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Slash Your Spending to Save

Experienced financial planner, James Gerrard, gives us his top tips on household budgeting.  Manage your cash better  Money left over each month which is not needed for an investment plan should be transferred from your everyday bank account into a bonus interest savings account so that it accrues a higher level of interest. This is particularly useful if you will still need to access the money again in the near future, such as to put together a deposit on a …

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Some good news. 

As you have probably seen in the media over the past week, the Board of the Reserve Bank announced their decision on 7 February 2023 to increase Australia’s interest rates by another 0.25%; an increase almost immediately passed on to customers by the big banks.  But the Board of First Option Bank has decided NOT to increase our lending rates.  We know that many of our members are adapting to higher prices, however with the new financial squeeze and as …

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In need of a holiday?

Make an international transaction using your First Option account between 15 December 2022 – 27 January 2023 for a chance to win a $5000 travel voucher*. There are three vouchers up for grabs!  *Conditions apply.

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New banking apps coming soon

Our next-generation mobile and desktop internet banking apps are now in development and we expect to roll them out to members early next year. They look great, there’s good new functionalities and features and we can’t wait to get them onto our own devices and test them fully, soon!

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New Visa card designs

Our brand new Visa debit and credit cards are now in stock, and even if you haven’t yet got a new-look card… you will see the updated card designs in Apple and Google Wallet apps.

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Making Your House A Home

Interior stylist Emma Blomfield provides her top five tips to make your house feel like a home without breaking the bank. Careful planning allows you to add character and cosiness to your space and keeps you on track budget wise.  1 – REFRESH YOUR WALL PAINT  If you’re happy with the bones of your home but you’ve grown tired of your colour scheme think about a fresh coat of paint for your walls, trims and doors. You’ll be surprised how …

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RBA Rate Rises

The Reserve Bank of Australia (RBA) has increased Australia’s official cash rate again on 1 November 2022 to 2.85%, an increase of 0.25% (25 basis points). First Option Bank will now review the interest rates for all our loan, deposit and savings accounts over the next few weeks. Any changes will be updated in our interest rates schedules published on the First Option website under Rates & Fees. Read the full statement by the Governor of the Reserve Bank on …

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2022 AGM

The Annual General Meeting of First Option Bank Ltd will be held on Tuesday 22 November 2022 at 12:00 pm at First Option Bank, Maggie May Room on Level 15/60 Station Street East Parramatta NSW 2150. Members are invited to attend but must register beforehand by emailling [email protected] or calling our Member Services Team. Click to read the official notice of the 2022 Annual General Meeting, including the agenda. \

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The High Life

This overnight Spring hike through Victoria’s alpine region finishes with a glass of Tempranillo and slow cooked Moroccan lamb. The sky is darkly bruised, the breeze stiff. Without a guide, we forge along a faint track on the roof of Victoria in Australia’s southern alpine region, completely encased by mountains. The two-way radio strapped to my pack crackles briefly and, aside from the odd marker pole reassuring us we’re on track, there’s no sign of civilisation. I think to myself, …

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