Credit union beats majors in growth

by Caroline Dann18 Oct 2012

Credit union Gateway claims its mortgage book has grown faster than the majors ‘and most other lenders’ over the past year.

It recorded a 21.3% growth over the 12 months to June 2012, which is four times higher than the industry’s average growth rate of 5.1%.
Gateway also achieved its highest level of member satisfaction during the 12-month period, at 95%.
Paul Thomas, Gateway’s CEO, said the lender’s success was a “tangible demonstration” of the shift in borrower sentiment, away from the majors and towards alternatives.
“We live at a time and in a world where people are craving for personal connection. Service is a key differentiator here and this is where credit unions come to the fore,” he said.