Move to Quarterly Account Statements

First Option wishes to advise that most Member Statements will be moving from monthly frequency to quarterly (i.e. every 3 months).


This change will occur after the 30 June 2020 statements are issued. Your next statement will be dated 30 September 2020, followed by 31 December 2020.


  • The widespread use of online banking allows First Option members to check their transactions 24×7.
  • It is better for the environment by reducing the amount of paper we use.
  • Cost savings achieved can be better spent delivering improved member benefits


  • If you have an Overdraft attached to a Savings Account (e.g. S1, S3, and S4), you will continue to receive a monthly Account statement.
  • First Option Credit Card holders will continue to receive monthly Credit Card statements

What should I do now?

  • Install the First Option Banking App. This allows you to keep track of your transactions 24×7
  • Set up Alerts. This is a free service that sends you a notification when something happens on your accounts, e.g. when your pay comes in, or when a withdrawal in made.
  • For those still receiving paper statements, switch over to online statements. They are securely stored within Internet Banking and are more secure than paper in a letterbox.
  • If you wish to analyse your accounts monthly, use Internet Banking to download transactions to a CSV file. This is a generic format for spreadsheets such as Excel.
  • If you wish to continue to receive monthly account statements, please contact our Member Services team.

If you have any questions about this change, contact our Member Service team.