Bank names new group executive

Online lender ME has appointed Craig Ralston as group executive of customer banking, effective as of 1 May. He will be responsible for ME’s product and service delivery, with a focus on improving the design, simplicity and fairness of the bank’s offerings.

Mr Ralston joined ME in February 2015 as head of strategy to enhance the bank’s strategic and business planning cycle.

In June 2015, he was promoted to group executive of service excellence, overseeing ME’s customer on-boarding and after-care.

Mr Ralston has also been acting in the role of chief information officer since December 2017.

Prior to joining the industry super fund-owned lender, Mr Ralston held several leadership roles at Bendigo and Adelaide Bank across a range of business functions, including technology, operations, customer service and retail sales.

ME “forced” to hike rates

The non-major lender recently lifted interest rates on its owner-occupied and investor loans by up to 16 basis points.

The regional bank claimed that it was “forced” to hike rates to offset increased funding costs.

“This was not an easy decision, but rising costs have forced us to reset prices to maintain a balance between borrowers, depositors and our industry super fund shareholders and their members, all while ensuring we continue to grow and provide a genuine long-term banking alternative,” ME CEO James McPhee said.

[Related: Bank ‘forced’ to hike interest rates]