Mutual lender receives best non-major title

by Maya Breen25 May 2015

Mutual lender CUA became the Australian financial Institution of the Year (non big four) and the joint winner of Mutual of the Year with Beyond Bank, at the AB+F Awards in Sydney.

CUA chief financial officer Tony Taylor said this was the first time CUA had won the Financial Institution of the Year and second year in a row winning the Mutual of the Year.

Taylor and CUA’s general manager of sales, Andy Rigg, both paid tribute to CUA founder Jack Harvey in their acceptance speech, who passed away on the 15 May 2015.

“These two awards mean a lot to CUA,” Taylor said. “CUA is not a bank and we’re proud of our mutuality. We exist for our customers, which means we can give back to them in the form of better rates and lower fees.

He said CUA has invested in research, staff training, technology and product innovations to increase their customer experience.

 “Enriching lives also goes far beyond our customers. We have a strong commitment to community projects, both regional and national, through our CUA Community Care school grants and our partnership with SIDS and Kids, which allows us to invest in making a difference in local communities and charities.”

 In the last year, Taylor said CUA passed $11.5 billion in consolidated assets and hit a record $1.8 billion in new loans for the first half of FY2015, up almost 75 per cent on lending for the corresponding six months in the previous year.