News

For the third year running, The Mutual Bank’s Budget Home Loan* has won a Mozo Experts Choice Home Loan Award in the coveted Low-Cost Home Loan category. The Mozo Experts Choice Awards have been helping consumers make informed purchase decisions for over a decade, with their extensive award selection process evaluating thousands of products. The Mutual Bank’s CEO, Mark Williams, said the triple win for the Budget Home Loan was fantastic news for the Hunter-based bank. “Our commitment to offering competitive products and making our Members’ mortgage journey more manageable has been recognised for the third year with a win in these awards, and that recognition highlights our dedication to helping people thrive,” he said. “We know people are always looking for better value products and services, particularly given the cost-of-living pressures.  Our Budget Home Loan has been consistently popular with home buyers looking for a no-frills home loan with a low, variable interest rate that is complemented by personalised and attentive service.” AJ Duncanson, Data Director and Mozo Experts Choice Awards Judge said The Mozo Experts Choice Home Loan Awards for 2025 help Aussie consumers cut through the noise and identify great value options. “The Mutual Bank’s Budget Home Loan stood out for its combination of a low interest rate and the fact it has no application fee and no monthly or annual service fee - features that can make a real difference to borrowers looking to keep costs down,” he said. Mozo considered thousands of rate variants across 444 home loans from 97 lenders.  For the Low Cost Home Loan category, the Mozo judges assessed variable rate loans for owner-occupier borrowers making principal and interest repayments, identifying these as the lowest cost for several different loan-to-value ratios. More information about the Mozo Experts Choice Awards and the full list of winners here. *The Mozo Experts Choice Low Cost Home Loan award was awarded to The Mutual Bank’s Budget Home Loan Special Variable Rate for owner-occupied loans with ≤80% LVR and Principal and Interest repayments. Eligibility and lending criteria, terms, conditions, fees, and charges apply and are available on application.

You can now apply for a loan with The Mutual Bank from the comfort of your own home, with our new digital lending channel. Applicants can securely provide loan and personal details, upload statements and verify identification on the platform – all on your phone, tablet or home computer, at any time of the day or night. CEO Mark Williams said the new digital loan platform complements the bank’s well known personalised service and enables growth. “Member expectations are changing, and we are using this technology as a tool to assist and enhance one of our key strengths – our personal service. “This digital loan platform secures The Mutual Bank’s future by making our loans more accessible to a wider audience across Australia, ensuring we remain competitive and relevant in a rapidly changing environment. “We’re proud to offer banking choice and convenience. It’s now even easier to do business with us by applying online for a loan or speaking directly with our team.” Mark said the new system will not replace staff, rather streamline workloads allowing for more time spent with Members and increasing capacity for growth. “We have been helping our community thrive since 1888 and have constantly evolved to meet the needs of our Members. This is an exciting next step in our evolution to support our existing Members and grow our membership-base. “Our loan origination and loan processing teams, under Chief Member Officer Matthew Dunnill and Chief Operations Officer Felicity Laczina respectively, are the engine room at The Mutual Bank and continue to grow in numbers. “They are thrilled with this new solution that creates efficiencies allowing them to focus on what they do best, serving our Members. Both hailing from the Hunter, Matthew and Felicity brought extensive retail banking knowledge and experience to The Mutual Bank when they were appointed in 2022. Matthew has more than 25 years of experience in mutual and major banks. Felicity has more than 15 years of experience in the customer-owned banking sector, including more than six years as an executive at another local financial institution. The Mutual Bank’s digital lending channel service provider, Nimo Industries, recently won a 2024 FinTech award for Excellence in Consumer Lending. “Collaborating with The Mutual Bank has been an absolute pleasure,” Nimo Industries Chief Executive Officer Leann Jones said. “Their dedication to their Members, commitment to excellence and focus on member satisfaction perfectly align with our values.” Learn more about our home loans and personal loans.  

For the second year running, The Mutual Bank’s Budget Home Loan* has won a Mozo Experts Choice Home Loan Award in the Low Cost Home Loan award category. The win follows the news earlier this month that The Mutual Bank’s Budget Home Loan was named one of the best refinance home loans in the market with a 2024 RateCity Gold Award. The Mozo Experts Choice Awards have been helping consumers make informed purchase decisions for the past 10 years and their extensive award selection process evaluates thousands of products. For the Low Cost Home Loan category the Mozo judges assessed 270 variable rate loans for owner-occupier borrowers, making principal and interest repayments, and identified these as the lowest cost for several different loan-to-value ratios. The Mutual Bank’s CEO, Mark Williams, said the double win for the Budget Home Loan was fantastic news for the Hunter-based bank. “Our commitment to offer competitive products has been recognised with these two awards, and that recognition highlights our commitment to helping people thrive,” he said. “We know the cost-of-living pressure means people are looking to trim their budgets where they can, and our Budget Home Loan has been consistently popular with home buyers looking for a no-frills home loan with a low, variable interest rate.” Mozo Experts Choice Awards Judge Peter Marshall said when it comes to choosing a home loan, key factors that people look for are competitive rates, low fees and a lender they can trust. “The Mutual Bank has demonstrated that it delivers on all three fronts,” he said. “This is the second year running that the Budget Home Loan has taken out a coveted award in the low cost home loan category, and is to be congratulated on this achievement. “These awards were designed to showcase the products in the market that deliver best value and The Mutual Bank is a great example of a small member-owned challenger competing with the big guys.” * The Mozo Experts Choice Low Cost Home Loan award was awarded to The Mutual Bank’s Budget Home Loan Special Variable Rate for owner occupied loans with ≤80% LVR and Principal and Interest repayments. Eligibility and lending criteria, terms, conditions, fees and charges apply and are available on application.  

The Mutual Bank’s Budget Home Loan has been named one of the best refinance home loans in the market. Our Budget Home Loan has been recognised in the 2024 RateCity Gold Awards which celebrate the most competitive financial products in Australia that deliver the best value for customers. The awards are based on RateCity’s market-leading Real Time Ratings™ system which gives every home loan in their database a score out of five, based on cost and flexibility. For the 2024 home loan awards, RateCity rated more than 110 lenders and more than 6700 loan variations. The Mutual Bank’s Budget Home Loan received a rating of 4.38 out of 5, based on factors such as rate, fees, features, and flexibility. The Mutual Bank’s CEO, Mark Williams, said winning a Gold Award for Best Refinance Home Loan in the 2024 RateCity Gold Awards was recognition of the member-owned bank’s commitment to offer competitive products. “Our Budget Home Loan has been consistently popular with home buyers looking for a no-frills home loan with a low, variable interest rate,” he said. “We are thrilled the award has put the spotlight on our commitment to helping people thrive by providing the best value products we can for our Members.” RateCity CEO, Paul Marshall, said that with competition for customers getting tighter, there’s never been a more important time for Australian consumers to have the right tools to make the right financial decision for their circumstances. “Creating a clear and easy way to distinguish between products and the value they offer is vital, especially when someone is making a big decision like choosing a home loan,” Mr Marshall said. “There is no doubt the winners of the RateCity Gold Awards for 2024 offer great products, but with the Real Time Ratings™ system we can know they have demonstrated the best value over time - which means customers can see the Award badge and feel confident they’re getting a good deal.” You can learn more about the RateCity Gold Awards here: https://www.ratecity.com.au/home-loans/awards. Eligibility and lending criteria, terms, conditions, fees and charges apply to all loans and are available on application.