Customer owned banks shine brightly in 2020 Mozo Experts Choice Home Loan Awards

By Tom Watson · · 3 min read
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Australia’s customer owned banks have been revealed to be among the biggest winners in the recently announced 2020 Mozo Experts Choice Home Loan Awards which aim to shine a spotlight on some of the best home loans in the country. 

Customer owned institutions punched above their weight taking home an impressive 20% of the awards on offer and performing particularly well in the First Home Buyer Loan, Packaged Home Loan and Fixed Home Loan award categories. 

Among the 2020 Mozo Experts Choice Award winners were Customer Owned Banking Association members Bank Australia, Credit Union SA, G&C Mutual Bank, Greater Bank, Illawarra Credit Union, P&N Bank, Qudos Bank and RACQ Bank. 

“In order to determine this year's winners we analysed 436 home loan products from 86 different Australian lenders, recognising the best home loans in 13 seperate awards categories,” said Expert Judge, Peter Marshall. 

“The sheer size of that field demonstrates how difficult it is to be named an award winner, which just goes to show the great value being offered by some of Australia’s customer owned institutions when it comes to home loans.” 

RELATED: Bank Australia wins best Green Home Loan in the 2020 Mozo Experts Choice Awards

So which customer owned institutions were among the standout winners in this year's awards? Here are some of the lenders that really impressed our expert judges. 

Qudos Bank

Sydney-based Qudos Bank, formally Qantas Credit Union, were among the most celebrated winners in the 2020 Mozo Experts Choice Home Loan Awards, taking out wins in an impressive four different categories. 

The Qudos Bank Fixed Rate Home Loan was named a winner in the Investor Fixed Home Loan and Fixed Home Loan categories, while the Low Cost Home Loan Value Package took out an award for best Packaged Home Loan. 

Meanwhile, the Qudos Bank No Frills Home Loan and Fixed Rate Home Loan were jointly awarded a prize in the Best Split Home Loan category.

Qudos Bank are no strangers to the Mozo Experts Choice Awards, having previously picked up major award titles including Australia's Best Small Bank (2018) and Home Loan Bank of the Year (2017).

G&C Mutual Bank 

Having already picked up a number of Mozo Experts Choice Awards in the past year - for their Low Rate Credit Card, Unsecured Personal Loan and Used Car Loan - G&C Mutual Bank continued their winning streak with three separate 2020 Mozo Experts Choice Home Loan Awards. 

The G&C Mutual Bank First Home Loan Premium Package certainly impressed the Mozo judges, as it took home awards for Best Offset Home Loan as well as Best First Home Buyer Loan. 

It was also named a winner in the Split Home Loan Award category in conjunction with the G&C Mutual Bank 1 Year Fixed Rate Home Loan.

Credit Union SA

As a perennial award winner which has previously been recognised for everything from its great value car loan (2019) to its excellent banking app (2019), Credit Union SA has added further silverware to its trophy cabinet with a victory in the 2020 Mozo Experts Choice Home Loans Awards. 

That came in the form of a 2020 Best Packaged Home Loan Award which was awarded to Credit Union SA for its Variable Rate Home Loan Special Offer Package - one of just a handful of winners in the category.

RELATED: 2020 Mozo Experts Choice Home Loan Award winners announced

Ready to see how these customer owned award winners stack up against some of the other best home loans in Australia? Then head over to our 2020 Mozo Experts Choice Award page for a full list of winners, categories and a copy of the methodology report.

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Last updated 27 July 2024 Important disclosures and comparison rate warning*

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    Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.

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    6.13 % p.a.
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    Lock in a competitive interest rate and enjoy peace of mind for the fixed period. Available for owner occupied new and refinanced home loans with at least 20% deposit. Split option available as well as offset and redraw. Noapplication, ongoing or banking fees. Third Party fees may be applicable - payable within loan repayments. Extra repayments up to $20K per annum permitted. Apply online, 100% member owned credit union.

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    • Owner Occupier
    • LVR <80%
    Interest rate
    5.99 % p.a.
    Variable
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    5.90 % p.a.
    Initial monthly repayment
    $2,995
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    Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.

  • OMG Home Loan

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    6.02 % p.a.
    Initial monthly repayment
    $2,995
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    BCU Bank’s OMG owner occupied home loan offers a variety of great low rates depending on your deposit. Save with no ongoing annual fees. Access your extra payments when you need to through the redraw facility. Pre-approval valid for 3 months.

  • Flex Home Loan

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    Interest rate
    5.99 % p.a.
    Fixed 3 years
    Comparison rate
    6.34 % p.a.
    Initial monthly repayment
    $2,995
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    Competitive Fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.

  • Express Home Loan

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    6.01 % p.a.
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    6.14 % p.a.
    Initial monthly repayment
    $3,001
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    Get online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.

  • Neat Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.11 % p.a.
    Initial monthly repayment
    $3,027
    Go to site

    Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.

  • Special Real Deal Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <80%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.13 % p.a.
    Initial monthly repayment
    $3,027
    Go to site

    Refinancers or first home buyers pay no monthly or annual fees. Up to $3,000 cashback when you complete your home loan application online. $2,000 cashback on loans ≥$250K; or $3,000 cashback on loans ≥$500K. LVR ≤80%. T&Cs and credit criteria apply.

  • Basic Home Loan

    • Owner Occupier
    • LVR<60%
    • Principal & Interest
    Interest rate
    6.14 % p.a.
    Variable
    Comparison rate
    6.16 % p.a.
    Initial monthly repayment
    $3,043
    Go to site

    Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.

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    • Owner Occupier
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    • LVR <60%
    Interest rate
    6.14 % p.a.
    Variable
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    6.38 % p.a.
    Initial monthly repayment
    $3,043
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    Competitive variable rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.

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    6.14 % p.a.
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    6.39 % p.a.
    Initial monthly repayment
    $3,043
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    Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.

  • Basic Home Loan

    • Fixed
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    • LVR<70%
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    6.25 % p.a.
    Fixed 3 years
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    6.20 % p.a.
    Initial monthly repayment
    $3,079
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    • Fixed
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    Interest rate
    6.25 % p.a.
    Fixed 3 years
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    6.42 % p.a.
    Initial monthly repayment
    $3,079
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  • Fixed Rate

    • Owner Occupier
    • Principal & Interest
    • <80% LVR
    Interest rate
    6.54 % p.a.
    Fixed 2 years
    Comparison rate
    7.10 % p.a.
    Initial monthly repayment
    $3,174

    Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.

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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

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While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.

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