For over 60 years, we have provided friendly service, competitive rates, and real support — make First Option Bank your first choice for banking.

Mortgages

Low Variable Rates

First Option has a range of home and investment loans to suit your needs.

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Savings + Bonus

Earn up to 4.25% p.a.

On Balances up to $250,000. Just deposit $100 with no withdrawals each month.

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Kids Bonus Saver

Kids Earn up to 4.75%

On Balances up to $5,555. Just deposit $5 with no withdrawals each month.

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Everyday

Home Loans

Business

Kids

Proudly Member‑Owned. Always Member‑First.

Born from the idea that banking should be fair, simple, and personal, First Option Bank has grown into a trusted member‑owned bank supporting thousands of Australians.

Today, we help our members save more and stress less with competitive rates, friendly service, real support, and award‑winning digital banking designed for real life.

Backed by our Australian‑based Member Services and Lending Specialists, we’re here to guide you through every stage of your financial journey—from everyday banking to home ownership and beyond.

At First Option Bank, you’re not just a customer. You’re a member—and you come first.

Read Our Story

Award Winning

Celebrated and trusted by the Australian financial industry

Product Award 2026 Finalist

Best Kids Saving Account

Kids Banking

Mozo 2025 Winner

Expert Choice Award

Home loans

Product Award 2025 Finalist

Best Kids Saving Account

Kids Banking

Mozo 2024 Winner

Expert Choice Award

Home loans

Banking On The Go

The First Option Bank's Mobile App helps you to keep on track on your saving goals to get more from your dollars.

About the App

Don’t just take our word for it

Joe Jiang

05:19 23 Dec 25

I recently had to organize a contract variation for my loans and had the pleasure of dealing with Nicole. The service was outstanding from start to finish.
Nicole was incredibly efficient, responsive, and went above and beyond to secure a highly competitive rate that exceeded my expectations. She turned what could have been a stressful process into a seamless experience, especially right before the holidays.
If you are looking for a team that actually listens to their customers and values the relationship, I highly recommend them. Thanks again, Nicole—a fantastic way to end the year!

Jessica Smith

06:55 11 Dec 25

I recently required a top up of my home loan for a deposit on another property prior to selling my existing one.
However upon application, I realised I needed to take out a completely new loan.
The application was time critical so I was able to make an offer to secure this much sought after, new property.

The whole lending team, particularly Irene and Nicole really worked hard to prioritise each step of the process and my application was processed and approved with funds available in my account by the deadline. A whole lot of gratitude to the team for their wonderful, professional customer service.

Christine Nanson

03:37 07 Dec 25

My encounter with First Option Bank was unexpected and delightful. Nothing was too much trouble. The service was informative and very friendly. Transparency and professional service was received. I felt l had stepped back in time. I would highly recommend First Option Bank

Fazal Cader

00:24 05 Dec 25

My company has been with this bank only for about 4 months and their service and friendliness has been exceptional. They are obviously using all the customer service training manuals that were chucked out by the Big 4 banks a while back - and I should know, as an ex-CBA staffer! Great staff and such a user-friendly web site that I almost got misty-eyed!! Happy to keep giving them more business.

Pushpalatha Muniraju

23:34 03 Nov 25

First option bank is the best option bank excellent customers supporting and services team members, especially Mrs, Irene Hall lender wonderful and excellent patience and very accurate supporting and helping giveing information to customers. And also very mutual understanding crucial situation time supporting both sides , and also home loan interest rates and fees reasonable and good price. They are responsive and prompt in all the customers service on time no waiting to long time. We are happy to give you outcome and recommend first option bank to my family and friends. About negotiation, kind, reliable and capable, honest staff members . I would like to say once again thank you so much Irene, Louise, Nicole, Rhonda, Rita, and receptionist team who they calls and messages delivered, transfer to lenders on time was excellent.

Regards
Pushpalatha
Muniraju

Meg Geschke

05:19 19 Feb 20

Got my home loan through First Option Bank - they were very easy to deal with; much more personable than previous banks I've dealt with. Very competitive interest rates as well as useful account benefits.

Brian Bellomo

02:22 19 Feb 20

Personable service, we're not just an account number. Easy to contact even when overseas. Leaves the BIG 4 banks for dead!

Elias El Haddad

23:34 18 Feb 20

Great service and great Bank. I spoke to Rhonda the other day about my loans and she always makes sure i am a happy customer. I would really recommend this Bank.

alexander vladica

23:46 22 Jan 20

First Option Bank is always great to deal with. It has been a refreshing change since moving from one of the big 4 banks. You can really see that members are at the center of what they do! Their budget saver account has been especially helpful as it allows my family to track our bills and spending so we can rach our savings goals.

Jay Ford

23:22 22 Jan 20

Extremely knowledgeable and willing to answer any questions. Helped me get into my first home!! Irene Hall is the lady to ask for. Couldn't have done it without her.

Digital Innovations

01:34 22 Jan 20

First Option go out of their way to assist. We have Property Loans, Credit cards and business banking with First Option and love dealing with the team!

Owen CIANTAR

01:08 14 Oct 19

Great cash loan interest rates.

hayden leadbetter

23:14 13 Nov 16

Great credit union allways go out of their way to help, I've been with them since my credit union merged with them many years ago. You allway get a real person and real advice no strings attached.

I've had a few small issue over the years due to there size and not being able to offer certain things, but they get better everyday and have come along way with their award winning products and services along with a great internet banking servcie for a credit union.
I'd recommend them to anyone look ing for a new place to bank with.