ME, a brand and division of Bank of Queensland Limited (BOQ), offers ME Bank home loans. Industry superannuation funds founded ME in 1994 as a low-cost home lender. It later became a bank in its own right before BOQ bought it in 2021. It now operates under BOQ‘s banking licence as a digital bank with no branches.
This page is a factual profile to help borrowers understand who ME Bank is and where its home loans may fit. However, it is not a rating, a ranking or a recommendation.
ME Bank at a Glance
| Item | Detail |
|---|---|
| Lender type | Brand and division of Bank of Queensland Limited, an authorised deposit-taking institution |
| Owned by | Bank of Queensland Limited (BOQ Group), since July 2021 |
| Founded or established | 1994, by Australian industry superannuation funds |
| Regulated by | APRA, through BOQ’s ADI licence (ME handed back its own licence in 2022) |
| Home loans for | Owner-occupiers, investors and refinancers, including borrowers consolidating other debts |
Ownership and History of ME Bank
A group of industry superannuation funds set up ME in 1994 to give their members an alternative to the big banks for home loans. It later became Members Equity Bank, better known as ME Bank, and by 2021 it had 26 industry super fund owners and operated from Melbourne.
Then, in February 2021, Bank of Queensland announced it would buy ME Bank, and the acquisition completed on 1 July 2021, according to BOQ. ME joined BOQ Group alongside the BOQ and Virgin Money brands, and BOQ also committed to keeping the ME brand.
In early 2022 ME transferred its banking business to BOQ and handed back its own ADI licence. APRA then confirmed the revocation of Members Equity Bank Limited’s licence in March 2022. Since then ME has operated as a division of Bank of Queensland Limited, under BOQ’s licence, while keeping its own products, app and brand. It is still a digital bank with no branches, supported by phone and online.
Where ME Bank Home Loans May Suit
Overall, based on publicly available information, ME Bank home loans may be worth comparing for:
- Refinancers who want to tidy up other debts. ME describes topping up or refinancing a home loan to consolidate credit cards and personal loans, subject to lender criteria.
- Borrowers who like multiple offset accounts. For example, ME’s CompleteME package lets borrowers link up to 10 offset (SpendME) accounts to a variable loan.
- Borrowers comfortable with a fully digital bank. ME has no branches and instead manages loans through its app and phone support.
- Investors. ME offers investment loans with principal and interest or interest-only repayments.
- Borrowers who want to split between fixed and variable rates within one lender.
Home Loan Types ME Bank Offers
Public sources confirm that ME Bank offers the following. Product names and features change, so we check current details when you apply:
- Owner-occupied home loans (EconoME basic and CompleteME package products)
- Investment property loans
- Variable rate, fixed rate (one to five years) and split loans
- Principal and interest or interest-only repayments
- Up to 10 offset accounts on the CompleteME package, plus redraw on variable loans
- Refinancing, including loan top-ups to consolidate other debts
Getting an ME Bank Home Loan Through Ingram Financial
Of course, every lender has its own policies, processes and quirks, and they change often. Rather than working through them on your own, let Ingram Financial help you navigate the maze and compare ME Bank with the other lenders on our panel.
Shannon Ingram, our principal broker, compares ME Bank with the rest of the panel against your deposit, income, property and goals, then explains the options in plain English. We work from Bangor, NSW, serve the Sutherland Shire, and also help borrowers across Australia by phone and video.
Meanwhile, to see current ME Bank products, use the lender filter in our comparison tool. When you are ready, contact us for a free, no-obligation chat about whether ME Bank or another lender is the better fit.
ME Bank Home Loan FAQs
ME Bank is a brand and division of Bank of Queensland Limited, an authorised deposit-taking institution that APRA regulates. ME handed back its own banking licence in 2022, so it now operates under BOQ’s licence.
Bank of Queensland Limited has owned ME since 1 July 2021. Before that, ME belonged to the Australian industry superannuation funds that founded it in 1994.
No. ME is a digital bank. Customers manage their loans through the ME app and online banking, with phone support.
ME describes topping up or refinancing a home loan to pay out credit cards and personal loans, and independent sources also confirm borrowers can consolidate other debts into an ME home loan. However, approval depends on ME’s lending criteria and your situation.
Yes. ME Bank is also one of the lenders on the Ingram Financial panel, so Shannon Ingram can compare it with the other lenders we work with.
Ingram Financial has no ownership ties to ME Bank. ME Bank is simply one of the lenders on our panel. We checked the lender information on this page in September 2026. However, it may change, and the lender sets product availability, policies and eligibility criteria.
The information on this page is general in nature and does not take into account your objectives, financial situation or needs. Lending criteria, fees and charges apply. Consider whether it is appropriate for you and speak to us for advice specific to your situation.