Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

CUA withdraws variable interest loans from broker network

Staff Reporter 1 minute read

Australia’s largest credit union, Credit Union Australia (CUA), has become the latest victim of the global credit crunch after suspending sales of all variable rate home loans through its broker network.

According to The Australian, CUA told brokers that sales would stop from today, although it would continue to sell the loans through its branch network.

“As a result of recent events in financial markets and following a review of CUA’s broker distribution model, CUA will temporarily withdraw its variable interest rate product range from this Friday,” CUA said in a note to brokers.

CUA withdraws variable interest loans from broker network
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
handshake news Ex-broker head to lead MyState banking

A former broker head has returned to MyState Bank to tackle turna...

BBS 2021 ta SA/NT’s top brokers crowned

The leading brokers in South Australia and the Northern Territory...

Paul Kearney ta AFCA recruits from ME Bank

The complaints authority has named a new executive general manage...