ME Bank’s Head of Network Distribution, Jim Giannakokopoulos, apologises for an error that has affect nurses and midwives.

In response to customer feedback ME Bank has decided to change back home loan redraw limits for any customers who want it. We are deeply sorry for the impact this has had on you and your members. We were trying to do the right thing, but we went about it the wrong way.

It’s time to put this right.

As you are aware, the bank recently made changes to some older, legacy home loan products which resulted in some customers having their redraw limit reduced. The bank acknowledges this was poorly communicated and has upset customers.We have set up a dedicated hotline for any customer who would like their redraw limits changed back or, if they prefer, they can request it online. At no point did the bank ‘remove funds from customer accounts’ or ‘transfer’ any customer funds.

Our priority now is to help, support and service our customers. We recognise that we need to do better, we can and we will.

We encourage you to direct your members to our hotline on 1300 654 997 or online activation form at mebank.com.au/changebackredraw if they wish to have their redraw limit changed back.

We are deeply sorry.