Building Society In Australia

IMB

One of the biggest building societies in Australia is the IMB building Society. This building society has assets not less than $4.8 billion. This building society has 180,000 members. This building society was established back in 1880. This is also the longest standing building society in New South Wales. This building society gives full-service electronic banking facilities to their customers. This includes financial plannings, business banking, term deposit, transaction accounts, savings accounts, personal lending, home lending and a wade variety of insurance products. IMB has expanded its branch to places such as Melbourne, the ACT, NSW South Coast, Sydney and Illwara. This is done through ATM network and a mobile lending team. IMB also have broker groups to give their customers all around Australia commercial loans. The Australian Prudential Regulation Authority is responsible for regulating IMB. IMB is also a member of the ABACUS. IMB is an independent organization that represents the building societies in Australia.

Heritage

Heritage is one of the biggest building societies in Australia. Heritage was established back in 1875. The main aim of this building society is to fulfill the financial dreams of the Australians. This is an authorized deposit-taking institution which is under the Banking Act. This means it is the same with banks, credit unions and building societies. This is a mutual company which is independent owned by the members and not by the shareholders. This means this building society is not all about profit but to serve the people.

Newcastle Permanent

Newcastle Permanent is a mutual building society who focuses their profits to their members. They provide better interest rates, financial support and competitive fees. This building society was established back in 1903. This is one of the biggest building societies in Australia. This building society has a total asset of $6.8 billion. This building society provides a wide variety of financial services because it is a complete retail financial services provider. They have ATMS, branches and electronic banking services. This way, the members cn do their financial business in a more convenient and effective way.

CUA

CUA is one of the biggest financial institution in Australia. This financial institution is owned by the customers. This building society can provide banking products and financial services. This is a hundred percent owned by the customers which means the dividends will not go to the shareholders but it gets reinvested back into the business. This means the customers are the ones who will benefit and not the shareholders. They have an excellent customer service. This building society provides for 400,000 customers. This is why, they do the best to give the best for their customers. They aim to make the financial and banking services easier, more convenient and more effective for the customers.