About Us

The story of First Option Bank began in 1965, when TAB Staff & Agents Credit Union was established in New South Wales to serve employees within the NSW public service and gaming industry. A few years later, in 1972, Flying Horse Credit Union was founded in Victoria, providing banking services to the Mobil Oil Australia employees.  
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Our Difference

It’s banking, but nicer. By banking with First Option, you’ll benefit from:

A Bank That Truly Belongs to You
Our member-owned bank is owned by its members, meaning every decision we make is guided in the best interests of those who join us. Unlike traditional banks, we don’t answer to shareholders seeking profits. Our priority is, and always will be, serving our members.

Personalised Service for Every Member
We pride ourselves on offering personalised service that larger institutions simply cannot match. Our size allows us to focus on understanding each member’s unique circumstances and our team is always ready to help.

Competitive Rates and Member Benefits
We offer competitive rates on loans, savings, and other financial services. Our focus isn’t on maximising profits but on providing maximum benefits to our members. You’ll enjoy fair pricing, tailored products, and exclusive perks designed with you in mind.

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Our Values 

Member First

We’re here to help. We prioritise your needs above all else to ensure you feel valued, respected and financially confident.

Trust & Service

We provide reliable, courteous and responsive service to build long-term relationships and ensure you feel valued and understood.

Security & Reliability

Your money is safe with us and managed with the utmost care.  We have the same safeguards as all banks to protect you and your money.

Our Community

As a member owned bank, we exist to serve our members, not shareholders.  As part of our commitment to the community and environment, we fund positive change programs.
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Our Commitment

As part of our commitment to the customer owned banking sector, we follow the Customer Owned Banking Association Code of Practice:

• We will deliver banking services in the interests of our customers.
• We will obey the law.
• We will not mislead or deceive.
• We will act honestly and fairly.
• We will offer products and services that are fit for general purpose.
• We will deliver services with reasonable care and skill.
• We will contribute to our community.

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Our Membership Bond

A person is eligible to be a member of First Option under any of the following categories:

  1. An employee, officer or agent of:
    1. the Public Service.
    2. a corporation or business in the recreation services, energy, telecommunications, and manufacturing industry.
    3. a self-employed person or small business associated with (b).
    4. First Option Bank.
    5. a corporation or business approved by the board.
  2. Family relation of an existing member.
  3. a former member of at least 1 year who is re-joining.
  4. a person who has an affinity with First Option and is approved by the board.
  5. a current member who is no longer eligible under one of the above categories.
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