Bulletin 5 – Credit unions and building societies record double digit home loan growth

Official statistics released today by the Australian Prudential Regulation Authority (APRA) show double digit home loan growth for credit unions and building societies.

Total housing loans for credit unions grew by 10.8 per cent to $31.2 billion over the year to September. Total housing loans for building societies grew by 10.9 per cent to $15 billion.

“If you’re looking for genuine competition and choice in the home loan market, you will find it with credit unions and mutual building societies,” said Louise Petschler, CEO of Abacus – Australian Mutuals.

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