Mutual sector posts strong growth in home lending

29 November 2021

Strong homebuyer demand has spurred growth among mutual banks, building societies, and credit unions over the past year.

According to KPMG Australia’s Mutuals Industry Review 2021, residential lending across the mutual sector increased by 5.1% to $112.4bn during the FY2021.

Overall, the mutual sector managed to record a 38.6% growth in operating profit before tax to $685m and a 7.4% gain in total assets to $148.2bn. …

Business Council of Co-operatives and Mutuals CEO Melina Morrison said the results of the KPMG review underscore the importance of the sector to the national economy.

Read the full article, Mutual sector posts strong growth in home lending, on Your Mortgage, 26 November 2021

Latest news

14 December 2021

Co-ops could offer economic inclusion to indigenous Australians, says BCCM report

Perhaps out of this pandemic, co-ops will give new meaning, new opportunities, new aspiration and new goals for our companies, our people, our communities and our nation.
13 December 2021

Coota Co-op interviews on ABC NSW Country Hour

Our Meet the Farmers Podcast guest, Leigh Bowden, from The Cootamundra District Co-op has been interviewed on NSW Country Hour twice this month.
09 December 2021

Push for big business to boost Indigenous employment

The federal government is calling on big business to help boost Indigenous employment. Listen to Melina Morrison on RN Breakfast,