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Endeavour Mutual Bank began operations in 1953, and it now has over 18,000 members and assets in excess of $250 million. This credit union has three branches in the Sydney metropolitan area, and one in Newcastle.
Who is Endeavour Mutual Bank?
Endeavour Mutual Bank offers everyday access accounts and savings accounts to suit different needs and you can also open a term deposit with this credit union. Its other offerings include home loans, car loans, personal loans, insurance solutions and financial planning advice. Its ‘Regret Nothing’ initiative aims to help young Australians become financially aware.
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What transaction accounts are offered by Endeavour Mutual Bank
- Transaction Account
This everyday transaction account lets you earn up to $0 p.a. interest, and it does not charge any account keeping fees. You can access funds in your account via branch banking, Bank@Post, phone banking, Internet banking, BPAY, direct debits and a debit card to use in-store or online.
What high interest savings accounts are offered by Endeavour Mutual Bank?
- Christmas Club Account
Use this account to save for Christmas and earn up to 0.05% p.a. interest. You can set up automatic credits from your payroll or you can transfer funds into this account using online and phone banking. You can make deposits at branches as well. Access to funds comes through branch banking, online banking, phone banking and BPAY.
- Direct Saver Account
This savings account offers a competitive interest rate while also allowing easy, unrestricted access to your funds via Internet or Phone banking. Unlike the Emoney Account, you can access your funds and still earn interest on your balance.
- Emoney Account
You don’t have to pay any monthly fees to maintain this account, and you can earn up to 0.05% interest. You can use this account to set up direct credits and debits, and you can access funds in the account using phone banking, online banking and BPAY.
- Young Saver Account
This account is a high interest savings account for 13 to 17 year olds which offers a competitive, tiered interest rate on your balance with no ongoing deposit conditions to meet. This account is a great way to teach children good savings habits, and it charges no monthly account keeping fees.Back to top
What term deposits are offered by Endeavour Mutual Bank?
- Term Investment
You can open an Endeavour Mutual Bank term investment with as little as $1,000. The term can extend up to two years, and the interest you earn depends on the time period as well as the amount you invest. At maturity, you can get the term deposit to reinvest for another term, you can add extra funds or you can transfer the money to your Endeavour Mutual Bank everyday or savings account.Back to top
What are the pros and cons of banking with Endeavour Mutual Bank?
- Earn interest on everyday accounts. Not many banking institutions offer interest with their everyday transaction accounts, but when you open an Endeavour Mutual Bank everyday account you stand to earn interest.
- Internet banking. You get free access to Endeavour Mutual Bank’s online banking platform. You can use it to check and download transaction history, to activate new cards, to pay bills using BPAY, and to transfer funds or set to periodical payments.
- Scratch your back program. If you wish to raise money for your club you can join the scratch your back program. Through this program, any member of your club can refer new members to Endeavour Mutual Bank, and your club stands to receive a cash reward for earn new membership as well as every new home loan, personal loan, credit card and term investment.
- Limited number of branches. For people who live outside the Sydney Metropolitan area or Newcastle, the lack of branches can work as a deterrent.
How do I apply for a Endeavour Mutual Bank savings account?
You can open an Endeavour Mutual Bank account by visiting any branch and you can also apply online. Make sure you meet the following eligibility criteria:
- You meet account specific age requirements (if applicable)
- You have no problems with given minimum account opening balance requirements (if applicable)
- You have an Australian residential address
To complete account opening formalities, you’ll have to provide the following information.
- Your name, mailing address, phone number and email address
- Your date of birth along with details from a valid form of identification such as your driver’s license or passport
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