Australian Military Bank has been in the business of helping Australian Defence personnel and their families make the most of their money since 1959. As Australia’s longest serving defence financial institution, the bank knows the unique aspects of life in the armed services. Formerly known as the Australian Defence Credit Union, it changed its name to Australian Military Bank in 2015. The bank is regulated by the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC).
Offering more than just straightforward banking, the bank also helps its members by strengthening the communities they live in. The bank has a lot of community involvements, including its branch network and mobile banking service, sponsorships, sporting partnerships, The Returned & Services League of Australia, and RSL Money.
As a mutual organisation, Australian Military Bank is run for the benefit of its members who are also its shareholders. It has over 50,000 members, manages member funds in excess of $1.3 billion, runs 30 branches at major defence bases in Australia, provides its members with access to its fleet of 'on base' Australian Military Bank ATMs, plus access to their accounts through its mobile banking app, internet banking service and call centre.
From home loans, personal and car loans, credit cards, everyday and savings accounts, term deposits to insurance, the bank offers a great range of low cost products to help you reach your financial goals – whatever they may be. In terms of home loans, it offers DHOAS fixed rate, DHOAS variable rate, fixed rate, variable rate, and investment options.
To apply for a home loan with Australian Military Bank, the first step is to become a member. Although the bank specialises in providing financial solutions to the defence community, anyone can apply for membership. You just need to be 18 years old or over and a citizen or resident of Australia. You also need to have with you your current driver's licence and Medicare card.
When you apply for a home loan, you will need to provide the following:
- Details about your employment and income
- Details of your assets – which means savings, investments or property among other things
- Details of your debts – including credit cards or personal loans
- Personal insurance documents
You can apply for a loan via an online application form, by calling or visiting a lending specialist in person at an Australian Military Bank branch, or by making an appointment with a mobile lender at a preferred time and location.