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Not all credit cards are created equally. And so it makes it that much harder to decide which credit card offer to choose. There are many factors you sh.....
Credit Unions increase deposits and lending 18 September 2009
Figures issued by the Australian Prudential Regulation Authority (APRA) show that credit unions increased housing loans by 10.3 per cent in the year to 30 June 2009. Credit unions had deposit growth of 11.7 per cent.The takeover of Home Building Society by Bank of Queensland is reflected in a small reduction in total housing loans by building societies.The charge for bad or doubtful debts was a very low 0.10 per cent for credit unions and a remarkable 0.04 per cent for building societies.“These figures prove yet again the resilience and strength of the mutual banking business model,” said Louise Petschler, CEO of Abacus - Australian Mutuals.“The reduction in net profit of 24 per cent for our sector compares well with the 43 per cent reduction experienced by regional banks. Credit unions and mutual building societies are entirely customer-focused and are not driven to maximise profits for external shareholders. This is reflected in our market-leading customer satisfaction ratings."
