Members Banking for everyone

SERVICE ONE Members Banking is the region's only locally-owned banking institution. We don't have customers - we have Members, and we share the benefits of our profits with our Members and the broader community. Anyone can become a Member of SERVICE ONE and enjoy the personal and small business banking solutions we provide.

Benefits of banking locally

With the volatility global financial markets can experience, it is important to understand the benefits of banking locally.

• We offer competitive rates for loans and savings.
• We fund 100% of our loans from retained earnings and Member deposits - keeping funds within the community.
• We have no exposure to wholesale financial markets.
• We have a prudent and responsible approach to our lending.

Unlike other organisations, our Members are our shareholders so we put their interests first. It's easy to see why it pays to do your banking locally.

Opening a membership

Opening a membership with SERVICE ONE is just like opening an account at any other banking institution - you just need to complete a membership application form, bring this into a Branch and provide identification.

As we are a Member-owned organisation, you will also be asked to purchase Member shares when opening your membership. An adult share is $10 (if you are 18 years of age or over) and a junior share is $2 (under 18 years), and these shares are completely refundable should you choose to close your membership in the future.

Not just financial products and services, but solutions

SERVICE ONE (in partnership with external providers in some cases), offers a vast range of financial products and services, delivered through real personal service, including:

• savings and transaction accounts
• investment options including Term Deposits and online share trading
• a complete range of competitive home loans - including variable rates, fixed rates, continuing credit and a discounted introductory fixed rate loan
• personal loans, car loans, credit cards and overdraft
• Visa Debit Card with worldwide and online access to your funds
• insurance for home and contents, car, boat, caravan, loan protection, travel and more
• foreign exchange services, including Foreign Currency, Travellers Cheques and Cash Passport
• financial planning, and
• small business banking - accounts, loans and electronic point-of-sale terminals.

PLUS, the convenience of 24-hour Phone and Internet banking, and access to services such as BPAY, direct debit and credit, payroll deductions and personal cheque books.

We also offer a range of banking packages tailored to suite home owners, wealth managers and small business operators - perfect for consolidating your banking and allowing you to take advantage of extra savings and discounts.

Exceptional service

At SERVICE ONE, we pride ourselves on the exceptional service standards we provide our Members. It is this service that sets us apart, and is one of the reasons why we have so many long-standing Members who rely on SERVICE ONE. We understand our Members' banking needs.

Extensive Branch network

While many of us are conducting some of our banking electronically these days, sometimes you just need to speak to someone face-to-face. With Branches across Canberra and surrounding NSW (and some even open on weekends), you shouldn't have to travel too far to see us.

rediATM access

As SERVICE ONE is part of the credit union and mutual building societies movement, our Members have access to the rediATM network. With more than 3,500 ATMs across the country, access to cash is never far away. rediATM is the second largest ATM network in Australia and by using rediATMs, you can keep your ATM fees to a minimum and avoid direct charge fees.

Membership Service Fee

Unlike some other banking institutions, we have a Membership Service Fee as opposed to individual account keeping fees. This means you can have several accounts with us and still only pay the one fee.

Even better, if you maintain an average monthly credit balance of $1,000 or more, you won't be charged the monthly Membership Service Fee. In addition, holding specific products or accounts with us may exempt you from having to pay this fee.

The bigger picture

SERVICE ONE is part of a broader network of credit unions and mutual building societies. We are an Authorised Deposit-taking Institution (ADI), regulated and licenced under the same regulatory framework as the banks. We have strict prudential standards addressing capital, liquidity and credit risk management.

Our network represents collective assets of over $65 billion and 4.5 million Members. The household deposit base of Australia's mutual ADIs is one of the largest in the country.

If we look more locally, we started at the universities in Canberra over 40 years ago and at the South Coast over 50 years ago. We have strong ties with the public service sector, hospitals, universities and regional areas such as the South Coast and Snowies regions. So while we are a relatively new identity in the marketplace, our origins are well established and we have a thorough understanding of the needs of our Members.