Building Society

• Ian Rogers

Growing well above system, The Mutual Bank in Maitland grew its expense line even faster over the year to June 2023. read more

• John Kavanagh

Two new mutual banks, each with assets of more than A$20 billion, start trading today, with the official completion of the mergers of Newcastle Permanent Building Society and Greater Bank, and Heritag.. read more

An article in Monday’s edition of Banking Day, More mortgage lenders in runoff, stated that Newcastle Permanent Building Society’s home loan book was in runoff. This was incorrect. Newcastle Permanent.. read more

• John Kavanagh

Newcastle Permanent Building Society and Greater Bank members have voted in favour of the proposed merger of the two mutuals. read more

• John Kavanagh

Newcastle Permanent Building Society and Greater Bank opened the voting on their proposed merger yesterday, with members able to vote using a ballot paper included in an information pack, online or us.. read more

• John Kavanagh

Treasurer Jim Chalmers has approved two proposed mergers of mutuals – Heritage Bank with People’s Choice Credit Union, and Greater Bank with Newcastle Permanent Building Society. read more

• John Kavanagh

Newcastle Permanent Building Society has resorted to buying loans to generate growth in assets, as it tries to deal with an issue affecting a number of ADIs currently – deposit growing faster than loa.. read more

• Ian Rogers

Newcastle Permanent Building Society and Greater Bank may finally forge a merger, in the process forming the largest mutual bank in Australia with $19.8 billion in assets. read more

• Ian Rogers

The level of mortgages deferred “is reducing month on month” at Newcastle Permanent Building Society. read more

• Banking Day staff

At the sole remaining building society in Australia, the majority of board members are now female. read more

• Bernard Kellerman

Newcastle Permanent's annual results for FY2019, show the mutual's net after-tax profits dropped almost 20 per cent, compared to its prior FY2017/18 year. read more

• Ian Rogers

Heritage Bank will "do the right thing" by its depositor members for as long as it can afford to, says Peter Lock, the mutual bank's CEO. read more

• Banking Day staff

Bernadette Inglis, formerly with Westpac, will begin settling into her new role as CEO of Newcastle Permanent Building Society this morning. read more

• Ian Rogers

As term deposit interest rates tumble, Newcastle Permanent Building Society says it is ready to take on the big banks. read more

• John Kavanagh

The ABA has "not yet reached a view" on changing the definition of small business.The Hayne royal commission recommended that the definition of small business in the industry code of practice be amend.. read more

• Banking Day staff

Maitland Mutual Building Society plans to rename itself as "The Mutual Bank" early next year. read more

• Ian Rogers

Bank dividends will be cut - even suspended.The chronic shortfall in capital around banking, in Australia and New Zealand, the RBNZ have finally called this out.How much capital is enough? Find out at.. read more

• Banking Day staff

Paul Lahiff, the chair of NPP Australia is leaving for a new job in banking, and celebrating - at Sibos - scrappy data on the take-up of PayID's and the number and value of Osko payments. read more

• Bernard Kellerman

Newcastle Permanent's annual result of A$43.8 million net profit after tax (as at 30 June 2018) was up 12.4 per cent on the prior year, courtesy of some of the best customer metrics in the retail bank.. read more

• George Lekakis

Australia Post has confirmed that mutual banks and credit unions will not have to pay an annual "community representation fee" to participate in the Bank@Post banking service, but will potentially fac.. read more