Members Equity Savings Accounts

Members Equity Bank was created in 1999 to offer low cost home loans to Australian workers, and was backed by the Australian Council of Trade Unions. Of course the initiative was a popular one and ME Bank still offers the Super Member Home Loans program to provide millions of Australians with low cost home loans. In 2001 ME Bank received its Australian banking license and the commitment and dedication shown to all Australians has carried through in ME’s simple, targeted and effective savings and transaction accounts.

Savings Account	Account Details	Intro Rate p.a.	Variable Rate p.a.	Intro Period p.a.	Fees	Min Balance and Min Deposit
Members Equity Savings Account	4.85% p.a. high ongoing rate	4.85%	4.85%	-	FREE	$0

ME Bank continues its commitment to helping Australians own their own homes with their First Home Saver Account.

Benefits of the First Home Saver Account:

• Australians saving for their first home can earn 6.25% interest on every dollar they contribute to their First Home Saver Account
• There are no account keeping fees and all contributions on your part are tax free. Your interest earned will be taxed at 15%
• You will receive a boost from the Australian Government of 17% of your first $5,000 each financial year. This means you could be earning up to an extra $850 each year towards your own home
• You must save at least $1,000 each year to be eligible for the government boost
• There is no minimum balance required for you to earn the ME interest rate of 6.25% on your savings
• When you have held your account for at least four financial years, you can withdraw your funds tax free
• You must be saving for, and must use the funds for, your first home, which you intend to live in
• ME’s account won the 2009 Money Magazine Best of the Best Award for Best First Home Saver Account

With government grants for first home owners winding right back at the end of 2009, it is the perfect time for first home buyers to take control of their own house funds. Rather than waiting for another hand out to come around, why not be proactive about your savings and take advantage of an interest rate unrivalled on any other online savings account.

Choose the ME Online Savings Account

If you are not a first home buyer but are still looking to save for a new home, an extension to your existing home or even for a special holiday or a new car, then an online high interest savings account is going to help you meet those goals.

How the Member’s Equity online savings account can help you:

• You will earn a high 4.85% interest on your balances, calculated daily. This means that even if you can just make small contributions each day or each week, at the end of the month your interest will have been compounding and you will have a return in your account to get you closer to your savings goal
• No rules or restrictions to the account or how you earn interest. The ME online savings account does not attract any monthly or transaction fees and does not require a minimum opening or ongoing balance for you to earn the 4.50% interest rate. You can also withdraw your funds at any time, when you reach your savings goal, or you need a little extra cash to cover an emergency expense. With such freedom and flexibility there are fewer excuses to get in the way of your savings
• Phone, online and linked account access to your high interest savings account. You don’t need to be an existing ME customer to use the online savings account. You can link to any existing savings or transaction account and follow your progress online. If you have questions about your account, ME’s phone support can help

Choose a High Interest Transaction Account

High interest and savings do not normally go hand in hand with a transaction account, however, ME have created the InterestME account which offers 3.50% on balances over $3,000, and has all of the everyday banking access you need.

How to use the InterestME account:

• On balances up to $3,000 you will earn 0.25% interest
• On balances over $3,000 you can earn 3.50% interest
• If your salary is deposited into your Interest ME account each month, it can earn interest for you while you use a credit card to make purchases and pay bills. At the end of the month you can transfer what you need of your salary to pay off your credit card and reinvest your remaining salary and the month’s interest with ME
• InterestME can also link to a high interest savings account to allow you to use the everyday banking features. These include 15 free EFTPOS transactions a month, free direct debits and credits, ATM and EFTPOS access, free phone and internet banking access, and the option to add cheque facilities

Whether you are buying or building, saving or spending, the ME savings and transaction accounts can work individually or together to help you meet your savings goals and keep your finances organised. If you choose to open an account to help you save for your first home, a high interest savings account for your secondary savings targets and an everyday account with Interest-ing rewards, you can follow our secure link to the ME website and apply online now.

• Members Equity high interest Savings Account