Question 1

What is Easy Street?

Accepted Answer

Easy Street is an online-only banking division of Community First Credit Union Limited, providing simple, value-focused banking products to Australians nationwide. Operating without physical branches, Easy Street leverages digital technology to offer competitive rates and low fees by reducing overhead costs and passing savings to customers. The bank serves Australians seeking straightforward banking solutions through online and telephone channels.

Question 2

When was Easy Street founded?

Accepted Answer

Easy Street was established in 2004 as a division of Community First Credit Union Limited, which itself was founded in 1959. Easy Street was created to provide a digital-first banking alternative for customers who prefer online banking without the need for branch visits. The division represents Community First Credit Union's commitment to innovation and expanding access to member-owned banking through digital channels.

Question 3

Where is Easy Street headquartered?

Accepted Answer

Easy Street is headquartered in Auburn, Sydney, New South Wales (Level 2, 67-73 St Hilliers Road, Auburn NSW 2144), sharing facilities with its parent organization Community First Credit Union. The contact centre operates from Sydney, providing telephone support to members across Australia.

Question 4

Where does Easy Street operate?

Accepted Answer

Easy Street operates throughout Australia as a digital-only bank, serving customers in all states and territories through online banking platforms, mobile applications, and telephone banking. Without physical branches, Easy Street is accessible to Australians nationwide regardless of location, providing 24/7 digital banking services.

Question 5

What services does Easy Street offer?

Accepted Answer

Easy Street offers a range of banking products including savings accounts, transaction accounts, term deposits, home loans, personal loans, car loans, and credit cards. The bank provides comprehensive digital services through internet banking, a mobile banking app (available on iOS and Android with features for account viewing, fund transfers, BPAY payments, PayID management, and card controls), Osko fast payments, and telephone banking with NSW-based customer service representatives. Loan products include options for first home buyers, property investors, upgraders, and refinancers, with features such as offset accounts, redraw facilities, and flexible repayment schedules (weekly, fortnightly, or monthly). The bank allows parent guarantors on some home loans and offers loans with low deposit requirements.

Question 6

What makes Easy Street unique?

Accepted Answer

Easy Street's exclusively digital model eliminates branch overhead costs, enabling the bank to offer better interest rates and lower fees compared to traditional branch-based banks. As a division of Community First Credit Union, Easy Street operates under the member-owned banking model where the institution is run for member benefit rather than external shareholder profit. All deposits up to $250,000 are guaranteed by the Australian Government's Financial Claims Scheme. Community First Credit Union holds over $1 billion in assets and has more than 60 years of banking experience, providing Easy Street customers with the stability of an established institution combined with digital innovation and competitive pricing.

Question 7

What type of financial institution is Easy Street?

Accepted Answer

Easy Street operates as a division of Community First Credit Union Limited (ABN 80 087 649 938), which is an Authorised Deposit-taking Institution (ADI) regulated by the Australian Prudential Regulation Authority (APRA). Community First Credit Union holds an Australian Financial Services Licence (AFSL) and Australian Credit Licence (231204). As part of a member-owned credit union, Easy Street functions as a customer-owned bank providing retail banking services through digital channels, meeting the same regulatory standards as traditional banks while maintaining the mutual ownership structure characteristic of Australian credit unions.

Easy Street

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About Easy Street in Australia