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Credit Unions grab home loan market share
16 December 2009 |
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| The beginnings of a recovery in profit are under way for credit unions after a difficult financial year, quarterly data prepared by the Australian Prudential Regulation Authority shows.Aggregate profit for credit unions in the September 2009 quarter was $67.9 million, up from $25.3 million in the June 2009 quarter and roughly in line with quarterly sector profits during the year of the original credit crunch of 2007/08, before the financial crisis hit with force.Balance sheet growth for the sector is not bad, though still well behind that enjoyed by banks.Home loan growth for Australia’s 114 credit unions was 11 per cent over the year to September 2009, which is ahead of growth in housing credit overall, given the reduced lending from non-bank entities.The sector recorded growth in deposits of 10 per cent over the year to September 2009, with a slight weighting to growth in term deposits over the full year. This has eased, with growth in at-call deposits more prominent recently. |
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| Source : The Sheet |
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| 24 December 2009 | - Banks giving rate discounts |
| | - Companion cards all the rage |
| | - Dual cards rack up rewards points |
| | - USaver promises to have highest rates |
| | - Small biz owners fight equipment lease scam |
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| 23 December 2009 | - Aussie Post denies banking ambitions |
| | - Longest balance transfer offer ever |
| | - ANZ paying bonus rates now |
| | - Credit Suisse wants to grow in Australia |
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| 22 December 2009 | - No doom and gloom for property in 2010 |
| | - Property market strong at xmas time |
| | - Use interest free to avoid debt hangover |
| | - TD rates at all time highs |
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| 21 December 2009 | - Consumers choosing the savings button |
| | - ME Bank ratings up |
| | - Half want to switch loans |
| | - Rate rise fears ease |
| | - Three years hard labour says Kelly |
| | - Strong auction results to finish the year |
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| 18 December 2009 | - Credit unions are safe and competitive |
| | - Credit unions expand ATM network |
| | - Inquiry into small biz lending coming soon |
| | - NAB to become king of super |
| | - Bridging and short term loans available now |
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| 17 December 2009 | - Competition is back - the game is on |
| | - Non-bank lending to return in 2010 |
| | - Abbott says re-regulate the banks |
| | - Westpac defends rate rise |
| | - Flighty depositors are a risk for banks |
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| 16 December 2009 | - RBA tipped to hit pause on rate rises |
| | - Rate rise pause won’t last long |
| | - Victoria driving housing boom |
| | - Kelly inflicts brand damage on Westpac |
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| 15 December 2009 | - Lenders use dirty tricks to keep borrowers |
| | - Westpac borrowers face high fees to exit loans |
| | - No Westpac borrower will lose their home |
| | - Westpac not the Jetstar of banking |
| | - Bank brands gain value, except NAB |
| | - Personal loans better for debt consolidation |
| | - Super funds to get simpler |
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| 14 December 2009 | - Banks doing deals on deposits and loans |
| | - Blue collar suburbs going upmarket |
| | - Westpac CEO under pressure over rate rises |
| | - Govt abandons underquoting ban |
| | - Melbourne, Sydney auction results up again |
| | - Sydney, Melbourne lead property recovery |
| | - Property – still time to grab a bargain |
| | - One billion dollars of property sold in Melbourne |
| | - Ratings outlook downgraded for Rabobank’s AAA |
| | - Choose term deposits wisely |
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| 11 December 2009 | - Fourth rate rise due in February |
| | - Opposition threatens the banks |
| | - Teachers CU undercuts RBA rate rises |
| | - Home loans under six per cent |
| | - Term deposits rates not sustainable – get in now |
| | - Low fee, low rate Visa with rewards |
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| 10 December 2009 | - Confidence falls as rates go up |
| | - 1 in 100 behind on their mortgage |
| | - Home building boom coming in 2010 |
| | - Suncorp and Bendigo join ATM networks |
| | - Debit card fraud reaps big profits |
| | - Extra pass codes can defeat card fraud |
| | - ANZ aims to be number one farm lender |
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| 09 December 2009 | - Investors still paying sales commissions |
| | - Mortgage interest rates to hit 8.5pc |
| | - Home lending surges up |
| | - Term deposits – time is right to invest |
| | - Credit cards to get more secure |
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| 08 December 2009 | - Bendigo raises mortgage rates |
| | - Customers not just another number at Bendigo |
| | - St George raises rates by 0.39pc |
| | - Westpac focused on service, not price |
| | - Westpac boss avoids big rate hike |
| | - 50,000 Westpac customers in debt trouble |
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| 07 December 2009 | - NAB mortgagees $30 better off |
| | - Commonwealth and ANZ jack up rates |
| | - Auction clearances slow down for Christmas |
| | - Melbourne leads property boom times |
| | - Plan for Christmas card debt now |
| | - Term deposit with cricket tickets |
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| 04 December 2009 | - NAB toes the RBA line |
| | - NAB declares mortgage war on Westpac |
| | - Ubank jumps ahead in 1 year term deposits |
| | - Westpac all alone with rate rises |
| | - Mortgages just keep getting bigger |
| | - Property investors emerge from gloom |
| | - Westpac executives reward themselves |
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| 03 December 2009 | - NAB does the right thing |
| | - Banks set the new rate setters |
| | - Banks holding fire on rates |
| | - Rate rise nets $230M for Westpac |
| | - Anger building against Westpac |
| | - ME Bank is building a branch network |
| | - Salary package a new car with ME |
| | - Bouris returning to mortgages |
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| 02 December 2009 | - Deposit rates are historically high |
| | - Westpac gives borrowers a slap in the face |
| | - Westpac puts rates up across the board |
| | - RBA may hold rates here |
| | - House prices going up but due to fall back |
| | - Aussie property not expensive |
| | - Sydney Melbourne house prices outperforming |
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| 01 December 2009 | - Westpac borrowers jipped an extra 0.20% |
| | - Mortgage market still dominated by Westpac, CBA |
| | - Deposits flowing to NAB |
| | - Banks focus on small business |
| | - CBA streamlines small biz lending |
| | - D-Day for Latrobe Credit Co-op members |
| | - Aussie banks face Dubai debt defaults |
| | - Westpac borrowers jipped an extra 20 basis points |
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