Non-major lender turns 50

by Julia Corderoy06 Apr 2016
Non-major lender Auswide Bank has celebrated half a century of providing banking and financial services this year. 

The lender’s 50th birthday also marks 12 months since the company rebranded from Wide Bay Australia to Auswide Bank.

Auswide Bank has its roots in the Burnett Permanent Building Society which was registered in April 1966 and became operational in Bundaberg in August 1966.

In 1979, Burnett Permanent amalgamated with the Maryborough Permanent Building Society to form Wide Bay Capricorn Building Society. Wide Bay Capricorn then amalgamated with the Gympie and North Coast Building Society in 1981 and the Gladstone-based Port Curtis Building Society in 1983. 

Wide Bay Capricorn changed its name to Wide Bay Australia in 2003 and in 2008 merged with the Mackay Permanent Building Society Limited. In April 1 2015, Wide Bay Australia relaunched as Auswide Bank.

With total assets of nearly $3 billion, the non-major has grown into a regional bank with branch distribution across Queensland and customers across Australia.

“After 50 years of weathering economic cycles, significant changes in community and society attitudes, massive changes in technology and communication, and countless other changes, I believe we are stronger, fitter and more capable than ever,” Auswide Bank managing director, Martin Barrett said.

“For our customers, our products and services are of high value, our pricing fair, our capital strength the strongest of any listed bank and we are recognised for our leading service.

“For our shareholders, many of them regional Queenslanders, we create an opportunity to share in the success of our business.”