Super fund opens new shopfront

HOSTPLUS and ME Bank will open a full service retail branch on the Gold Coast later this year, which will enable the fund to better educate its members and provide services at a more intimate community level, it has been announced.

“This is an important initiative because for many people superannuation is seen as a complex product and until now, our participating employers and members have not had a face-to-face environment in which to interact with their fund,” said David Elia, chief executive of HOSTPLUS.

“The partnership … positions HOSTPLUS as the only industry super fund to offer face-to-face services in a retail setting of this nature,” he continued.

ME Bank’s acting chief executive Nick Vamvakas said: “ME Bank has been specifically created to provide everyday Australians with innovative, low-cost banking services. This venture with HOSTPLUS will provide our members with additional financial services in a welcoming and professional environment.”

Independent research commissioned by HOSTPLUS showed that face-to-face personal contact provides the highest level of service and is the preferred method of communication for people with long-term investments, the company said. The research also suggests that members prefer to use a multi-channel approach to managing their finances.

“HOSTPLUS took the important step of bringing its call centre in-house … the co-branded outlet with ME Bank is a natural extension of this,” said Elia.