Non-bank celebrates four decades in business

Founder attributes success to placing sustainable growth ahead of short-term profit

Non-bank celebrates four decades in business


By Duffie Osental

One of Australia’s oldest non-bank lenders just celebrated 40 years in business with a gala dinner in Brisbane.

Firstmac founder, Kim Cannon, told the 400 guests in attendance that the company had found its success through innovation, hard work, and family – as well as long-term vision that placed sustainable growth ahead of short-term profits.

“Some businesses live to make a profit first and their business culture suffers,” said Cannon.

“We have an attitude – build it well and profits will come as a result of a great business.”

Cannon also said that a key difference with Firstmac’s culture was that it understands the importance of enjoying oneself while working.

“Have fun at work and at play, is our approach,” he said.

“Work hard, play hard. [And] everyone knows we have the best parties - including the Firstmac afterparty!”

The anniversary event was emceed by Australian poet Rupert McCall, who also recited a poem he wrote entitled Forty Years of Firstmac.

In addition to completing its fourth decade of growth in the home lending industry this year, Firstmac also celebrated becoming Australia’s 14th biggest lender, having recently passed $12bn in loans under management.

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