News

Home News

Managing Money

Interest Rate Updates Following RBA Decision

The Mutual Bank will make changes to a range of deposit and lending interest rates following the Reserve Bank of Australia’s decision on 3 February 2026 to increase the official cash rate by 0.25% to 3.85%.  Chief Member Officer, Matthew Dunnill, said The Mutual Bank continues to carefully balance the needs of both depositor and borrower Members.  “The Mutual Bank’s interest rates remain under regular review, to ensure we remain both competitive and sustainable,” Matthew said.  “We seek to balance the needs of both our depositor Members and borrower Members, by delivering consistently competitive rates across our range of products.”    Recent Term Deposit Increases  In anticipation of the RBA decision, The Mutual Bank recently increased several Term Deposit interest rates:  Four-month Term Deposit: now 4.3% p.a.  Twelve-month Term Deposit: now 4.25% p.a.    Savings Account Updates  Savings Account interest rates will increase by 0.25%, effective 1 March 2026.    Home Loan and Business Lending Changes  For existing borrowers:  Variable Home Loan interest rates — including Owner Occupied, Investment, Business, and Commercial loans — will increase by 0.25% p.a. from 23 February 2026. Members will receive written notification outlining their new repayments.  Fixed Loan interest rates will increase:   Owner Occupied: +0.2%  Investment & Business Loans: +0.25% Effective 6 February 2026.    Support for Members Experiencing Financial Pressure  Matthew encouraged any Member feeling the impact of rising living costs to reach out early.  “Please reach out to your Lending Manager, visit a branch or phone our Hunter-based Contact Centre Team on 1300 688 825. Based on your circumstances, our team can assess your eligibility for a range of support options such as loan deferrals, interest-only periods, or other appropriate relief.”  Members can view the full list of The Mutual Bank’s current interest rates here.    About The Mutual Bank  The Mutual Bank is a customer-owned bank headquartered in East Maitland and has been helping people thrive since 1888. Our Budget Home Loan has proudly won the Mozo Experts Choice Home Loan Award in the Low-Cost Home Loan category for three consecutive years, as well as multiple WeMoney Awards, including Customer Owned Bank Lender of the Year for 2025.   

Comm

A Moment for Reflection and Kindness

Today, 22 January 2026, Australia observes a National Day of Mourning to honour the lives lost and all those affected by the recent tragedy at Bondi. The national theme, “Light will win – a gathering of unity and remembrance,” encourages communities across the country to pause, reflect, and come together with empathy.  This day invites us to acknowledge the impact such events can have on individuals and communities. Simple actions, listening, checking in on someone, lighting a candle, or observing a moment of silence, can help create a sense of connection and support.  At The Mutual Bank, our purpose is grounded in people. We believe communities grow stronger when we lead with empathy, support one another, and choose kindness in small, meaningful ways.  In the spirit of this important day, The Mutual Bank will undertake an act of kindness to support our community, by making a donation to Lifeline Hunter to assist their ongoing work in providing vital crisis support across our region.  If you’re feeling the emotional weight of recent events, consider reaching out to a trusted person or a support service. Lifeline Hunter (13 11 14) offers confidential assistance to anyone who needs to talk.  A nationwide minute of silence will be observed at 7:01pm AEDT, and Australians are invited to participate in whatever way feels meaningful, through quiet reflection, acts of kindness, or displaying a candle in remembrance.  As a community minded organisation, The Mutual Bank remains committed to compassion, respect, and unity – today and every day. 

News

Festive season trading hours

Over the festive season our Branches and Contact Centre will be closed on the following days:    Christmas Day: Thursday 25 December 2025  Boxing Day: Friday 26 December 2025  Saturday 27 December 2025  New Years Day: Thursday 1 January 2026   Regular hour will apply on all other days   Scheduled Payments:   Scheduled payments for 25 – 27 December 2025, will be processed in advance on Wednesday 24 December.   Scheduled payment for Thursday 1 January 2026, will be processed in advance on Wednesday 31 December 2025.    We thank you for your understanding and wish you a happy and safe festive season.   

Joseph Hill Earns Prestigious Career Award

The Mutual Bank is proud to announce that our Data and Analytics Intern Joseph Hill has won the Student Employability Achievement Award at the University of Newcastle’s 2025 Employability Excellence Awards. Joseph joined The Mutual Bank in June 2025 and is working in the Data and Analytics team whilst studying a Bachelor of Mathematics / Bachelor of Data Science and quickly became an integral part of our team. From day one, he impressed us with his fresh ideas, positive attitude, and eagerness to learn. His hard work and commitment have now been recognised on a major stage.  This award celebrates students who demonstrate initiative, adaptability, and dedication to developing employability skills through diverse experiences. Joseph’s journey is a shining example of how curiosity and persistence can lead to incredible career opportunities.  We were proud to celebrate alongside Joseph at the awards night and even more excited when the University of Newcastle’s media team visited our Head Office to film a special video highlighting his achievement. Want to hear Joseph’s story? Watch his video here Why This Matters for Your Career  At The Mutual Bank, we believe in creating career-ready opportunities for students and graduates. Internships like Joseph’s provide hands-on experience, mentorship, and exposure to real-world projects that help future professionals thrive.  As the University of Newcastle celebrates 60 years of serving our regions, these awards showcase the partnerships and programs that prepare students for life beyond university – through career-ready placements, innovative teaching, and impactful industry engagement. We’re honoured to play a role in this journey.    Explore Careers at The Mutual Bank  Looking for an opportunity to kickstart your career in banking, data analytics, or customer service? Join a team that values growth, innovation, and community impact.  View Current Opportunities Interested in doing an internship or University placement at The Mutual Bank? > Contact our People and Culture team    Congratulations again, Joseph! You’ve done us proud. 

Managing Money

Sending money oversees now even easier

We’re excited to announce a new feature that makes sending money overseas easier than ever for our Members.  You can now make international transfers under $2000 directly through Internet Banking — securely, conveniently and with no fees for self-service transactions.  What’s New?  Through our trusted partner Convera, Members can now access international money transfers online. Whether you're supporting family abroad, paying for overseas goods or services, or managing international business, this feature puts the power in your hands at your convenience.  Self-service convenience: No need to visit a branch, just log in to your Internet Banking to send international transfers. If you need to make a payment more than $2000, please contact us.  More than 30 currencies supported: Including USD, EUR, GBP, NZD, INR, CNY, JPY and more.  No fees for online transfers: Save on costs when you manage transfers yourself in Internet Banking.  Secure and reliable: Backed by Convera’s global network.  Making an international payment is simple:  Log in to Internet Banking. Go to Send Money > International Transfer. Choose an existing payee or add a new recipient. Enter recipient details including bank name, SWIFT/BIC, and account number or IBAN. 5. Select the currency and amount.  Review the exchange rate and enter the purpose of payment. Submit the transfer—new payees will require second factor authentication (SMS One Time password or your token) for verification. Optionally, you can add your email to receive a receipt. To complete a transfer, have the following information ready:  Recipient’s full name and address  Bank name and SWIFT/BIC code  IBAN or account number  Reason for payment  Learn more about International Transfers and read our Frequently Asked Questions.  Important information: The Mutual Bank has entered into contractual arrangements with Convera Australia Pty Ltd (ACN 150 129 749; AFSL 404092) (“Convera”), to assist it in fulfilling certain foreign exchange and payment services, including telegraphic transfers. The relationship relating to the services described is solely between you and The Mutual Bank. If you make or receive an international transfer, the Mutual Bank will receive a commission from Convera.  

Home and Property

Insure with CGU and get a $100 eGift Card

Looking to protect your home, car, or investment property? Now’s the perfect time. From 27 October to 7 December 2025, The Mutual Bank is offering a $100 eGift card for every new eligible CGU insurance policy taken out. Whether it’s Building, Contents, Landlords, or Comprehensive Motor Vehicle Insurance, you’ll be rewarded for helping secure your peace of mind. How it works Take out a new eligible CGU policy through The Mutual Bank. Ensure your policy starts during the offer period and is paid in full or first instalment. Receive your $100 eGift card via email or SMS within 8 weeks of the campaign end. Ready to insure and be rewarded? Visit CGU Insurance campaign, call into a branch or call us on 1300 688 825. Promotion valid from 27 October until 7 December 2025. The eGift Card will be provided per eligible policy, not per person. Terms  and conditions apply.  The Mutual Bank ABN 94 087 651 983, AFSL 238139 acts under its own AFSL and under an agreement with the issuer Insurance Australia Limited ABN 11 000 016 722, AFSL 227681 under the CGU brand. Any advice provided is general advice only and does not take into account your individual objectives, financial situation or needs (your personal circumstances). Before using this advice to decide whether to purchase a product, you should consider your personal circumstances and the relevant the PDS and TMD from the CGU website https://www.cgu.com.au/partner/policy-booklets.  

Categories

Comm
Community
Home and Property
Managing Money
News
Scam Awareness

Tags

Event Member notices Awards Budgeting

Tags

Event Member notices Awards Budgeting