Easy Street

What Easy Street does

Easy Street is an Australian online-only retail bank operated as a division of Community First Credit Union Limited, a customer-owned mutual (AD) regulated by APRA that has been in operation since 1959 and holds over $1 billion in assets. The Easy Street brand has been operating since 2004, serving Australian consumers exclusively through digital channels (website, mobile app, and Sydney-based phone contact centre), with no physical branches and Bank@Post providing cash access. The core product set is intentionally narrow: an Everyday Account (fee-free Visa Debit), a Flex Saver high-interest savings account (5.05% p.a. variable), a Street Smart Variable Home Loan, and a 1/2/3-year Fixed Home Loan, with a promotional Variable rate of 5.99% p.a. for new applications funded in 2026.

The technology stack is a conventional online banking platform with iOS and Android mobile apps, integrated with Visa's card network (including Click to Pay), Apple Pay, Google Pay, Samsung Pay, Osko/BPAY real-time payments on the New Payments Platform, and a third-party statement-verification integration via BankStatements.com.au. Recent product investments have focused on digital-first customer experience: a March 2026 mobile app upgrade added Confirmation of Payee, account customisation, savings goal tracking, and biometric authentication, while Digital Cards (2025) and FASTRefi (2025) reduced card issuance friction and refinancing friction respectively. Several legacy products (Easy Low Rate Credit Card, Bonus Saver Account, Fixed Personal Loan) have been retired from new sales, with the credit card legacy book repricing upward.

The business model is a deposit-funded retail banking franchise generating revenue primarily through net interest spread between variable savings (5.05% p.a.) and mortgage lending (5.99% p.a. promotional variable, 6.34%-6.54% p.a. fixed), supplemented by transaction fees (3% international transaction fee, $5 overseas ATM fee). As a customer-owned institution, profits are recycled to members through better rates and lower fees rather than distributed to external shareholders. Distribution is fully self-serve digital (website, mobile app, internet banking) supplemented by an Australian-based phone contact centre for complex mortgage products; Bank@Post extends physical cash access via Australia Post. Marketing relies on website content, financial calculators, customer reviews on ProductReview.com.au (4.2/5 from 108 reviews), and industry award positioning (Finder Awards 2025 & 2026, Mozo 2024).

Name

Easy Street

Legal name

Community First Credit Union Limited

Website

https://easystreet.com.au

Company type

Private

Founded year

2004

Operating status

Operating

Short description

Easy Street is an Australian online-only retail bank division of Community First Credit Union, offering fee-free everyday accounts, high-interest savings, and home loans to Australian consumers via website, mobile app, and phone support, with no physical branches.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Consumer Lending (522291)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB)

Keywords

• Online retail banking
• Digital home loans
• High-interest savings
• Transaction accounts
• Customer-owned banking

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Spread: Easy Street earns interest spread by lending at higher rates (home loans starting from 5.99% p.a.) while paying lower rates on deposits (Flex Saver at 5.05% p.a.).
2. Fee Revenue: Fees from international transactions (3%), overseas ATM withdrawals ($5), credit card services, and various account services.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

Easy Street is an online-only banking division of Community First Credit Union that delivers retail banking products to Australian consumers via website, mobile app, and phone support. Its core offerings are fee-free everyday transaction accounts with Visa Debit cards, a high-interest online savings account (Flex Saver at 5.05% p.a.), and residential mortgage lending (variable and fixed home loans with no ongoing fees and a 100% offset account). The portfolio is intentionally narrow, with the same competitive rates offered to owner-occupiers and investors and no physical branches.

Product overview

Easy Street is an online-only division of Community First Credit Union (operating since 2004), offering a streamlined portfolio of digital banking products centred on everyday transaction accounts, high-interest savings (Flex Saver), and residential mortgage lending (variable and fixed home loans). The offering is delivered exclusively via Internet Banking, a mobile banking app, and phone — there are no physical branches. Core products include the Everyday Account (fee-free Visa Debit), Flex Saver Account (5.05% p.a. variable savings), Street Smart Variable Home Loan (including a promotional 5.99% rate), and Fixed Home Loan (1/2/3-year terms). Supplementary offerings include FASTRefi (streamlined refinancing), Deposit Bond (third-party deposit alternative), and a suite of online calculators. The product lineup is intentionally narrow — the company positions itself on competitive rates and low fees, with the same rates offered to owner-occupiers and investors alike. Several products have been retired (Easy Low Rate Credit Card, Bonus Saver Account, Fixed Personal Loan, Easy Savings Account) and remain available only to existing holders.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Flex Saver account offers 5.05% p.a. variable interest rate on balances up to $3 million
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• Deposit AssureminorChannel Partner/ Reseller/ DistributorReferral agreement where Easy Street refers customers to Deposit Assure for deposit bond products. Deposit bonds help customers purchase property without immediate cash access to deposit, payable at settlement.
• BankStatements.com.aucoreTechnology or IntegrationTrusted secure online platform for transmitting bank statements during loan applications. Used by many of Australia's largest financial institutions. Provides faster verification, reduces paper waste, enhances fraud mitigation.
• VisacoreTechnology or IntegrationVisa debit card network for card transactions. Provides Click to Pay, Visa Secure, and eftpos Secure fraud prevention services. Tokenisation for secure digital payments.
• Osko/BPAYcoreTechnology or IntegrationNear real-time payment service on New Payments Platform (NPP). Enables 24/7 payments between participating financial institutions in seconds.
• Apple PaycoreTechnology or IntegrationMobile payment integration allowing Apple device users to pay using Easy Street cards.
• Google PaycoreTechnology or IntegrationMobile payment integration allowing Android device users to pay using Easy Street cards.
• Samsung PaycoreTechnology or IntegrationMobile payment integration allowing Samsung device users to pay using Easy Street cards.
• VigilcoreTechnology or IntegrationFraud monitoring service that may contact customers regarding activity or to confirm transactions on accounts.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Volt Bank: Australian digital-only neobank offering transaction and savings accounts via a mobile app with no fees. Direct peer in the branchless, app-first category targeting the same digitally native consumer base.
• ING Australia: Major digital-first bank in Australia offering fee-free everyday accounts, high-interest savings (Savings Maximiser), and competitive mortgages via a no-branch model. Direct competitor on rate-led value proposition and self-serve mobile experience.
• Judo Bank: Australian challenger bank with a relationship-based lending model and digital platform, listed on the ASX. Comparable as an Australian non-major bank pursuing digital and customer-focused banking, though Judo is more SME-skewed.
• Athena Home Loans: Australian digital mortgage specialist offering variable and fixed home loans with offset accounts and a streamlined online application. Direct competitor in Easy Street's flagship product category, with similar value-propounding simplicity and no ongoing fees.
• UP (Bendigo and Adelaide Bank): Australian digital-only bank targeting savers and home loan customers with a mobile-first app, no monthly fees, and competitive savings rates. Closest direct analogue to Easy Street's branchless, customer-friendly positioning in the same Australian retail market.
• UBank: NAB-owned digital bank offering online savings accounts and home loans with no ongoing fees and streamlined digital onboarding. Direct peer competing for the same rate-sensitive, branch-averse Australian consumer segment.
• Tic:Toc: Australian fintech lender using automated underwriting to deliver fast, fee-free home loans via a fully digital experience. Direct peer competing for online mortgage customers with a similar tech-led, branchless delivery model.
• ME Bank: Australian member-owned bank (now part of Bank of Queensland Group) operating a digital-first model with competitive home loans, savings accounts, and transaction banking. Closely comparable on mutual/customer-owned positioning and online-only distribution.

Broad incumbents

• Tyro Payments: ASX-listed Australian fintech providing merchant payments and lending products to SMEs. Comparable as a digitally native Australian financial services player with overlapping payments infrastructure, though SME-focused rather than retail consumer.
• RAMS Financial Group: Australian mortgage-focused lender (formerly Westpac-owned) offering home loans with a streamlined online application and offset features. Comparable in mortgage-product specialisation and offset-led proposition, though broader distribution channels.

Market position

Weaknesses5 records

Competitive moat4 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

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 Easy Street