Australian Central Credit Union has added a broking arm to its operations, offering home loans from other lenders as well as its own mortgage products.

“This is a major change in the way we operate,” said managing director Peter Evers. “Mortgages make up a large percentage of our business, but it boils down to Australian Central practising what we preach.

“We recognise consumers are now looking for options, so we’re responding to their needs.”

This new business model has been two years in the planning and has been trialled for several months in South Australia, the Northern Territory and Western Australia, with good results.

To support this new venture, four new banking centres and two new specialist advice centres opened recently in South Australia, and a further 18 new sites will be built over the next three years across South Australia, the Northern Territory and Western Australia.

The new, wider range of mortgage products is one of the latest developments in a major strategic shift for Australian Central – moving further towards a model that is more advice-based.

“As part of the strategy shift, members now receive specialist advice on home loans, wealth management and banking products – from different individuals who specialise in each area,” Evers said.