact us using the phone number listed on our public website.    Watch: How bank impersonation scams work  This video explains how scammers impersonate banks and why their tactics can seem so believable.  Awareness is one of the most effective ways to protect yourself. By staying alert and knowing what to look out for, you can help keep your money and personal information safe. 

Community

Experience a Piece of Regional History at Warbirds Over Scone | Proudly Supported by The Mutual Bank

The Mutual Bank is honoured to once again support Warbirds Over Scone, returning in March 2026 as one of the Hunter region’s most iconic and historically significant events. More than an airshow, Warbirds Over Scone stands as a powerful celebration of aviation heritage and the stories that have shaped our region’s identity.  Hosted at Scone Airport 28 – 29 March, and set against the backdrop of the Hunter Valley, this two-day festival brings history to life with one of the Southern Hemisphere’s most remarkable collections of vintage and wartime aircraft. Highlights for 2026 include: Australia’s largest gathering of Supermarine Spitfires since WWII  A spectacular assembly of Mustangs, Kittyhawks, classic trainers and heritage favourites  The world’s only flying F4U1D Corsair  Australia’s only airworthy Vampire and the legendary Sea Fury “Southern Cross”  Aerobatic displays from Paul Bennet Airshows  Dozens of aircraft on static display, including rare heritage jets and meticulously restored warbirds  Visitors can also explore the Hunter Warbirds museum, enjoy adventure and helicopter flights, browse market stalls, view classic cars and take in a festival atmosphere that blends history, community and family fun.    Preserving Heritage. Supporting Community. Strengthening the Region.  As a customer owned bank, The Mutual Bank exists to support the people and places that make the Hunter region unique. Our partnership with Warbirds Over Scone reflects our shared commitment to celebrating local heritage and preserving the stories that define our community owned bank, The Mutual Bank exists to support the people and places that make the Hunter region unique. Our partnership with Warbirds Over Scone reflects our shared commitment to celebrating local heritage and preserving the stories that define our community.  For more than 135 years, we’ve reinvested our profits into what matters most:  Award winning home and personal lending winning home and personal lending  Personalised, community focused service focused service  Partnerships and events that honour and strengthen our region’s character  Warbirds Over Scone captures the rich aviation history and enduring spirit of the Upper Hunter – a spirit The Mutual Bank has proudly supported since 1888.     

Erin Howells Returns to Lead Internal Audit at The Mutual Bank

The Mutual Bank is pleased to welcome Erin Howells back to the organisation, returning to her role as Head of Internal Audit and rejoining the Executive team. Erin joined The Mutual Bank in May 2023 and was appointed to the Executive team in September 2023. Following a brief period away from the organisation, she has now returned to continue supporting strong governance and assurance outcomes for our members. Erin brings more than 18 years’ experience in the financial services sector, with a strong background in customer-owned banking organisations. Her deep understanding of the mutual banking environment, combined with her leadership expertise, positions her to make a significant contribution to the continued strength and effectiveness of The Mutual Bank’s internal audit function. In this role, Erin will help strengthen governance, risk management and assurance practices across the organisation, supporting the ongoing effectiveness of our internal control environment. We look forward to the expertise and leadership Erin will bring as we continue to serve our members and communities.

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