Broker relationships front and centre for P&N Group

Q. Why are strong broker partnerships crucial for P&N Group?

Brokers are crucial to our multichannel approach for our P&N Bank and BCU Bank retail brands, working seamlessly alongside our branches, mobile bankers, contact centres, virtual lending teams, and digital platforms.

With 78 per cent of Australians using a broker to support them on their home ownership journey, we know we need to meet our customers wherever they want and provide them with flexibility and convenience to choose how they engage with us, including via brokers.

Q. Over the past five years, how has P&N Group evolved to better support brokers?

P&N Group has delivered a range of improvements based on broker and customer feedback, aimed at getting the basics right. This includes delivering standout customer experiences, increasing our lending product portfolio, and continuing to build broker relationships.

Through faster and more consistent turnaround times, upfront valuation ordering, case management, and giving our brokers access to speak directly with decision-makers, our broker partners and their clients now enjoy a simplified and streamlined experience.

This has resulted in broker satisfaction increasing significantly in the past two years. In fact, P&N Bank ranked the strongest third-party channel offering among nine mutual banks in the Broker Pulse 2025 Third-Party Lending Report. We received a rating of 80 per cent of the maximum score from 99 brokers across 16 attributes, scoring well above the industry average for our BDMs, call centre support, and credit assessment employees.

Q. How does P&N Group put brokers and their clients front and centre?

Our customers are at the heart of everything we do and we’re committed to delivering more seamless and convenient banking experiences wherever people choose to bank with us.

We take our brokers’ feedback seriously and believe that investing in their suggestions is key to improving their experience with us.

We’ve heard from our brokers and prioritised our strategic investments towards service excellence and delivering improved experiences for brokers and their customers through more convenient, accessible, and personalised products, services, and communication channels.

We also continue to invest in technology and process enhancements to help us deepen our customer relationships and provide more consistent experiences wherever customers choose to bank with us.

It’s all part of our mission to deliver a better experience and pave the way for a more streamlined mortgage process that makes life easier for our brokers and their clients.

Q. What are the benefits of working with a mutual bank?

Roy Morgan’s Consumer Banking June 2022 Australia Report noted customer-owned banks are ahead of banks in general when it comes to customer trust, collectively recording a higher net trust score than the banking industry.

Why? We’re genuine.

At P&N Group, our customers and owners are one and the same, so there’s no conflict with shareholders, like the listed banks. We give back to our communities, putting people before profits and keeping customers at our core.

In fact, earlier this year, P&N Bank was named Bank of the Year 2024 in the Roy Morgan Customer Satisfaction Awards for the second consecutive year, achieving the highest 12-month average satisfaction score at 91.6 per cent. Through Roy Morgan’s independent survey of bank customers in Australia, including the big four, customers voted P&N Bank as consistently achieving the highest customer satisfaction.

That’s what happens when you put your customers first.