News

RBA drops official cash rate

Yesterday the RBA dropped the official cash rate by 25bps to 1.25%. Australian Military Bank will be reviewing current market conditions and will advise our members of any changes to our rates.

Interest rate change to Capital Guaranteed Super and Capital Guaranteed Pension products

All interest rate tiers associated to both Capital Guaranteed Super and Capital Guaranteed Pension products will be reduced by 0.25%, effective 1 May 2019.

This reduction comes off the back of ongoing costs in an extremely competitive landscape. Nevertheless, interest rates associated with these products remains extremely competitive in comparison to similar products in the marketplace.

For further details, please visit the individual product pages.

Capital Guaranteed Super
Capital Guaranteed Pension

Australian Military Bank celebrates Harmony Week

Australian Military Bank takes pride in celebrating our diverse and inclusive workforce. We welcome the many different perspectives and cultures that our staff bring to the Bank and promote 'harmony in diversity' on a daily basis. #harmonyweek

International Women's Day 2019

Happy International Women's Day! Australian Military Bank is proud to be such a diverse workplace which supports women and strives for #BalanceforBetter. #IWD2019

LAVARACK BRANCH REOPENED

Members, please note, our Lavarack Branch has reopened following a brief closure due to the extreme weather events occurring in North Queensland.

We'd like to reiterate that our thoughts are with our members, the Defence Community and the wider Townsville community who are currently impacted with the devastating floods. Big call out to all the Defence personnel and Emergency Services who are working tirelessly to ensure all are safe and sound.

 

Mobile Banking Improvements

Great news! Pending transactions are now available in Mobile Banking.

Pending transactions are listed on accounts when you 'tap and go' or transact online; this feature was live in Internet Banking and we’ve now included this feature via Mobile Banking.

This is great news as it gives more visibility to all transactional spend; all in the palm of your hand.

Once you open the transaction listing of a specific account in Mobile Banking, if there are pending transactions on the account it will note the transaction under the relevant date with the word ‘Pending’ under the transaction amount.

Member Contact Centre Operating Hours (Holiday Period)

Please be advised our Member Contact Centre will be open under adjusted operating hours this holiday period. Opening hours (AESDT) are as follows:

• Monday 24 December, 2018 – 8am-5pm
• Tuesday 25 December, 2018 – CLOSED
• Wednesday 26 December, 2018 – CLOSED
• Thursday 27 December, 2018 – 8am-6pm
• Friday 28 December, 2018 – 8am-6pm
• Saturday 29 December, 2018 – 8am-12 noon
• Sunday 30 December, 2018 – CLOSED
• Monday 31 December, 2018 – 8am-5pm
• Tuesday 1 January, 2019 – CLOSED
• Wednesday 2 January, 2019 – 8am-6pm

Internet and Mobile Banking Improvements

Great news! You can now change your account names in Internet and Mobile Banking. For example, this means you can simply edit the name of your Savings Account to whatever you like, ie holiday account, salary account, rental account, secret stash account etc….

• For Internet Banking, simply select the product from your home screen and an edit icon will appear against the current account name.
• Similarly, in Mobile Banking you can do this once you have selected the specific account from the accounts tile.

In addition, for members with a loan with the Bank, you can now find your ‘advance amount’ in Internet and Mobile Banking within each product page.

• For Internet Banking, this will appear in the right hand column for all loan products.
• For Mobile Banking, this will appear in your account details section (red icon) for each loan product held.

More updates will be rolled out regarding Internet and Mobile Banking over the coming months, so stay tuned.

What you need to know about buy now pay later services

With Christmas around the corner, ASIC has released some timely tips and important information about ‘buy now, pay later services’. Buy now pay later payment services allow you to delay payment or pay by instalments (often fortnightly) over a period of time. To review, click here. (MONEYSMART Website)

2018 Australian Military Bank AGM

Australian Military Bank's 59th Annual General Meeting was held Thursday 29 November in Sydney with approximately 60 members and visitors in attendance.

The Bank concluded the financial year in a strong position with an increase of net profit after tax of 2.8% ($5.2m) and places the bank favourably to continue to support our members by investing in new services and future growth. Due to the ongoing support of members our total assets grew by over 7%.

We would like to thank all our members who attended and congratulate John Brooks (Chairman), Michael Crane (Director) and Jonathan Sadleir (Director) on being elected by the members. We look forward to their stewardship in shaping a better bank for the Defence Community.