A little bit in front
Lendererer - Episode 5
Interest rate is current at 26 March 2012 and is subject to change.
Breathererer - Episode 4
Democracy - Episode 3
Home James - Episode 2
Buying a Bank - Episode 1
QT Mutual Bank (QTMB) formerly Queensland Teachers’ Credit Union launches another Australian first with a 3 month ‘breathererer’ on its mortgage breaker home loan to coincide with the unveiling of its new branding.
The 3 month ‘breathererer’ gives Australians a 3 month break on repayments on their home loan. This is based on the understanding that everyone needs a break at some point – and this could be just what consumers need to buy the kids’ Christmas presents or take the family on a well-deserved holiday.
CEO Mike Murphy said since becoming a mutual bank on Saturday 1st October, QTMB is revolutionising the banking marketplace and setting a new benchmark through Australian firsts, innovative products and superior customer service.
“We’ve always made business decisions based on what our members have to say and they have been saying loud and clear that they want a better home loan deal – our ‘breathererer’ home loan feature offers just that. It really does take into account the financial pressure consumers are dealing with right now”.
After weeks of teasing the public with its cryptic advertising campaign, QT Mutual Bank are proud to come clean and demonstrate how they are making changes not only to their brand, but to the banking industry in Queensland.
The teaser campaign has seen over 3000 people view the facebook clevererer fan page (http://www.facebook.com/clevererer), over 1000 people have liked the page and there have been over 20,000 post views, all intrigued by exactly who the culprit was behind the cryptic adverts over the recent weeks.
Mr Murphy said unlike conventional banks, mutual banks are owned by and exist for their members.
“QTMB is Queensland’s first mutual bank under the federal Government’s recent banking reforms, which means that we’re owned 100% by our members. This allows us to reinvest the majority of profits made back into innovative systems and products so that our members can benefit from better services and banking opportunities”.
“By working together with our members we are able to provide innovative product solutions, not just a one size fits all approach”.
“Together with the ‘breathererer’ home loan option, we’ll be launching a number of innovative products in October, some specifically geared to the youth market”.
These new products are in addition to a number of other Australian firsts by QTMB – in 1975 it was the first credit union to install its own computer, in 1977 it was the first financial institution to install a 24 hour ATM and in 2009 it was the first financial institution to introduce the Rate Tracker Home Loan. The rate tracker home loan tracks the RBA official cash rate so that consumers can be sure that their loan rate will be reduced if the official rate declines and won’t be raised above the rate changes announced by the RBA if rates increase. The Rate Tracker Home Loan has been extremely well received by QTMB members looking for a better deal and certainty on interest rate movements.
Research conducted by RFi (Retail Finance Intelligence) earlier this year shows that Mutual ADIs (Authorised Deposit-taking Institutions) are well positioned in terms of satisfaction, advocacy and retention. Their clients are among the happiest with their products and institutions, are the most likely to give recommendations, and are also the least likely to switch.
As part of the rebrand, a particular focus and investment has been devoted to staff training and ensuring that customers of QTMB receive the best banking experience. QTMB’s ‘Own It’ programme encourages staff at QTMB to listen to their customers and work out ways to help them discover and achieve their goals, whether it’s paying off their home loan sooner or being able to retire earlier, it’s about what’s right for the customer. The program reinforces QTMB’s focus on member benefits rather than shareholder returns.