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LUCRF Super invests in ME Bank's cash product
Industry super fund LUCRF Super has announced it is the first investor in ME Bank’s new Super Cash Management Account.
The ME Bank investment product operates within the government guarantee on deposits and provides a superior cash return, and is designed to maximise income for superannuation funds with minimal risk, according to LUCRF.
LUCRF Super chief executive Greg Sword said the ME Bank Super Cash Management Account is a positive step forward and creates a welcome layer of competition within the banking industry.
“We are proud to be the first investor in this new product as it complements our diversified investment strategy to provide growth and financial security for our superannuation and pension members. LUCRF views this decision as an ongoing commitment to ME Bank,” Sword said.
AUTHOR
Mike Taylor
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