Australian Military Bank

What Australian Military Bank does

Australian Military Bank Ltd (ABN 48 087 649 741) is an Australian mutual bank and Authorised Deposit-Taking Institution regulated by APRA and ASIC, operating since 1959 (originally founded as Navy Civil Staff Co-op. Ltd.). It serves the Australian Defence Force community — serving personnel, ex-serving members, families and Defence-aligned investors — and is open to the general public. The bank positions itself as Australia's longest-serving Defence financial institution, with a product suite anchored on Defence Home Ownership Assistance Scheme (DHOAS) home lending and supported by standard owner-occupier and investment home loans, personal/car loans, a Low Rate Visa credit card, everyday transaction accounts (including Military Rewards with 1% Visa payWave cash back, Military Kids, Mess and Recruit Salary Saver), savings accounts, term deposits, Capital Guaranteed Super/Pension and DIY Super Saver, plus Cash Passport and overseas payments. General insurance (home, contents, car, motorcycle, caravan, boat, trailer, landlord, barracks and travel) is distributed under AMB's AFSL through partnerships with Insurance Australia Limited (CGU) and Cover-More/Zurich.

The bank's technology platform comprises Internet Banking, native iOS and Android mobile banking apps with biometric authentication, digital wallet tokenisation, PayID/Osko real-time payments via the New Payments Platform, Open Banking / Consumer Data Right data sharing, Confirmation of Payee, Bank@Post cash access, an Xero bank-feed integration, Equifax credit reporting, and Microsoft Bookings for Mobile Banker appointments. Distribution combines on-base and metropolitan branches (e.g., Gallipoli Barracks Enoggera, Holsworthy), a national Mobile Banker field force covering at least seven regions (ACT, Brisbane, Melbourne, Perth, Sydney, South Australia, North Queensland), a Member Engagement Centre (1300 13 23 28), a broker portal for third-party mortgage distribution, and digital self-serve channels.

Revenue is generated through interest income on home, personal, car and credit-card lending; net interest margin on transaction, savings, offset and term-deposit balances; superannuation and pension product spread; insurance distribution commissions from CGU and Cover-More/Zurich; and FX/fees on Cash Passport and overseas payments. The institution is privately held as a mutual (members are shareholders), with no parent company, public listing or external equity backers disclosed; headcount is 101–250 employees and no revenue figure is publicly disclosed in the source material.

Name

Australian Military Bank

Legal name

Australian Military Bank Ltd

Website

https://australianmilitarybank.com.au

Company type

Private

Founded year

1959

Operating status

Operating

Headcount range

101–250 employees

Short description

Australian Military Bank is an APRA-regulated mutual bank founded in 1959 that provides home loans (including DHOAS specialist lending), personal/car loans, credit cards, everyday and savings accounts, superannuation, and CGU-distributed general insurance to Australian Defence Force personnel, ex-serving members, families and the broader public.

Ownership category

akta.pro rank

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices10 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Home Lending (DHOAS, standard and investment): Interest income and fees on a broad suite of owner-occupier and investment home loans (fixed, variable, RateSaver, construction, value) including the specialist DHOAS scheme product set for ADF members.
2. Personal & Car Loans: Interest income from unsecured personal loans, fixed-rate personal loans, debt consolidation loans, car loans and used car loans.
3. Everyday & Savings Accounts: Account fees, Relationship Rewards fee rebates, and net interest margin on transaction (Access, Mess, Military Kids, Military Rewards, Pension Access, Recruit Salary Saver, 100% Mortgage Offset) and savings (Online Saver, Christmas Club) balances.
4. Credit Card (Low Rate Visa): Interest income on revolving balances, interchange, and ancillary fees on the Low Rate Visa card with 0% p.a. balance transfers for 12 months.
5. Term Deposits & Superannuation: Spread between interest paid on term deposits and Capital Guaranteed Super/Pension/DIY Super Saver accounts and earnings on those invested funds.
6. Insurance Distribution (CGU and Cover-More): Commission income from distributing home, contents, landlord, car, motorcycle, caravan, boat, trailer, barracks and travel insurance under CGU (Insurance Australia Limited) and Cover-More/Zurich travel policies.
7. Cash Passport & Overseas Payments: FX margin and fees on multi-currency Cash Passport card product and overseas payments service.

Pricing tiers

Go-to-market motion6 records

Distribution channels8 records

Marketing channels10 records

Core offering

Australian Military Bank is a member-owned mutual bank that delivers everyday banking, lending, superannuation and insurance products to the Australian Defence community. Core products include DHOAS-specialist home loans, owner-occupier and investment mortgages, personal and car loans, the Low Rate Visa credit card, transaction/savings accounts (including Military Rewards with 1% payWave cashback), term deposits, capital-guaranteed super and pension products, and a CGU-distributed insurance suite spanning home, contents, landlord, car, motorcycle, caravan, boat, trailer, barracks and travel cover. Services are delivered via branches, a national Mobile Banker field force, phone, Internet/Mobile banking, Bank@Post and digital integrations including PayID/Osko, Confirmation of Payee, Open Banking and Xero.

Product overview

Australian Military Bank is a member-owned mutual bank (an Authorised Deposit-Taking Institution regulated by APRA) that has served the Australian Defence community since 1959. It operates a single integrated platform of banking products and services rather than separate modules: lending (DHOAS Home Loans, standard Home Loans, Investment Home Loans, Personal Loans and Car Loans), payments (Low Rate Visa Credit Card, Everyday Accounts including Military Rewards with 1% Visa payWave cash back, Savings Accounts, Term Deposits, and Cash Passport / Overseas Payments), retirement (Capital Guaranteed Super, DIY Super Saver for SMSFs and Capital Guaranteed Pension), and a comprehensive general-insurance suite (Barracks, Home & Contents, Car, Motorcycle, Landlord, Caravan, Boat, Trailer and Travel) underwritten by CGU / Cover-More. The platform is delivered through Internet Banking, the Mobile Banking App (iOS/Android), a national branch and Mobile Banker network, and supporting tools including an integrated Xero accounting bank-feed, a full suite of financial calculators, Confirmation of Payee, PayID/Osko real-time payments and Consumer Data Right (Open Banking) data sharing.

Differentiator

Problem solved

Functional benefit

Brands

• Military Rewards: Cash back rewards everyday account earning 1% cash back on Visa payWave purchases for eligible members
• Military Kids Account
• Military Clubs Account
• Recruit Salary Saver
• DIY Super Saver
• RateSaver Home Loan
• Low Rate Visa Card

Products and services

• DHOAS Home Loans Defence Home Ownership Assistance Scheme (DHOAS) subsidised home loans for eligible current and former ADF personnel, including RateSaver, 1-, 2- and 3-year fixed-rate, variable, construction and value variants. Headline DHOAS RateSaver LVR ≤70% rate 6.04% p.a. (6.07% comparison rate).
• Home Loans Owner-occupier home loans including Standard Variable (with offset), 1-, 2- and 3-Year Fixed, Construction, RateSaver and Value variants, with Rate Lock and offset account options.
• Investment Home Loans Investment property loans including Investment Fixed Rate, Investment RateSaver, Investment Value and Investment Construction variants.
• Personal Loans Personal loans including Fixed Rate Personal Loan and Debt Consolidation Loan, available for holidays, weddings, renovations and debt consolidation.
• Car Loans Secured car loans including Car Loan (new/near-new vehicles) and Used Car Loan, usable for cars, motorcycles and boats under 5 years of age. Headline rate 6.35% p.a. (7.27% comparison rate).
• Low Rate Visa Credit Card Low Rate Visa card offering 0% p.a. on Balance Transfers for 12 months, with up to 45-day interest-free period on purchases.
• Everyday Accounts Everyday transaction accounts including Access, Mess (Military Clubs), Military Kids, Military Rewards (1% Visa payWave cashback), Pension Access, Recruit Salary Saver and 100% Mortgage Offset accounts.
• Savings Accounts Online Saver and Christmas Club savings accounts with bonus interest options on the Online Saver for eligible deposits.
• Term Deposits Investment Plus and Income Plus term deposits with fixed investment terms available via the Term Deposit Calculator and online application.
• Superannuation Capital Guaranteed Super Account (min balance $6,000), DIY Super Saver (for SMSFs), and Capital Guaranteed Pension Account (min $50,000 open, $2,000 ongoing) with 12/24/36-month fixed-term investment options.
• Cash Passport Multi-currency travel money card linked to Australian Military Bank for use overseas, available via the Cash Passport portal.
• Overseas Payments International money transfer and SWIFT payment services for members sending or receiving money from overseas.
• Barracks Insurance CGU-underwritten contents cover for ADF members living in communal barracks, with new-for-old replacement, deployment cover up to 270 days, relocation cover up to 30 days, up to $30 million liability cover as standard, and optional valuable items cover.
• Home and Contents Insurance CGU-underwritten Building, Contents, Building Plus, Contents Plus and combined Building & Contents Insurance, with optional accidental damage, motor burnout, valuable contents and portable contents cover.
• Car Insurance CGU-underwritten Car Insurance offered in Comprehensive Plus, Comprehensive, Comprehensive Basics, Third Party Fire & Theft, and Third Party Property Damage tiers, with optional excess-free glass, hire-car and any-repairer extensions.
• Motorcycle Insurance CGU-underwritten Comprehensive Motorcycle Insurance covering accidental damage, theft, fire, flood, vandalism and storm, with up to $20m liability cover and new-for-new replacement on bikes written off in their first 2 years.
• Landlord Insurance CGU-underwritten Landlord Building and Contents insurance for rental properties, including loss of rent up to 12 months, theft and vandalism by tenants, and optional rent default cover.
• Boat Insurance CGU-underwritten Boat Insurance covering accidental damage, collision, fire, storm, flood, theft and vandalism, with up to $10m liability cover, towing and emergency transport/accommodation.
• Caravan Insurance CGU-underwritten Caravan Insurance covering accidents, theft, severe weather, new replacement in first 2 years, food spoilage and up to $20m liability.
• Trailer Insurance CGU-underwritten Trailer Insurance covering theft, damage, fire, flood and storm, with new replacement in the first 2 years (trailers under 3.5 tonnes) and emergency repairs up to $800.
• Travel Insurance Cover-More International and Domestic Travel Insurance plans distributed via CGU, including annual multi-trip and single-trip options with COVID-19 cover, 24/7 worldwide emergency assistance and online claims.
• Mobile Banking App Native iOS and Android mobile banking application with Face ID / fingerprint authentication, digital wallet tokenisation, in-app support and access to Internet Banking features.
• Internet Banking Browser-based Internet Banking portal with a new-version experience promoted on the homepage, supporting account management, payments, statement access, PayID, Confirmation of Payee, Xero integration and Digital Wallet management.
• Xero Integration Bank-feed integration that sends selected Australian Military Bank account balances and transactions to Xero daily for reconciliation, reducing manual data entry for members using Xero accounting software.
• Mobile Bankers Free face-to-face mobile banker service covering ACT, Brisbane, Melbourne, Perth, Sydney, South Australia and North Queensland, supporting home loans, personal/car loans, credit cards, term deposits, insurance and DHOAS.

Quantifiable outcome

• Up to 1% cash back on Visa payWave purchases (under $100) via Military Rewards Account when a minimum $2,000 is deposited monthly (excluding internal transfers).
• +3 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature7 records

Partnerships

Eight partnerships are on record, tiered flagship, core and minor.

• Insurance Australia Limited (CGU brand)flagshipStrategic or Co-development PartnerAustralian Military Bank distributes general insurance products (Home, Contents, Building, Landlord, Car, Motorcycle, Caravan, Boat, Trailer, Barracks) under its own AFSL under an agreement with Insurance Australia Limited (ABN 11 000 016 722, AFSL 227681) trading as CGU. CGU underwrites the policies, AMB distributes and earns commission; the partnership spans quoting, underwriting, claims (via CGU on 13 24 80, 24/7) and product disclosure documentation.
• Cover-More Insurance Services (Zurich Australian Insurance Limited)coreStrategic or Co-development PartnerTravel insurance is underwritten by Zurich Australian Insurance Limited (ABN 13 000 296 640, AFSL 232507). Cover-More Insurance Services Pty Ltd (ABN 95 003 114 145, AFSL 241713) administers the policies and arranges issuance under a binder authority from ZAIL. Insurance Australia Limited (CGU brand) is authorised to distribute, and Australian Military Bank distributes the product under contract with CGU, earning commission. Provides International and Domestic Comprehensive/Cancellation plans, Annual multi-trip or Single trip options, and 24/7 worldwide emergency assistance.
• XerocoreTechnology or IntegrationAustralian Military Bank offers an integrated Xero bank feed. Members select accounts to sync in Internet Banking under 'My Details & Settings'; transaction data is pushed securely to Xero daily between 12am and 2am. No historical backfill — only transactions after connection are synced. Used by small business members for tax, reconciliation and bookkeeping automation.
• EquifaxcoreTechnology or IntegrationEquifax is the named credit reporting body used by Australian Military Bank. The bank obtains credit scores, default information, repayment history and other credit eligibility information from Equifax to support credit assessments for lending products (home loans, personal loans, car loans, credit cards). Equifax also uses AMB-supplied data in reports provided to other credit providers.
• Bank@Post (Australia Post)coreChannel Partner/ Reseller/ DistributorThrough Bank@Post, Australian Military Bank members can deposit and withdraw cash at Australia Post outlets nationally — extending physical cash access beyond the bank's own branch and mobile banker footprint.
• VisacoreOEM/ Whitelabel/ Licensing PartnerAustralian Military Bank issues Visa cards (Low Rate Visa credit card, Visa debit cards including Military Kids account, digital wallet tokenisation). Card scheme governed by Visa rules; international customer service via the Visa International Hotline. Lost/stolen card hotline 1800 648 027 (Australia).
• Housing Australia (HA) / Commonwealth of Australia — 5% Deposit SchemecoreStrategic or Co-development PartnerAustralian Military Bank participates in the Australian Government 5% Deposit Scheme, helping first home buyers purchase with as little as a 5% deposit via a Government guarantee. AMB may disclose personal information to Housing Australia or the Commonwealth where required to satisfy scheme requirements.
• Apple App Store / Google PlayminorChannel Partner/ Reseller/ DistributorAustralian Military Bank Mobile Banking app is distributed via the Apple App Store (iOS — id1344194640) and Google Play Store (Android — com.AMBMobileApp), enabling self-serve product origination (e.g., Car Loan application) and account access.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Defence Bank: Australian mutual bank (formerly Defence Force Credit Union) that similarly targets ADF members, ex-serving personnel and their families with home lending, personal loans, savings and insurance. It is the most directly comparable competitor to Australian Military Bank in the Defence-affinity mutual banking niche.
• Police Bank: Customer-owned mutual bank serving Australian police and emergency services personnel with full retail banking and home lending. Closely comparable professional-affinity mutual model and member base size to Australian Military Bank.
• People's Choice Credit Union: Large Australian customer-owned mutual bank offering full retail banking, lending and insurance distribution. Comparable mutual/ADI structure and full-service product range to Australian Military Bank, though significantly larger scale and broader (non-affinity) target market.
• Heritage Bank: Customer-owned mutual bank (formerly Heritage Building Society) operating nationally with home loans, deposits, credit cards and insurance distribution. Comparable mutual ADI model and product breadth to Australian Military Bank.
• Bank Australia: Australian customer-owned mutual bank with values-driven positioning, full retail lending and deposits. Shares mutual ownership, APRA-regulated ADI status and full-service product suite with Australian Military Bank, though at larger scale.
• Beyond Bank Australia: Customer-owned mutual bank formed from the merger of Bendigo Bank/Community CPS and P&N Bank, offering full retail banking, lending and insurance. Comparable mutual ADI model and product breadth to Australian Military Bank, with broader geographic reach.
• Great Southern Bank: Customer-owned mutual bank (formerly CUA) operating nationally with full retail banking products and insurance distribution. Comparable mutual/ADI structure and product suite to Australian Military Bank, though at significantly larger scale.
• Teachers Mutual Bank: Customer-owned mutual bank serving the education profession with home loans, deposits and insurance. Comparable professional-affinity mutual banking model and member-base dynamics to Australian Military Bank.

Broad incumbents

• Newcastle Permanent Building Society: Customer-owned mutual building society (part of Newcastle Greater Mutual Group) offering full retail banking, home lending and insurance. Comparable mutual ADI model with broader (regional rather than profession-affinity) target market.

Regional players

• Regional Australia Bank: Customer-owned mutual bank serving regional and rural NSW/ACT with full retail banking, lending and insurance. Comparable mutual ADI structure and full-service product suite, though with a regional rather than Defence-affinity target market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/AustralianMilitaryBank
• LinkedInau.linkedin.com/company/australian-military-bank
• Instagraminstagram.com/ausmilitarybank
• Xx.com/ausmilitarybank

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Australian Military Bank