A word from your board
Director - John Baistow
I am pleased to contribute to this first edition of Interact as bankmecu, Australia’s first customer owned bank. We thank all customers for their positive feedback following our 1 September launch and have welcomed the opportunity to address the questions we have received from you.
We continue to rebrand our materials and Service Centres with this task due to be completed by 1 December. We have been careful to minimise waste as a result of our rebrand by carefully managing stock, reusing or recycling.
Integrated Annual Report
With the completion of the financial year bankmecu has launched its first integrated Annual Report, which combines the statutory financial accounts with our social and environmental performance. The new report further enhances our reputation as one of the global leaders in sustainability reporting, winning an Australasian Reporting Awards Best Sustainability Report for the second time.
The new report is now available online. Hard copies of the summary report are also available from bankmecu Service Centres or by calling 132 888.
Some key highlights of the report include:
- Costs to income down to 56.69% from 66.13%
- Asset growth of 7.85%
- Customer satisfaction 94%
- 8,732 tonnes of C02 offset for cars financed
- bankmecu achieved carbon neutrality
- Customers were collectively $31m better off doing business with bankmecu than the 4 major banks
These highlights summarise our responsible approach to banking in generating positive returns for customers, their communities and environment.
New improvements for bankmecu customers
Over the next few months, we look forward to launching a new mobile website to provide a better online banking experience for our customers who frequently access bankmecu from their smartphone or tablet. We’ll also be launching a new area on our website clearly explaining what happens with your money at bankmecu to exactly demonstrate what the difference in being a customer owned bank means.
For customers in the market for home loans, we have launched several new packages which for an annual fee offer lower rates, unlimited customer rewards for more free transactions and insurance discounts. These benefits are in addition to the standard home loan features available across all loans such as a repayment pause, unlimited free redraw, mortgage offset and free additional repayments.
The Board and management continue to look for ways to enhance the value customer and owner of bankmecu.