Auswide Bank Ltd, formerly known as Wide Bay Australia, was Australia’s 10th bank listed and trading on the Australian Securities Exchange (ASX).[1]
Its head office is located in Bundaberg, Queensland. Auswide Bank has an asset base of over $5 billion.[2]
Overview
Auswide Bank has been around for over 55 years and has 16 branches located primarily across the Queensland east coast.
They provide personal banking products and services including loans, savings and investments, insurance, foreign exchange and banking services, with a focus on home ownership for everyday Australians.[3]
Auswide Bank has an Australian Credit Licence and an Australian Financial Services Licence issued by ASIC and is an Authorised Deposit-taking Institution prudentially supervised by the Australian Prudential Regulation Authority.[4]
History
A Wide Bay Australia branch pictured in 2014, prior to rebranding
Auswide Bank has its roots in the Bundaberg-based Burnett Permanent Building Society which was registered in April 1966 and became operational in August 1966. Burnett Permanent and the Maryborough Permanent Building Society amalgamated in 1979 to form Wide Bay Capricorn Building Society.[5]
Following further mergers with the Gympie and North Coast Building Society in 1981 and Gladstone-based Port Curtis Building Society in 1983, Wide Bay Capricorn Building Society Ltd listed on the ASX in 1994.[6]
The building society began to expand nationally, undergoing a name change in 2003 to become Wide Bay Australia Ltd.[7]
In 2008, Wide Bay Australia merged with the ASX-listed Mackay Permanent Building Society Limited.[8]
On 1 April 2015, Wide Bay Australia became Auswide Bank Ltd, and was Australia’s 10th and Queensland’s third Australian-owned bank that is listed and trading on the ASX.[9]
On 16 December 2015, Auswide Bank announced a partnership with peer-to-peer lender MoneyPlace, announcing both a 20% equity stake and funding of consumer lending.[10]
On 22 December 2015, Auswide Bank announced a merger with the Brisbane based Queensland Professional Credit Union (trading as Your Credit Union). The merger was completed on May 20, 2016.[11]
Bank Structure
The company’s corporate head office is located in Bundaberg, Queensland. A corporate office is also based in the Brisbane CBD.
Retail Banking
The retail banking channel provides financial services to personal and business banking customers via Auswide Bank branches, mobile lenders, phone and online.
Third Party
The third-party channel provides loans and associated financial services to customers via accredited mortgage brokers and introducers and deposits to customers via partnerships and deposit brokers.
Private Bank
The private banking channel offers one-on-one expertise with a private banking specialist to enhance and manage clients’ financial priorities and provide a range of financial solutions – from banking and deposits to borrowing and protection.
