The association has told its members that it will not be raising membership fees this year, following similar moves in 2020.
The Finance Brokers Association of Australia (FBAA) has announced that it will freeze its membership fees for the third consecutive year.
The FBAA’s decision to not change membership fees has followed similar moves before the coronavirus pandemic, and after the onset of the COVID-19 crisis in 2020.
In an email to members yesterday (15 July), FBAA managing director Peter White said: “It’s been an uncertain last few years, and we want to make this small move to bring some certainty to your membership.”
In his latest update to FBAA members, Mr White revealed that the FBAA’s membership had increased by 10.8 per cent compared with the same time last year, with a total of 9,034 members as at 30 June, and 90 per cent of those members customer-facing finance brokers.
“One of the main comments we hear from members is that the FBAA is on track when it comes to not only talking about the issues you care about and that directly affect you, but that actions and results follow,” Mr White said.
In 2020, the FBAA also established a Broker Support Program (BSP) for members, which aimed to assist brokers survive the COVID-19 crisis by offering members the option of paying for their membership fees over instalments rather than in one lump sum.
Malavika Santhebennur is the features editor on the mortgages titles at Momentum Media.
Before joining the team in 2019, Malavika held roles with Money Management and Benchmark Media. She has been writing about financial services for the past six years.
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