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Service Interruptions

There may be temporary interruptions to internet banking and mobile banking apps between 4am and 6am on Wednesday 1st September as we will be conducting end-of-month system updates. We apologise in advance for any inconvenience.

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Every Home Needs a Garden

So you are looking to buy a home or maybe have just purchased one? They often come with a garden… but sometimes that’s up to you. Have a chat If you are the proud owner of a garden but haven’t a clue what is there or how to look after it, then I suggest you invest in an hour’s time chatting with a local horticulturalist. They will list what is in your garden and give you some idea of how …

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Meet Diana

How long have you been with First Option Bank? I have worked at First Option for 19 years! Why did you originally join? I had worked for a number of credit unions and was working for Cuscal* plus doing some extra casual work for First Option. My supervisor asked me if I would be interested in a full-time role with First Option and I jumped at the chance. What changes have you seen in the banking industry? I have seen …

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Changes to deposit services

From 1 October 2021 the National Australia Bank (nab) over-the-counter deposit services will no longer be available for First Option accounts. Instead, you will be able to use Bank@Post services at Australia Post locations across the country to deposit cash or cheques.  All you need is a Visa Debit Card – please contact us if you would like to order one. As a result of this change we will also be retiring all nab deposit books on 1 October 2021. …

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Australia’s financial services market grows 13.2% during 2020/21 financial year

New data from Roy Morgan shows Australia’s total market for financial services increased by a record $1.27 trillion during the 2020/21 financial year to reach a total of almost $10.9 trillion in June 2021, an increase of 13.2%. The huge increase was greater than the combined increases over the preceding three years put together ($1.23 trillion from June 2017 to June 2020). The growth in the market for financial services was across all four main categories, all of which were up …

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Buy Now, Pay Later

“No interest? Never, ever…?” Really? Businesses like AfterPay, Zip Pay, Humm etc. are profitable, very profitable in fact. You only need do a quick Google search to see stories about astronomical growth and extraordinary profits. Money like they are making must come from somewhere and if you’re using their services… you can be pretty sure some of it is coming from you. Statistics from Findex1 suggest that less than twenty percent of 16 – 25-year-old Australians have a credit card. …

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What is PayID?

PayID is a simple system enabling you to use an email address or phone number as a ‘shortcut’ to your existing bank accounts. Once you set-up a PayID, instead of giving your banking details to someone to transfer money you can just give them your chosen contact details as a shortcut to that account. A PayID can be an email address, a registered ABN, a mobile or landline phone number which is a lot easier to remember rather than giving …

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Renovating Tips for First-Home Buyers

Shared from ‘It’s My Home‘ magazine Carlene Duffy from The Block Glasshouse shares her top tips for first home buyers looking to renovate. Educate yourself in order to avoid being swept up in passing trends. Learn what is current in finishes and furnishings, and how to differentiate fads. An experienced designer can usually sift through the trends to determine which styles will have longevity, and which will die a quick death. It is this knowledge that will save you money …

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Call for Nominations

Nominations are called for candidates for the position of director of First Option Bank to fill a vacancy on the Board. Director Dharmendra Kumar is required to retire in accordance with First Option Bank’s Constitution. Director Dharmendra Kumar offers himself for re-election. Nominations close on Monday 30th August 2021. The position will be effective from the end of the 2021 AGM. Copies of nomination form sand further information are available from the Secretary of First Option Bank on telephone 1300 …

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