A comprehensive report from FIIG's in house research team
Members Equity Bank Limited (‘ME Bank’) was created in 1999, albeit its heritage dates back to 1994 when the Australian Council of Trade Unions and National Mutual launched Super Member Home Loans. The bank is an Authorised Deposit-taking Institution (‘ADI’) in Australia, which is regulated by APRA and governed by The Banking Act 1959.
The bank is owned by 29 Industry Superannuation Funds (‘ISFs’) that exhibit a proven track record of investing in the growth of the business via regular capital injections and retention of dividends. ME Bank’s top 4 shareholders - AustralianSuper (finance/general), CBUS (construction), Hesta (health) and Hostplus (hospitality) – own 80% of the bank.