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Connexus : Issue 36
figures released in March. Over the same period, the banks' resident assets grew 4.4 per cent. In February this year, the ABS results showed building societies and credit unions were w riting 10.4 per cent of new owner- occupied home loans in Australia -- up from 6.7 per cent two years ago. The figures confirm trends highlighted in KPMG's Building Societies and Credit Unions 2010 sur vey. Underlying profitability rose 34 per cent for building societies and 37 per cent for credit unions, with each group registering asset growth of about 6 per cent. Abacus head of public affairs Mark Degotardi says the figures are heartening. "It's a significant result. Growth in new lending has been outstripping the banks by almost two to one. That's a great result for our industry and clearly comes on the back of customer dissatisfaction about the CBA and other banks raising interest rates late last year." Sustained media and government criticism of the banks over service deficiencies and interest rate hikes has emboldened some customers to change financial institutions, says Degotardi. "People aren't just whinging about the banks. They are actually doing something about it." The imperative is for mutuals to stay at the centre of the banking competition debate and to continue presenting their product offering strongly to the public, even if media interest wanes, he says. "Our industry understands the challenge. A quarter of good results is terrific, but sustained growth is what we want." FEATURE FUNDING connexus www.abacus.org.au 26 "People aren't just whinging about the banks. They are actually doing something about it." -- Abacus head of public affairs Mark Degotardi ARE YOU GETTING VALUE FOR MONEY WITH YOUR CURRENT CUSTOMER/EMPLOYEE SURVEY PROVIDER? "The ser vice provided by all Quantum staff was exceptional. All staff were professional and responsive to my needs at all times. Congratulations." Helen O'Reilly Head of Human Resources Teachers' Credit Union Quantum's paper 'Attracting & Retaining Top Talent through Great Employer Branding' is available by contacting Dr Des Tubridy on: (03) 9249 9570 or email: firstname.lastname@example.org 7 good reasons to switch to Quantum Extensive Mutual Sector experience Good cost control and price-aware Flexible, relevant surveys, based on your requirements Strong service orientation and approachable Your projects are strongly supported end-to-end Free review of your current survey to make simplifications Free integration of your previous data results to maintain continuity ENGAGEMENT | CULTURE | EFFECTIVENESS Visit us! www.qmisurveys.com.au