First Option Bank

First Option Bank
First Option is the most trusted small bank in Australia. Not a big bank, not a neo-bank. A just right real bank.

First Option Bank Ltd (formerly known as First Option Credit Union), based in Melbourne, VIC, provides a broad array of retail banking services to approximately 9,000 customers who comprise employees and family in the leisure, gaming, hospitality, telecommunications and energy industries. It offers transaction, savings and investment accounts, term deposits, personal and car loans, investment and home loans, refinance, business lending, trading accounts, Visa credit cards, overdrafts, foreign exchange, financial planning, mobile and online banking, and more. The insurance products include home, contents and car insurance, caravan, boat, landlord and travel insurance. First Option banking app (Easy App) is available for Android and iPhone on Google play and App Store with 4-star rating and 5-star rating, respectively. The company was formed in 2005, when TAB Credit Union (NSW) merged with Flying Horse Credit Union (VIC). In 2008, Ericsson Credit Union (Ericsson Employees Credit Co-operative Ltd) joined the First Option Family. In December 2018, First Option Credit Union became a mutual bank. For the financial year ended June 30, 2021, the company reported total assets of $250 million, loans and advances to members of $192 million, deposits of $228 million, members' equity of $15.5 million, and profit before income tax of $689,690.

First Option Accounts:
Budget Saver Account
Retirement Access Saver
Smart Start Access Saver
Mortgage Offset account
IT Saver Account
Kids Bonus Saver
Christmas Saver
Bonus Saver
Cash Management Account
Special Purpose Account
GST / Tax Saver Account
Standard Term Deposit
Regular Income Term Deposit

Head office address:
Level 6, 437 St Kilda Road
Melbourne VIC 3004

Opening Hours
Monday - Friday: 9:00 am - 4.30 pm
Phone number: 1300 855 675
Outside Australia: +61 3 9869 8700
BSB number: 802 876
ABN: 95 087 650 735

First Option Branches:
1 Memorial Drive, Granville NSW 2142

Mobil Oil Refinery
Cnr Millers & Kororoit Creek Roads, Altona VIC 3018

Maidstone Street, Altona VIC 3018

Updated October 25, 2021