The FBAA says it has experienced a strong year in membership growth, reporting a 32% net growth for the year. According to the association, this is the second consecutive year the association has seen such numbers.
FBAA chief Peter White
he past year has been about prioritising the issues that will really help members to grow their business. He told Australian Broker that the association currently reaches about 11,400 brokers nationally through its member base of about 3,800.
The FBAA has always been a “grass roots” association, according to White, and that the membership growth was especially pleasing because there is no mandatory requirement by any aggregator or lender to be an FBAA member.
“We are an association of choice, and our leadership structure has always been run by brokers with extensive industry experience and understanding.”
According to White, the FBAA strives to be the industry’s key point of contact with the government.
“I think the most significant role we play is the continued discussion and lobbying with government; working with MPs, regulators and industry representatives,” he said.
He also said the association wasn’t afraid to look at areas that have traditionally been difficult for the industry.
“We moved forward in the area of vendor finance this year, and we even entered into discussions with the consumer action law centre in order to build a stronger relationship,” White said.
“This is beneficial as more open dialogue on industry matters helps us both understand the other’s position.”
This year, White said the FBAA has worked hard launched efforts to “renew” the industry – such as partnering with MOGOCheck to speed up loan processing, announcing a scholarship program to attract young and new-to-industry brokers and building free mortgage calculators for members.
Looking ahead, the FBAA chief said the association has no plans to slow down.
“It will be a year of continued building. The challenges facing our members don’t stop and neither will we.”