Australian credit union launches online bank

Australian credit union launches online bank

Easy Street Financial Services, a standalone subsidiary of Australia's Community First Credit Union, has launched a new online banking service which promises consumers high savings rates and low fees.

The stand-alone Internet operation is currently offering two online products, the EasySavings Account with a high interest rate of 5.0% at call, no fixed term and no fees, and the EasyHome home loan product where the annual fee will be waived for the first year. Customers can apply online and request advice on the progress of their application.

Further products are in the pipeline, including a planned EasyBuz business package to enable small to medium businesses to conduct basic business transactions online.

Established and managed by Australian member-owned Community First Credit Union, Easy Street claims to be able to deliver the customer service and consumer-driven products that many financial service providers are unable to offer.

Kerry Ann McMorrow, Easy Street, comments: "The difference we make is that we have real relationships with members rather than distant relationships with customers. We are now taking this difference and our expertise online - where consumers are going - with the launch of an additional online brand."

The Easy Street Web site user interface has been especially designed for easy access and easy navigation, says McMorrow, allowing busy people to make their transactions quickly and securely without leaving the Web site confused or frustrated.

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