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Memberships have reached a record high at the association, topping 16,000 for the first time.
The Mortgage and Finance Association of Australia (MFAA) has grown its membership base to more than 16,000, a record for the association.
The membership figures, which are independently audited, have grown by 9 per cent over the past two years, with over 97 per cent of the MFAA’s members being individual mortgage and finance brokers.
After revealing the record membership figures at the MFAA National Conference in Melbourne last week, CEO Anja Pannek said: “Surpassing 16,000 members is a fantastic result for the association and the MFAA team.”
She also flagged that membership growth in the last 12 months of the year had been the strongest experienced in the last seven years.
“As the industry continues to grow to meet the demands of consumers and business owners, it’s pleasing to see the immense trust brokers are placing in the MFAA, to be their voice and represent their views when talking to government, regulators and other key stakeholders,” she said.
“We consider it an honour and a privilege to champion the value, choice, and competition our members create for Australians.
“We have continued to deliver positive outcomes for our members over the last 12 months, through advocacy, promotion and professional development.”
Speaking at the MFAA National Conference last week, Pannek highlighted that broker market share has increased rapidly, from 66 per cent in 2020 to around 77 per cent in the March quarter of this year.
At the conference, the association formally launched a new ‘university-level’ designation for experienced mortgage brokers.
Pannek said the launch was a major achievement for the MFAA.
“The MFPA clearly demonstrates we are committed to the highest standards in broker education. This is what our members have asked of us. The designation is a crucial step on our journey toward professionalisation,” she said.
[Related: FBAA membership growth surges]
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