First Australian Building Society was a

building society A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially savings and mortgage lending. Building societies exist in the United Kingdo ...

that operated in

Queensland ) , nickname = Sunshine State , image_map = Queensland in Australia.svg , map_caption = Location of Queensland in Australia , subdivision_type = Country , subdivision_name = Australia , established_title = Before federation , established_ ...

between 1997 and 2000.

History

The Ipswich and West Moreton Building Society, established in 1877, merged with the ''First Provincial Building Society'' on 4 November 1996. ''First Australian'' was established in December 1997 with a merger of ''First Provincial Building Society'', ''Northern Building Society'' and Sunstate Credit Union to create

s largest building society.

Operation

The society's main activities were

retail Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and t ...

investment Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing i ...

s and

mortgage A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any pu ...

s, with other services including

commercial Commercial may refer to: * a dose of advertising conveyed through media (such as - for example - radio or television) ** Radio advertisement ** Television advertisement * (adjective for:) commerce, a system of voluntary exchange of products and s ...

lending,

consumer lending Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt ...

credit card A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the o ...

facilities and business products. First Australian operated two brands, "Northern Building Society" in North Queensland and "First Provincial Building Society" in Southern Queensland, with a total of 48 branches and 20 agencies across Queensland, and 430 staff. The building society was listed on the Australian Stock Exchange as "FST". On 5 June 2000 First Australian and

Bendigo Bank Bendigo and Adelaide Bank is an Australian financial institution, operating primarily in retail banking. The company was formed by the merger of Bendigo Bank and Adelaide Bank in November 2007. Before the merger, Bendigo Bank delivered its pr ...

announced a merger and on 1 September 2001 the merger completed. Directors Neal Axelby and Terry O'Dwyer were appointed to the board of Bendigo Bank.

References

External links

Delisted Company: First Australian Building Society
{{Authority control Former building societies of Australia Banks established in 1997 Banks disestablished in 2001