The Greater Building Society has today been announced as Australia’s Building Society of the Year in the AFR Smart Investor Blue Ribbon Awards.
It was also the winner of the Basic Home Loan of the Year, and was one of only three finalists from across all Australian financial institutions in the categories of Variable Rate Home Loan of the Year and Fixed Rate Home Loan of the Year awards.
Greater chief executive officer Don Magin said that he was thrilled the Greater had been recognised in what are the industry’s premier awards just days after winning Mozo’s inaugural 2010 People’s Choice Award for Best Building Society.
Mr Magin said the awards were a credit to Greater staff for their efforts to offer almost 250,000 members competitive rates, low fees and superior customer service.
“With the help of Jerry Seinfeld and some great product offerings we are stepping up to take on the major banks in offering greater competition and choice in the marketplace,” Mr Magin said.
“Being the best building society is a fantastic achievement but the Greater has its sights firmly set on being the best, customer focused financial institution serving even more people across Australia,” he said.
He said to meet its ambitious plans the Greater had launched its Seinfeld led marketing campaign and introduced new loan and savings products, including online savings accounts. In February 2010 it reinvigorated its free holiday program for standard variable home loans and launched its award-winning Basic Home Loan with low fees and market leading rates.
“Many people are opting for basic home loans to keep their mortgages as low as possible in an environment where rates are tipped to rise further before falling,” he said.
“When the all important comparison rate is examined the Greater saves people even more money off their home loan than its competitors.”
The Greater’s Great Rate (Basic) Home Loan has low fees and its Internet redraw facility, Internet and phone banking services are free. For new loans over $40,000 there is no Upfront Establishment Fee.
The AFR Smart Investor Blue Ribbon Awards 2010 are the most comprehensive, independent evaluation of Banking, Insurance and Investment products in the market and are judged in conjunction with research houses InfoChoice, Morningstar and Rice Warner Actuaries. The awards issue of the AFR Smart Investor Magazine will be on sale today (17 September 2010).
In 2009 the Greater won the Best Term Deposit Long (over 360 days). The Greater’s Bonus Saver Account was a finalist in the incentive saver category.
The Greater Building Society is one of Australia’s largest building societies operating across regional NSW, South-east Queensland and Townsville. One of Australia’s Top 200 private companies (BRW 2010), it has 66 branches, 700 staff and assets worth more than $4billion. It has an independently determined customer satisfaction rating of 95 per cent.
