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Scheduled Maintenance 28 June 2017

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During the period of 10pm till midnight on Wednesday 28 June 2017, intermittent access to Internet Banking, Mobile Banking, Telephone Banking, Mobile App and Mutual Alerts may occur.

This is due to important and urgent maintenance being performed during this time.

The focus of this work is to again improve the resiliency of our core computer system, availing our members of the maximum level of availability that we can.

It is not expected that this maintenance will effect members utilising cards, nor users of The Mutual’s ATMs.

We appreciate that some members will be inconvenienced whilst these important works are undertaken, and apologise for any inconvenience caused.

 

Variable Home Loan Interest Rate Change

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At The Mutual interest rates are regularly reviewed to ensure we remain both competitive and sustainable.

While the major banks have been quick to move on interest rates following changes in the financial services industry, our decision to delay any increase in loan interest rates has provided our members with additional time to review their position and prepare their household finances for changes in monthly loan repayment requirements.

In order to balance the needs of members and after careful consideration the decision has been made to increase our Variable Home Loan interest rates effective 10 April 2017 as follows:

  • Owner Occupied Home Loans will increase by 0.1%p.a
  • Investment Home Loans will increase by 0.2%p.a

This decision to increase by 0.1%p.a will change repayments by approximately $6 per month for each $100,000 of loan balance, based on a 30 year loan term.

The Mutual's CEO, Geoffrey Seccombe, said:"In making today's announcement we understand the impact this may have on our members. The decision to increase loan rates was based on the needs of all our members".

In early May borrowing members will receive a letter outlining their new variable home loan interest rate and monthly loan repayment amount.This new loan repayment amount will become effective from 1 June 2017.

If you are having difficulties with your loan repayments or would like to discuss options please talk to us on 1300 688 825 or visit a nearby branch.

 

   

The Mutual purchases prime position in Hunter's retail hub

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Read more: The Mutual purchases prime position in Hunter's retail hub

 

Better Budgeting

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When creating a budget it is important to keep in mind that money is only being spent on the things that you really need. This isn’t to say that you should only be living on bread and water. However, conscious spending is the key to an effective budget.

Read more: Better Budgeting

   
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