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Government investment boosts funds for CUA

Staff Reporter 1 minute read

Credit Union Australia (CUA) has become the latest lender to benefit from the government’s investment in the home loan market.

The mutual yesterday priced a $482 million RMBS deal with the top tranche priced 100 basis points above the one-month bank bill swap rate, according to The Australian Financial Review.

CUA announced that it would withdraw from the broker channel in March last year, so while the funding is good news for the mortgage market it will have no impact on third-party distributers.

Bendigo and Adelaide Bank, which also qualified for the latest round of the government investments, is expected to price a $500 million-plus deal later this week.

 

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