Having given retail master trusts some heartburn with their ‘compare the pair’ choice of superannuation fund advertising campaign, industry superannuation funds are now trying the same concept in the banking arena.

Members Equity Bank – the financial institution owned and backed by industry superannuation funds – this week began an advertising campaign comparing its home loan rates to those being charged by the major banks.

Members Equity executive manager, workplace business, Tony Beck said the bank had adopted a similar approach to that of the industry superannuation funds by comparing its Super Member Variable Rate home loan to the average standard variable home loan of the four major banks.

“The home loan market is becoming increasingly competitive and consumers have many options to consider,” he said. “Members Equity believes consumers deserve to know the true cost of competing loans in order to make an informed decision.”

Beck said the campaign would run until November 26 and would encourage borrowers to carefully assess the true cost of their loan once fees and charges are included.