TCU backs fifth banking pillar plan

Our move towards becoming a mutual bank was covered by an article in The West Australian published on 12th October 2011.

The article looks at how the mutual sector and non-banks have gradually been reclaiming market share from the big banks over the last 18 months. This is supported by Australian Prudential Regulation Authority figures showing that home loan balances of non-banks grew at a faster rate than major lenders during the June quarter. However the Big Four’s share of home loans remaining close to 85 per cent.

The article quoted Steve James, our CEO, saying that becoming a mutual bank would give us the opportunity to access cheaper funding and attract more members in the education community.

>View the complete article here