MyState Bank originated in Tasmania, starting as a group of credit unions. It was established in 2009 through the merger of MyState Financial and the Tasmanian Perpetual Trustees.
Contrary to popular belief, MyState is not a customer-owned bank. Rather, in 2014, it became MyState Limited, a diversified financial services group listed on the Australian Securities Exchange (ASX).
Headquartered in Hobart, MyState Bank has expanded its services across Australia, focusing on digital banking solutions. Despite its Tasmanian roots, the bank has grown to serve customers nationwide, offering a wide range of financial products and services.
MyState’s primary retail banking verticals include home loans, term deposits, and savings accounts. With a focus on providing competitive rates and digital-first services, MyState has steadily built an asset portfolio worth over $8.4 billion. It has more than $6 billion in home loans on its books, and around $4.9 billion in customer deposits, according to APRA's banking data.
With a digital focus, customers can open accounts, manage their loans, transfer funds, and view their transaction history all through the MyState app or website.
Dedicated Australian-based support is also available via phone, email, and live chat, and for those who prefer in-person banking, the bank maintains seven branches in Tasmania: Hobart, Glenorchy, Kingston, Rosny, Launceston, Burnie and Devonport.
