CUA has re-embraced brokers after a post-GFC hiatus, and will now lend via Mortgage Choice and Smartline.
As previously reported by Australian Broker, CUA said it had been looking to return to broker distribution for some time, but that market volatility in the recent past had delayed the leap.
However, group general manager Darrin Northey said the move was necessary due to broker market power.
"Given around one in four homebuyers seek out a home loan via a broker, CUA’s re-entry into the network means we will be expanding the reach of our products to a greater potential audience," he said.
Prior to the GFC, CUA distributed between 30-35% of its home loans via brokers.
General manager of strategy and marketing, Andrew Hadley, previously told Australian Broker that with 40% of the market dominated by brokers, CUA was playing in a "smaller pond" without them.
'Volatility' delays CUA broker return
CUA forsees broker channel return