Beyond Bank is one of the largest customer-owned banks in Australia. Formerly known as Community CPS Australia – not coincidentally, one of the country’s largest credit unions – it became a bank in 2013, and offers a wide range of financial products and services to more than 200,000 members and their families Australia wide.
Because it is a member-owned bank, there are no external shareholders in the company, meaning that any surplus profits are redirected into the members through lower interest rates and better products and services.
Most of Beyond Bank's branches are located in NSW and the ACT.
In addition to loans, it offers personal and business banking services, as well as financial planning services.
It has previously won Money magazine’s Best Transactor Credit Card and received the 2017 Australian Retail Banking Award for being the Best Financial Institution in Corporate Social Responsibility.
Additionally, Beyond Bank was the first Australian bank to become B-Corp certified, which signifies their dedication to being a force for good in the greater Australian community. As their website details, this means they "have met the highest standards of overall social and environmental performance, transparency and accountability."
To highlight this, Beyond Bank:
- Invests over 9% of net profit after tax in partnerships and programs
- Gives staff two paid days per year to volunteer in the community
- Supports flexible working environment for employees
To apply for a home loan with Beyond Bank, you can contact the bank in person at a local branch, over the phone, or online. You can also use a mortgage broker to help streamline the process and decide which product is the best one for you.
As always, it is best to be prepared before you apply for a mortgage, so double-check that you have all the necessary information ready and available before you apply.
Here are some important things to know before applying for a loan:
- You will need to be at least 18 years of age to apply for a home loan
- You will need to be able to provide evidence of your income when you apply, so make sure you hang on to your tax returns, pay slips, and other financial details
- Alongside your income, Beyond Bank, just like any other lender, will want to examine your assets and debts
- You will also need to be able to prove your identity – through a passport, a state ID, etc.
- Any information about the property you are looking to buy (if you already found one that strikes your fancy)