As a co-operative bank founded by teachers over 50 years ago, Bank First remains committed to helping educators achieve their goals – including making home ownership a reality. 

Take Elizabeth, a secondary school teacher based in Melbourne. At 50, Elizabeth recently purchased her first home after years of saving. 

‘I’ve been saving for 15 years, but it hasn’t been an easy process. With only one income, it was very difficult to pay rent, live life and save for a 20% deposit. Things started to change during COVID when I could save a little more, but even then, I couldn’t have reached my goal without the Home Guarantee Scheme.’ 

Elizabeth’s story is one we hear often.  

For many teachers, buying a home can feel out of reach – especially when juggling the demands of their profession. Since 1996, home ownership rates for Australians aged 50–54 decreased by 8%. For those aged 25-34, the average decrease was almost double that (Australian Institute of Health and Welfare).  

That’s why we’re here – to make homeownership more achievable through tailored support, and programs like the Housing Australia Home Guarantee Scheme. 

After searching for over a year, Elizabeth found her perfect place – a three-bedroom unit with space for a garden, room for guests, and just around the corner from her elderly parents. 

‘And it’s the little things too... like being able to put my own stamp on my home without worrying about damaging walls or getting permission. I finally have a space I can make my own.’ 

Elizabeth is already looking ahead to remodelling her home and creating the garden she’s always dreamed of. For her, this milestone goes beyond just today. ‘This home gives me peace of mind for the future. When I’m gone, it’s something my nieces and nephews can benefit from. It feels good to know it’ll help them on their life journeys, too.’ 

As a member-owned bank, we do what we can for members like Elizabeth who are working to give their all for others.