HomeView 2016 Media ReleasesNew figures show growing customer owned banking model

The latest figures on banking have revealed more Australian families taking out home loans with the customer owned banking model.

The latest figures on banking have revealed more Australian families taking out home loans with the customer owned banking model.

APRA and RBA figures show the customer owned banking sector significantly outpaced the market in home loan balance growth over the March 2016 quarter.

Customer owned institutions had double the housing loan growth rate of the largest four banks in the market.

“These figures are encouraging because they indicate Australians are alive to the benefits that customer owned banking offers,” COBA CEO Mark Degotardi said.

“People are looking at our model favourably because we offer competition and choice, diversity and a genuine alternative.

“Collectively we are closing in on $100 billion in assets as a sector and these results show the customer owned model is innovative, growing and has a bright long term future.

“Customer owned institutions have a proud history and are using these foundations and community links built up over time to develop exciting pathways for growth.

“The figures show we are on the right path and will help us continue to deliver a banking experience that is better for all.”

Media Release294.3 KB

For more information please contact:

Daniel McDougall, Senior Manager – Media and Communication

02 8035 8444 or 0407 637 541, This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Customer Owned Banking Association is the industry body for credit unions, building societies, mutual banks and friendly societies.  See coba3.nexusone.com.au

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Media Contacts

Mick Gibb
Corporate Affairs Manager
P: +61 2 8035 8444
M: +61 423 149 494
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