Family First Credit Union

What Family First Credit Union does

Family First Credit Union, trading as Family First Bank, is a customer-owned mutual banking institution founded in 1967 and headquartered in Lithgow, New South Wales. The bank serves retail consumers, small businesses and community organisations across regional NSW through four physical branches (Lithgow, Bathurst, Blackheath and Mudgee) plus digital channels and access to over 3,300 Bank@Post outlets. Its core product set spans home loans (including the Family Pledge Home Loan which uses family equity as security), car loans, personal loans, savings accounts, term deposits, Visa debit cards, foreign currency services (via Travelex partnership), and a suite of financial calculators.

Technology infrastructure is built around a digital banking platform consisting of internet banking, a mobile banking application (iOS/Android), BPAY integration into a national network of 4,000+ billers, the New Payments Platform (NPP), Open Banking / Consumer Data Right compliant REST APIs, the Document Verification Service for identity verification, and Visa debit card rails with digital wallet support. Security is delivered through 128-bit SSL encryption, automatic 20-minute session timeouts, and three-attempt account lockout. The bank's most recent platform investment was a May 2024 mobile banking app overhaul introducing a quick balance screen, savings goal tracking and an onboarding app tour.

The business model is interest-income driven (home, car and personal loans, overdrafts) supplemented by deposit interest expense, transaction-based fees (e.g., $17.50 dishonour fee) and foreign exchange spread income through Travelex. As a customer-owned institution with no external shareholders, profits are reinvested into member benefits and community programmes rather than distributed. Effective 1 March 2026, Family First merged with Beyond Bank Australia following an 89.6% member approval vote, creating a combined entity with over $11.3 billion in assets, 340,000+ members and 50+ branches across NSW, ACT, Victoria, South Australia and Western Australia, with banking systems integration completed on 7 June 2026. The bank holds AFSL/Australian Credit Licence No. 237856, complies with the Customer Owned Banking Code of Practice, and was awarded the Mozo Experts Choice 2025 Award for Low-Cost Home Loan.

Name

Family First Credit Union

Legal name

Beyond Bank Australia Ltd T/AS Family First Bank

Website

https://familyfirst.com.au/

Company type

Private

Founded year

1967

Operating status

Acquired

Headcount range

11–50 employees

Short description

Family First Bank is a customer-owned mutual bank in regional NSW offering home loans, car loans, personal loans, savings accounts, term deposits and FX services to retail, small business and community-organisation members. Following its 2026 merger with Beyond Bank Australia, the combined entity holds over $11.3 billion in assets and serves 340,000+ members across 50+ branches.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (522130), Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industries

Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB), Bank Branch / Retail Purchase Mortgages (FSALAAAA)

Keywords

• Retail banking
• Consumer lending
• Deposit accounts
• Digital banking
• Home loans

Headquarters

HQ city

Lithgow

HQ country

Australia

HQ region

Oceania

Offices4 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. Interest Income: Primary revenue from interest charged on home loans, car loans, personal loans, and overdrafts. Interest rates are listed publicly and subject to change.
2. Deposit Interest: Interest earned on savings accounts, term deposits, and special term deposits. Competitive rates offered to attract deposits.
3. Fees and Charges: Various fees including dishonour fees ($17.50), service fees, and charges for banking services as outlined in their fees and charges schedule.
4. Foreign Exchange Services: Revenue from foreign currency exchange services provided through partnership with Travelex for international travel.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Family First Credit Union (trading as Family First Bank) is a customer-owned Australian mutual bank offering home loans (including the Mozo Experts Choice 2025 Low-Cost Home Loan award winner and the Family Pledge Home Loan), car loans, personal loans, savings accounts, term deposits, overdrafts, Visa debit cards, and foreign currency services. It distributes these products via physical branches in regional NSW, internet and mobile banking, phone banking, and Bank@Post outlets, now operating as part of Beyond Bank Australia following the 2026 merger.

Product overview

Family First Bank is a customer-owned financial institution offering a comprehensive suite of banking products and services. The core offering includes home loans (Standard Variable Rate and Family Pledge variants), savings accounts, car loans, personal loans, and term deposits. Digital banking is delivered through Internet Banking and a Mobile Banking App. The bank also provides foreign currency services via Travelex partnership, Visa debit cards, BPAY bill payments, and access to insurance products. Financial planning tools including various calculators support customer decision-making. The bank operates as part of the customer-owned banking sector with merger plans to join Beyond Bank Australia, expanding its digital capabilities and branch network.

Differentiator

Problem solved

Functional benefit

Products and services

• Home Loans Range of home loan products including the award-winning Standard Variable Rate Home Loan (Mozo Experts Choice 2025 Low-Cost Home Loan) for purchasing or refinancing residential property, targeted at individual consumers.
• Family Pledge Home Loan
• Savings Accounts
• Term Deposit Accounts
• Car Loans
• Personal Loans
• Overdrafts
• Visa Debit Card
• Internet Banking
• Family First Mobile Banking App Mobile banking application for iOS and Android offering quick balance viewing, savings goal tracking, account transfers, BPAY payments, biometric authentication (facial and voice), and location-based branch and ATM finding.
• Foreign Currency Services
• Business Banking

Quantifiable outcome

• Mozo Experts Choice 2025 Award in Low-Cost Home Loan category from evaluation of 444 home loans from 97 lenders

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability5 records

Feature5 records

Partnerships

One partnership is on record.

• Beyond Bank AustraliacoreStrategic or Co-development Partner · 1 January 2024Family First Bank signed a Memorandum of Understanding with Beyond Bank Australia, a fellow customer-owned institution. The merger will create a combined entity with over $11.3 billion in assets, 340,000+ members, and 50+ branches. Pending regulatory approvals from ASIC, APRA, ACCC, and member vote. Merger approved by 89.6% of members at Special General Meeting. Merger effective from 1 March 2026 with systems integration on 7 June 2026.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Bank Australia: Melbourne-based customer-owned, B Corp-certified bank competing on values-led banking, home loans, and deposits; very similar ESG/ethical positioning and product set to Beyond Bank/Family First.
• P&N Bank: Western Australian customer-owned bank serving the Peel and broader WA community; similar mutual structure and regional/community-focused retail banking proposition to Family First.
• Great Southern Bank: Queensland-headquartered customer-owned bank (formerly Credit Union Australia) offering home loans, savings, and personal banking; directly comparable mutual business model and retail deposit focus.
• Teachers Mutual Bank: Australian customer-owned bank (Teachers Mutual Bank Limited) offering home loans, savings, and personal banking to members nationwide; comparable mutual structure and product mix to Family First/Beyond Bank.
• Beyond Bank Australia: Australia's largest B Corp-certified customer-owned bank; merged with Family First effective 1 March 2026. Direct mutual-bank peer with overlapping deposit, lending, and Open Banking product set.
• People's Choice Credit Union: Large Australian customer-owned banking group formed from the merger of People's Choice and Heritage Bank; directly competes with Family First/Beyond Bank on home loans, deposits, and member-owned positioning across regional Australia.
• Heritage Bank: Toowoomba-headquartered Australian mutual bank offering home loans, deposits, and personal banking with a regional Queensland footprint; structurally and competitively similar to Family First's regional mutual model.
• Newcastle Permanent Building Society: Hunter-region based Australian mutual building society (part of the Newcastle Greater Mutual Group) competing directly on home loans, personal loans, and deposits in regional NSW.

Broad incumbents

• Macquarie Bank: Major Australian bank with a large and growing mortgage book and digital banking app; broad incumbent competing aggressively on home-loan pricing and digital UX against mutual banks and Family First/Beyond Bank.
• Commonwealth Bank of Australia: Australia's largest retail bank and dominant mortgage lender; broad incumbent competitor with extensive branch network, digital banking, and significantly greater scale across the same home-loan and deposit categories.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/familyfirstbank
• YouTubeyoutube.com/channel/UCxTvJvhSzvRkVPNvN7L93vg
• Facebookfacebook.com/FamilyFirstBank
• LinkedInlinkedin.com/company/family-first-bank
• Instagraminstagram.com/familyfirstbank

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 Family First Credit Union