Bulletin 12 – Strong growth in home lending by mutual banking sector

Credit unions and building societies recorded double-digit growth in home lending in 2009 and have the competitive potential to become the missing ‘fifth pillar’ in the retail banking market. 

“What is needed is more Government action to promote competition – specifically, an effective public awareness campaign about the prudential regulatory framework and the prudential standing of all regulated banking institutions,” said Abacus CEO Louise Petschler. 

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