Members Equity Bank Limited, operating as ME Bank is a bank

Bank

A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...

 based in Melbourne Australia, focuses on low cost, no frills banking products. Members Equity is owned by Industry Super Holdings.

History and development

Launched in 1994 by National Mutual as SMHL (Super Member Home Loans), the early priority was on providing home loans to Australians belonging to industry superannuation funds. The organisation was renamed to Members Equity Bank in 1999 and received their banking licence from Australian Prudential Regulation Authority

Australian Prudential Regulation Authority

The Australian Prudential Regulation Authority is a statutory authority and the prudential regulator of the Australian financial services industry.-Regulatory scope:...

in July 2001.