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
Who do you aggregate through?
Thank you for your vote, you can see the results here.
Lending officer sentenced for giving misleading information
A former lending officer has been sentenced in court after pleadi...
VOI rule changes postponed due to COVID
ARNECC has advised that it has reassessed its proposed amendments...
Bank automates pre-approval process
A non-major lender has announced changes to its pre-approval proc...
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
As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of The Adviser.
Receive breaking news direct to your inbox each day
