Some car dealers on TV have offered 0%pa or 1%pa comparison rates, which sounds too good to be true. But we all know that nothing is free, so what’s the catch? You may be surprised to learn that buying a new car with dealer finance could actually cost you more than purchasing the identical car with a standard car loan from your bank. The table below is a simple example that compares (a) a car bought at full price with …

Do you guys remember what it was like when Video Recorders came out? Was it just me, or did you guys also get called up by your grandparents and asked to get it connected to the TV? It used to drive me crazy, but on reflection it was a skill that others simply didn’t have. Let me tell you about another skill that your grandparents may not have and that is the ability to use internet banking. You all may …

With so many options available, many people turn to mortgage brokers to help them find the best home loan deal, but are they really working in your best interests? In theory, it sounds like a good idea, but let’s share our learnings with you. Here are our top five questions to ask before you go ahead. How many lenders do you deal with? We recommend asking this question as many brokers may only have a close relationship with a specific …

Recently, Tabcorp advised First Option that they require the space in which our Granville office is currently located.  We requested an alternative on-site location, but were unable to be accommodated. Sadly, we have no choice but to close the Granville office. We’re not leaving you The Granville office will close on 31 October 2019. However, we’re currently exploring new locations nearby, within the Parramatta region, and will advise of our new details soon. Until then, our staff will continue to …

We’re growing so fast at First Option that change is required to maintain our high level of member service.  We’re also looking to hire more staff to keep up with the demand. To accommodate this growth, we have implemented a call-back option on the phone. Members have the option to leave their name, a short message and a contact number, instead of waiting on hold. Our Member Service team will return your call within three (3) business hours. Any messages …

During October 2019, First Option partnered with the Australian Government to support Stay Smart Online Week.  Our goal is to raise awareness to reverse the threat of cybercrime. Every day cyber criminals steal the online identities of people just like you. It doesn’t matter if you’re young or old, whether you are male or female, or where you live, cybercriminals look to take advantage of people who make it easy for them to steal from. The statistics tell us that …

Two First Option products have received 5-star ratings from Canstar in October 2019. As a member-owned bank, First Option is able to provide products that put people before profits. We always strive to give back to members, in the form of competitive interest rates, transaction fee waivers for supportive members and no sneaky loan fees for making extra repayments. To make sure that our products are competitive First Option subscribes to Canstar. They compare thousands of products across Australia, based …