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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.

Closure of our Edgeworth Branch

After careful consideration, we have made the difficult decision to close our Edgeworth Branch (including the ATM) on 30 September 2025, which will be the last day of trading.    This decision was not made lightly given that we remain firmly committed to providing a physical branch network for our Members.    Why is the branch closing?  The Mutual Bank must ensure that our Members’ funds are used prudently and invested where the greatest value can be provided to our Members.  Given the Edgeworth Branch has only seen 20 Members visit in the past six months, it is no longer viable to continue its operations.  We intend to redeploy these funds into our physical branch network, including refurbishment of existing branches and assessing future locations for new branches and also continuing the uplift of our digital and virtual capabilities.  What will happen to the current staff?  We are pleased to inform you that no staff will lose their jobs because of this closure. All staff members will be redeployed to our other branches within the network, ensuring that their expertise and dedication continue to benefit our Members.  What about the Members who used the Edgeworth Branch?  We are committed to keeping our Members informed throughout this transition. Members who frequently use the Edgeworth Branch have been contacted personally.   Members are welcome to visit our Mayfield Branch and can check our website for the locations of other branches. We are keen to maintain our physical presence and are actively looking into opening another branch in the Hunter Region to better serve our Members.  We understand that this closure may cause inconvenience to some Members, and we sincerely apologise for any disruption this may cause.  We appreciate your understanding and continued support as we strive to provide the best possible service to our Members.   What is the future of The Mutual Bank’s branch network?  As a customer-owned bank, branches are an important part of our service delivery and our strategic approach of providing Members with a choice of channels to do their banking.  We are actively looking for better positioned locations in the Hunter to best serve our Member base.  The Mutual Bank is investing in our branch network with a refurbishment plan and have just completed our East Maitland Branch renovations.   

Longtime Member helps cut the ribbon on our refurbished branch

In a world of change, Lyn Maber has been banking with The Mutual Bank for almost 60 years - and 44 of those years at the East Maitland Branch. She helped The Mutual Bank CEO Mark Williams cut the ribbon on Tuesday 3 June 2025 to officially open our newly-renovated branch on George Street East Maitland. Mark said the bank’s vision was to create a modern and functional environment that customers would love, and teams would enjoy working in. “Our passion for service shines through every aspect of our business,” Mark said. “We are committed to providing exceptional personal service in our branches, and this newly renovated branch is a testament to that commitment. This contemporary, state-of-the-art facility brings a fresh, modern feel for our Members, and for our Branch Team.” Ms Maber said she loves her new-look branch and was happy to continue her long stint of banking locally. “I’ve been with The Mutual Bank since I was about 18, and I am nearly 77!” she proudly exclaimed. “It’s the service, the friendliness that keeps me coming back. “I have been a member since I was in my late teens and back then it was a branch in Church Street Maitland. “When the East Maitland Branch opened [in 1981] I started to come here, and I’ve always stuck with them as they've always looked after me. “Only recently I needed some help with my cards because of scammers, and the service I received was extra special.“ One of the exciting new features of the renovated branch is a special area dedicated to community organisations. “We believe in supporting our community, and this space is available for local charities, sporting organisations and fundraising groups to use during branch hours,” said Mark. “They can bring in posters, set up a laptop, and engage with people who visit the branch about their upcoming events or initiatives. This is our way of giving back and fostering a strong sense of community.” Mark praised the architects, ARCH, and builders Collaborative Construction Solutions for making the vision of a new branch a reality with a seamless project.“Their expertise and dedication have been instrumental in bringing this project to life," he said. “Most importantly, we thank our Members for their patience and continued support during the construction period and we hope they enjoy the new look and features of their branch.”

Severe weather: We are here to help

The Mutual Bank team trust all our Members are keeping safe during the current extreme weather in the Hunter Region and parts of New South Wales.  Chief Member Officer Matthew Dunnill said The Mutual Bank Team is here to help any Member who has been impacted by rain and flooding.  “Members experiencing financial hardship, or any other banking issue, can call our team on 1300 688 825, email us at info@themutual.com.au or visit your local branch,” he said.  "We have a Financial Hardship Request Form on our website which you can fill out and email back to us, and our team will be in touch to see how we may be able to assist you. “Members who have CGU insurance can call 13 24 80 or make a claim online at cgu.com.au/claims.”    The SES have recommended Live Traffic to keep you updated on road conditions and in particular road closures. It can be accessed here. The NSW SES, ABC Newcastle radio and the Port Stephens, Maitland and Cessnock Councils have regular updates on their websites and Facebook feeds.  The safety of our staff is paramount and some branches may be closed during lunch breaks.  Anyone who has experienced damage from the rain or has floodwater threatening their property, please call the State Emergency Service on 132 500. Call 000 in an emergency.

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