Established In 1965 to support workers within the public sector
Member Owned
Industry Specialists
Community Focussed
Great Rates
Our why is to solely serve the staff, friends and family that work within the below sectors.
Public Sector
Defence
Health & Services
Gaming & Leisure
Police & Emergency
Legal Services
Historically, we commenced as a Credit Union in 1965 & became a bank in 2019
Founded - 1965
As TAB Credit Union
Merger - 2005
With Flying Horse Credit Union
Name Change - 2005
To First Option Credit Union
Name Change - 2019
To First Option Bank
We're different to the big 4!
Our aim is to minimise fees and pass on the value to our community of members.
Frequently asked questions
Are your deposits guaranteed?
Yes, all deposit products up to $250K is protected by the Australian Government’s Deposit Guarantee.
Are you regulated?
Yes, we're an Authorised Deposit Taking Institution and regulated by APRA.
What phone number do we call?
For new loans, please call 1800 362 265 and for any account related support, please call 1300 855 675
Do you offer bank accounts?
We offer a range of products and services, similar to what you would expect from any big bank.
Is a member bank different?
We are not like the larger banks that aim to increase their share price. We invest our profit back into our members.
Are you the cheapest?
Every month, we assess our deposit and loan rates and see how much value we can pass on to members.
Do you have Branches?
We don't have branches but we do have staff in Melbourne, Sydney & Canberra if you prefer to meet up.
How do we protect your money?
Our advanced security systems operate 24/7, monitoring card and other transactions and general account activity.
Can we chat after hours?
We work around the availability of our members and our lending team is available up until 6.30pm.
We're here for our community of members.
We'd love to connect and introduce ourselves.