Arelationship with a banking partner is built on two key things: understanding who they are and knowing they can deliver for you and your customers. At Great Southern Bank, our purpose is clear – we’re here to help all Australians own their own home and we back that with high service standards and competitive products designed to help customers be clever with their money.
1. What we stand for
We are 100 per cent customer-owned, with any profits reinvested into our business to continually improve on the products and services we offer customers.
With over 414,000 customers and a national footprint, we’re one of the largest, oldest customer-owned banks in the country, last year issuing around $4.23 billion in home loans.
We support Australians of all generations at every stage on their home lending journey, from first home buyers to downsizing empty-nesters, while investors now account for around a quarter of our flow of new home lending.
2. Why should you (and your customers) choose us?
We’ve worked hard to invest, transform, and improve our systems and our offerings, particularly over the last three years since our rebrand from CUA and brokers responded by rating us 2024’s Market Leader for Non-Major Banks1. In fact, around 75 per cent of our new home loan customers come to us via brokers.
Why are we popular with brokers?
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Our home lending decisions are typically made consistently and fast, with close to half agreed in under two days.
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In the financial year 2024, we were first in the industry for on-time home loan settlements (PEXA).
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Our partnership with LMI provider Helia is enabling home buyers and investors to buy with a smaller deposit. And, with our delegated underwriting authority, we can approve most loans without Helia’s assessment, resulting in faster lending decisions.
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Offset accounts can be in a single applicant’s name, rather than all applicants, so joint borrowers can link their individual transaction accounts as offset accounts, allowing them to make the most of their incoming salary credits.
We’re also focused on helping you nurture your customers on their home buying journey through our products and services.
We offer $0 ongoing fees on all home loan products, while our savings products help you partner with your customers on their home buying journey, including:
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Home Saver, which is specifically designed to help customers grow their deposit.
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The Boost2, which automatically transfers a set amount to a customer’s home loan every time they use their debit card. On average, our customers save over $35,000 in interest and reduce the term of their loan by two years when they use The Boost2.
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Customers can ‘bucket’ their income into different accounts, helping them budget and create a savings routine.
1Agile Market Intelligence 2024
Third-Party Lending Survey, conducted March to May 2024. 2Calculation based on a Basic Variable Principal & Interest Home Loan rate (LVR is 70 per cent or less). With an average home loan balance of $281,687, 18 transactions of $6.37 per month, with 24 years remaining on loan and no redraw.
