Non-major launches new brand, simplifies home loan offerings

by Julia Corderoy28 May 2015
ME, formally known as ME Bank, has launched its new brand identity, complete with a renewed approach product innovation to support the ongoing growth of the bank.

Major changes include a contemporary black-and-white logo and an official name change that embraces how the majority of customers were instinctively referencing the Bank –  ‘ME’, pronounced like the pronoun ‘me’.

ME brand and digital director, Ingrid Purcell said the brand refresh has carried through to the bank’s design of products and services for customers.
“Our belief is that banking has been made too complicated and complex – customers want to get ahead and want a bank that helps them achieve this simply and easily in a digital world − that’s our aim,” she said.

As a part of the non-major’s new brand identity and renewed approach to product innovation, ME has simplified its home loan offerings into two products − Basic and Flexible.

The Basic Home Loan is a new variable rate product, offering an interest rate of 4.29% (comparison rate 4.30%) with a free redraw facility.

ME general manager broker, Lino Pelaccia says the Basic Home Loan will be appealing to borrowers seeking value without the bells and whistles.

“It’s the first time we’ve offered a basic home loan and with around 10% of the market purchasing this product we expect it to boost lending growth.”

In addition to a Basic Home Loan, ME has introduced a Flexible Home Loan.

“Your clients can choose between fixed and variable or spilt between the two. They can also choose from a host of customisable add-ons such as free redraws, easy offset and the option to buy a member package,” Pelaccia said.

“We’ve also introducing additional fixed terms enabling us to offer loans between 1 and 7 years.”

Both home loan products will be completely free from application or account-keeping fees, according to the non-major.

Last August, ME opened up access to its discounted home loan rates to all Australians and removed the requirement to be a member of a union or industry super fund.