Rate Changes

With Australia currently experiencing high inflation and low unemployment, the past 3 months have seen some of the most aggressive RBA rate increases on record. After each new announcement, we have had to review the rates on our savings and lending products. These are difficult decisions, which we know have a significant impact on our home loan borrowers.

In reviewing our rates, we try to be as fair as possible to all our members, and place focus on ensuring our products remain highly competitive in the market to maximise member value.

We were pleased to increase rates on our savings products, understanding how difficult the low-rate environment may have been on those that rely on
their interest income.

MOVE Bank remains committed to offering members great value across our lending, investment and deposit product ranges.

Staff Development Day

We recently held our annual staff development day which was a fantastic opportunity to bring our entire team together to discuss opportunities on continuing to improve how we succeed in our roles, with an ever present focus on our member experience. I am always so proud and humbled by the amazing team we have and their passion for you, our members. We walked away from our day with a clear plan for the year ahead and enthusiasm for delivering new opportunities.

Personal Lender of the Year

I am delighted to share that MOVE Bank has once again been awarded Money Magazine’s Customer Owned Personal Lender of the Year. This is the third year running MOVE has won this award and highlights the excellent value our lending products offer to our members.

Annual Member Survey

Across September we encouraged our members to have their say on the year ahead through our Annual Member Survey. As a member-focused bank, we value this feedback to help us understand what our members want. Thank you to all our members that have completed the survey, your feedback is critical in shaping the future of MOVE Bank. Members have already let us know that they want increased access to our contact center. From this feedback, I am happy to share that we have worked with our team and will increase our hours of availability from 4 October 2022.

Annual General Meeting

Our annual general meeting will take place at 6pm Thursday 17 November, 2022 in the Brisbane CBD. All members are invited to attend. Further information regarding the AGM is later in this edition of MOVE Life.

Therese Turner, CEO