When it comes to managing your home loan, an offset account can be a powerful tool if used correctly. How does an offset account work? The concept is simple yet powerful. The balance in the offset account is subtracted from the outstanding mortgage balance, reducing the amount on which interest is calculated. As a result, members can effectively ...

AGM – Change of Time, Venue and Format The ANNUAL GENERAL MEETING of Railways Credit Union Limited trading as MOVE Bank (“MOVE Bank”) will be held on Wednesday 15 November 2023.A notice of meeting and explanatory statement will be sent to shareholders in early October. This is preliminary notice of the date and that this year thevenue, time and fo...

At MOVE, we have been providing our members with newsletter updates for well over 50 years. In this edition, we take a quick look back through the decades with the following excerpts and visuals taken from past publications. 50 Years ago 40 Years ago 30 Years ago           20 Years ago     Of course, some things change about how MOVE ...

Scams continue to be the easiest way criminals trick people into providing access to their accounts or transferring money. A recent post from Scam Watch reports a 160% increase in myGov scams in January 2023 compared to the previous month. Don’t be fooled though if it’s not myGov, scams are essentially always the same under different guises. Whethe...

The Government Guarantee Scheme was put in place during the Global Financial Crisis (GFC) in 2008 to give the public confidence in the Australian Banking System. Nowadays, it is the known as the Financial Claims Scheme (FCS). The FCS is a government-backed safety net for deposits of up to $250,000 per account holder per Authorised Deposit Institut...

What is a digital wallet? A digital wallet is the ability to make secure contactless purchases in stores, and on participating apps and websites using your MOVE Bank Visa debit and/or credit cards via your smartphone or smartwatch device. There are many mobile payment services available in the market, however the two most common are Apple Pay* and...

Incredibly, it was only in May last year that the RBA increased the cash rate for the first time since 2010.* We have now seen a record-breaking string of increases that have risen us to the highest cash rate in over a decade. While this is far from the highest the cash rate has been, the longer-term low interest rates have contributed to much hi...

Our AGM provides an opportunity for MOVE Bank members to vote on motions relating to the governance of the organisation and ask questions directly to our Board of Directors and Executive Staff. At this year’s AGM members approved the following motions: The re-election of Scott Reidel as a Director The re-election of Mick Skinner as a Director ...

Working in the MOVE Bank contact centre, I am aware that we have a member base with long memories. The Whitlam years, the introduction of GST, the fall of the Berlin Wall. I mention this because if we have spoken over the phone about any potential scams that concerned you, I have given you this piece of advice: trust but verify. Trust but verify i...