Get notifications in real-time for staying up to date with content that matters to you.
Australian Central Credit Union (ACCU) has reported a satisfying financial performance for the half year to December 2007.
The credit union announced this week that it achieved a 12.4 per cent increase in total revenue to $115.9 million.
Managing director of ACCU Peter Evers said the result was "very pleasing", with net profit rising by 4.5 per cent to $5.96 million – despite the rising costs of funding.
“The profit was earned despite the fact that we have continued to absorb significant interest rate expense through the increased cost of purchasing funds,” he said.
“The ongoing upward pressure on interest rates, coming from national and international activity, has clearly impacted on the home loan market – particularly as people wait for interest rates and the like to settle down.”
Published: 19-02-08
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.
It is “unacceptable” that turnaround times in branches can be...
The aggregator has partnered with former Time Home Loans director...
Roughly one-third of Australian farmers expect to increase their ...
The number one magazine for mortgage brokers
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
What's the longest time you've been left on hold before getting through to a credit assessor?
