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ISCOVER
Staff Reporter
One aggregation group has strengthened its lending panel, adding ME Bank to the list.
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Earlier today, Choice Aggregation Services announced it would add ME Bank to its panel in a bid to enhance its broker proposition.
According to Choice’s chief executive officer Stephen Moore, the addition of ME Bank to Choice’s lender panel will provide its members and their clients with an alternative to the major banks' products.
“Since its inception in 1994, ME Bank has worked hard to deliver Australians low cost, straightforward and transparent banking products,” Mr Moore said.
“To this day, ME Bank continues to offer very competitive and compelling borrowing options and we are proud to announce our new partnership with them.
“ME Bank’s flexible and competitively priced loan products will bode well with the 5 million-plus members of eligible super funds and unions in search of home loan options.
“Their values are demonstrated in their actions. ME Bank’s standard variable home loan rate for members of industry super funds and unions, for example, has been lower than those of the major banks for every month of every year since it became a bank in 2001.
“Given the lack of certainty in the current economic climate, Australian borrowers have become even more discerning about their home loan rates, features and the service associated with it.”
Mr Moore said ME Bank will offer two main product suites via Choice brokers: the Member Package, which can be taken with either a 100 per cent offset facility or an interest only option for investors, and the Super Member Home Loans, a fully featured range of low cost home loans.
Stewart Saunders, ME Bank national manager brokers, said the bank’s new partnership with Choice was part of its focused approach to forging closer ties with the third party sector and expanding its distribution footprint.
“Our decision to partner with Choice marks an important milestone for ME Bank and we look forward to providing Choice members and their clients with a genuine borrowing alternative,” Mr Saunders said.
“Our fairer ethos equally applies to brokers and our deliberate decision to give all brokers equal access to BDMs and credit teams, regardless of volumes, and to uniformly provide quick decision times, is striking a real chord with the third party sector.”
