Media Centre
31 July 2011
ME Bank wins Gold at Mortgage of the Year Awards
ME Bank has been awarded a Gold Medal for its new home loan package at the 2011 Your Mortgage Magazine's Mortgage of the Year Awards.
ME Bank Group Executive, Brands, Products and Distribution, Ian Hendey, said the award was recognition that the Member Package, launched less than four months ago, was the best value for customers over the life of their loan not just the first 12 months.
"Winning the Gold Medal demonstrates that ME Bank plans and acts in our customers' best interests, with simple and transparent products that benefit members of industry super funds and unions over the long term.
"We are not about luring new customers with superficially attractive introductory rates or deals that over time evaporate and leave the customer behind," he said.
"Since its launch, we have received an amazing response from customers who have discovered the value for money opportunities the Member Package gives them," Mr. Hendey added.
ME Bank's home loan package, includes a 100% Offset facility and fee-free MasterCard, it is only available to members of participating industry super funds and unions and features a low variable interest rate of 7.09% across all loan sizes, no account keeping fees, split fees, redraw fees or top up fees - all for an annual fee of $395. The combined features could potentially save customers thousands of dollars and cut years off their home loans.
"The great Australian dream has become increasingly difficult to achieve for working Australians in a volatile and expensive housing market. At ME Bank, it's in our DNA to listen to our customers' needs. We created the home loan package from ME Bank customer feedback for a fully featured home loan package that was simple, fair and transparent for the entire length of their loan, not just the first 12 months. The Your Mortgage Award is evidence we're on the right track," said Mr. Hendey.
Medal winners of the Mortgage of the Year award were determined using the Your Mortgage team's scoring system. Loans that qualified for the awards were ranked according to their comparison rate and the points awarded for features, such as redraw and portability.
Extra points were also awarded for the product's transparency of fees and conditions, as well as the product's accessibility.
ME Bank is the only bank in Australia which is 100 percent owned by Australia's super industry funds. For more information on ME Bank - a genuine banking alternative - please visit www.mebank.com.au.
For more information, please contact:
Burson-Marsteller
Peri Muddle, Senior Associate
0421 685 285
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