Bulletin 13 – Mutuals Banking sector strong and prudent

The Reserve Bank’s Financial Stability Review out today provides further confirmation that credit unions and building societies have the competitive potential to become the missing ‘fifth pillar’ in retail banking. 

“The RBA’s Review shows that credit unions and building societies are more strongly capitalised than banks, have much lower non-performing loan ratios than banks, and have increased their share of the home lending market,” said Abacus – Australian Mutuals CEO Louise Petschler. 

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