Welcome to First Option Bank

Member owned

Established in 1965

10,000+ Members

Awesome Rates


Interested in refinancing your home loan with us?



Request A Call Back

You Can Apply Here

ACTPS/APS Offer

  • Interest Rate - 2.15% pa* fixed for 2 years
  • Comparison Rate - 3.79% pa^
  • Loan Type - Principal and Interest
  • Annual Fee - $375
  • Extra Repayments - Yes
  • Free Redraw Facility - Yes
  • Offset Account - Yes

* T&C's

  • ACT Residents Only
  • APS & ACTPS Staff Only
  • Property can be located outside of ACT
  • Applications must be in by 30/09/20
  • Rural properties are excluded
  • Post Fixed - Reverts to variable rate
  • Maximum Term - 30 years
  • Maximum LVR - 80%

Refinancing is an easy process.

Quick chat

Application sent

Other bank advised

New loan starts with us

Are you thinking of buying a new home or investment property?

Owner Occupied


2.59% p.a*.


Fixed for 12 months


  • Interest Rate - 2.59% pa*
  • Comparison Rate - 3.61% pa^
  • Term - 1 year fixed, then variable
  • Interest Type - Principal & Interest
  • Annual Fee - $375
  • Application Fee - $0
  • Extra Repayments - Yes
  • Redraw - Yes
  • Offset - Yes

Request A Call Back

You Can Apply Here

Investment property?


2.69% p.a*.


Fixed for 2 years


  • Interest Rate - 2.69% pa*
  • Comparison Rate - 3.60% pa^
  • Term - 2 year fixed, then variable
  • Principal & Interest and or Interest Only
  • Annual Fee - $0
  • Application Fee - $0
  • Extra Repayments - Yes
  • Redraw - Yes
  • Offset - Yes

Request A Call Back

You Can Apply Here

We'd love to connect and introduce ourselves.

We support over 10 APS staff per week and would love to help you.

Our turn around time is quick, and hopefully we can answer a few more questions for you below.

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Are you Government Guaranteed?

Yes, we're an Authorised Deposit Taking Institution and regulated by APRA.

Why are you helping APS staff?

Members continue to give us ideas and this was a request from an APS staff member in Palmerston, ACT.

Why haven't we heard about you?

We never advertised as a Credit Union and only started to advertise this year.

Do you support ACTPS also?

Yes, the 2.15% home loan special applies to all APS and ACTPS staff.

How big are you?

We're a small bank of 18 people and we keep our costs low so we can pass on the value to our members. 

Are you different to the big banks?

We're customer owned and our profits go back to member value not to shareholders. 

Can I use the 2.15% offer to buy?

Unfortunately, that rate is only for people who have a home loan at another bank and refinance with us.

Do you offer construction loans?

Sure do. We approve the whole loan and you draw down what you need for each stage.

What documentation do I need?

We require the usual such as tax returns, copies of statements etc. 

We're a small bank and you'll love talking to the same people.

Megan says…

We recently needed to re-finance our Mortgage and the service and care that was provided… was beyond our expectations.


 
First Option Bank
5
2019-10-03T13:23:22+10:00
We recently needed to re-finance our Mortgage and the service and care that was provided… was beyond our expectations.

John says…

Two years ago First Option refinanced my investment property in Qld. Saved us a heap – great people to deal with.
First Option Bank
5
2019-09-20T14:25:08+10:00
Two years ago First Option refinanced my investment property in Qld. Saved us a heap – great people to deal with… It’s secure and safe.

Phillippe says…

First Option saved me heaps of money with a better interest rate and no ongoing fees, so I’m better off.
First Option Bank
5
2019-10-03T12:11:18+10:00
First Option saved me heaps of money with a better interest rate and no ongoing fees, so I’m better off.

Steve and Fiona say…

They helped us sort out our finances and refinance our home loan and now used them to get our first investment property. Better than the big banks!
First Option Bank
5
2019-10-03T12:13:49+10:00
They helped us sort out our finances and refinance our home loan. First Option helped us get a loan for our first investment property.

Alan says…

They helped me get a home loan to buy my first apartment in Sydney – have appreciated their support, always available for advice.

 
First Option Bank
5
2019-10-03T12:15:22+10:00
They helped me get a home loan to buy my first apartment in Sydney – have appreciated their support, always available for advice.

Michael says…

It’s great having my own personal banker. First Option organised to refinance my home loan, came to the Agency and did all the paperwork. It was so easy.
First Option Bank
5
2019-10-03T12:16:35+10:00
First Option organised to refinance my home loan. Came to the Agency and did all the paperwork. It was so easy.

Anthony says…

Everything went very smoothly with our loan application… great to see nothing has changed in terms of friendly, prompt and extremely helpful service.
First Option Bank
5
2019-10-03T13:35:05+10:00
Everything went very smoothly with our loan application… great to see nothing has changed in terms of friendly, prompt and extremely helpful service.

Les says…

I applied for a loan with First Option near the end of the financial year, which is a busy time for everyone. Despite this, my application was handled promptly and questions answered instantly.
First Option Bank
5
2019-10-03T13:36:24+10:00
My application was handled promptly and questions answered instantly by friendly and professional staff.

Carrie says…

My son Sam and I recently became members and had a loan funded through the team. It is with great pleasure that I now provide this positive feedback and very happy with services provided.

First Option Bank
5
2019-10-03T13:37:21+10:00
My son Sam and I recently became members of the Credit Union and had a loan funded. We are very happy with services provided.

Monish says…

I did all my research before engaging in the idea of an investment property and I found that First Option had the best and most flexible mortgage solution for my needs.

First Option Bank
5
2019-10-03T13:50:05+10:00
I did all my research before engaging in the idea of an investment property and I found that First Option had the best and most flexible mortgage solution for my needs.

Billy Jay says…

First Option refinanced my home loan and help me set up my monthly budget. Now I can relax knowing that all of my bills are catered for.

First Option Bank
5
2019-10-03T15:13:03+10:00
First Option arranged to refinance my home loan and set up a budget for me. I can now knock off after a nightshift and go straight to bed knowing there’s nothing I have to do about bills or loans.

Michael says…

I joined when they were TAB Credit Union and now First Option Bank. I’ve had four loans with them in the past three years and recommend them to anyone.

First Option Bank
5
2019-10-03T16:00:37+10:00
I’ve had two equipment loans and two car loans in the past three years. It’s been so easy. The credit union is where all Agents should do their banking.
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First Option Bank