Members Equity Bank (ME Bank) will extend its preferential pricing on home loans to other products as part of new marketing campaign.
The preferential pricing will apply to all members of industry superannuation funds and union members.
Members of industry superannuation funds and unions receive a discounted 0.5 per cent off their ME Bank home loan rates.
Preferential pricing will now apply to credit cards, savings accounts, term deposits and transaction accounts.
"Members Equity is a bank owned by industry super funds. Members of these funds are our target market and we are looking to provide them with better service," ME Bank's newly-appointed chief executive Jamie McPhee said.
The new marketing strategy will include a commercial on national television led by local actor and theatre veteran John Wood. Wood was best known for his portrayal of a sympathetic police sergeant on the television series Blue Heelers.
The commercial has been developed by the same advertising company who created the "compare the pair" campaign.
Two years ago ME Bank was subject to a confidential review by its shareholders, the industry superannuation funds.
"I believe the review had been finalised in June last year. Our shareholders are now fully committed to our organisation," McPhee said.
McPhee said he was open to talks with other funds about deals similar to the one it has with industry fund Hostplus.
In February, ME Bank and Hostplus opened a co-branded bank branch on the Gold Coast.
The bank would also be open to engage with its stakeholders, such as Industry Funds Management and Industry Fund Services, about the possibility of offering more products.
"I am open to communication and discussions with these stakeholders regarding extra services to our members, however any decision must be in the best interests of our customers," McPhee said.
ME Bank is owned by a number of industry superannuation funds that have over five million members. This represents around 35 per cent of the workforce.
