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Members Equity Bank has entered into preliminary discussions to form strategic alliances with other lenders with view to increase market share and improve competition and choice for consumers.
Chief executive Anthony Wamsteker said Members Equity was considering unique alliances with building societies, credit unions and other banks as well as joint ventures to boost service and accessibility for customers, The Australian Financial Review reported today.
Sharing facilities such as back-office facilities and ATMs with other banks and mutuals would help it achieve this objective, Mr Warmsteker said..
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“The fundamental thing is scale,” he said.
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