ME Bank

Twenty-six industry super funds own ME.

ME was created in 1994 by the industry super funds to help everyday Australians realise the dream of owning
their own home.

Today, ME is still owned by industry super funds so profits stay local with the organisations that manage the retirement savings of over 5 million Australians. Savings with ME are protected by a deposit guarantee from the Australian Government.

5 signs your finances need an overhaul in 2020
Know the five key indicators that you may be heading into financial stress in 2020 and tips on what you can do to avoid it, brought to you by industry super fund-owned bank ME.

  1. Your bank account is frequently overdrawn
    If your account regularly dips into a negative balance, review your budget to see if you’re overspending. Check if you’re being overly ambitious with savings – trying to save too much, too fast could leave you overdrawn.
  2. Your emergency savings are worth less than three months’ pay
    ME research  found one in five households didn’t think they could raise $3,000 in an emergency. Growing rainy day money doesn’t have to be hard. Work out what you can comfortably tuck away each month and then set up a regular transfer of funds into a separate savings account.
  3. You have a credit card debt AND savings
    A ME survey found 42% of credit cardholders with outstanding card debt also have personal savings. Yet chances are you’ll pay a much higher interest rate on the card balance than you’ll earn on savings. It can make more financial sense to use savings to pay off high interest debt first, then concentrate on growing spare cash.
  4. You’re paying high fees
    Review your bank statements to see what you’re really paying in account fees. Plenty of banks don’t charge regular account-keeping fees. Some also offer refunds for ATM fees. Use 2020 to get a better deal on everyday banking.
  5. Money matters are a source of stress
    If money matters are robbing you of sleep, it’s time to take action. A valuable first step can be expanding your financial know-how. 

Head to ME’s free online school of money, Ed, to boost your financial IQ and discover simple strategies to get your finances in great shape.

This article is brought to you by ME. For more information, please visit

Members Equity Bank Limited ABN 56 070 887 679 AFSL and Australian Credit Licence 229500.