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ISCOVER
Staff Reporter
Connective has improved its broker proposition, appointing Phoenix Mortgage Management to its lender panel.
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As per the appointment, Connective members will now have access to a range of credit union mortgages which will grow in time as more mutuals join the Phoenix cooperative.
According to Connective head of sales and business development Michael Goerner credit unions have long been an important channel of financing for Australian borrowers.
The new access for Connective members to mutuals injects much needed competition to the mortgage market.
"Credit unions have a reputation for providing borrowers with competitively priced mortgages and through this essentially keeping the traditional lenders honest," Mr Goerner said.
"They have created a strong and loyal customer base and remain a stable source of funding for Australians."
Allan Willoughby, chief executive officer of Phoenix, believes the cooperative leverages two powerful pillars – the strength of the mutual proposition plus the distribution capabilities of the third party channel.
"NCCP legislation plus a coming of age for the industry has attracted the attention of the mutuals and they now view third party distribution as an essential source of business growth," he said.
"Connective members now have the opportunity to offer a broadened suite of products outside of the major banks to their customers and this greatly strengthens their value proposition to their clients.
"In partnership with market leaders like Connective we'll seek to expand this offering and build the basis of a whole new product set for brokers."
