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Greater Bank is an
Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, smal ...

Australia
n customer-owned bank and mutual
financial institution Financial institutions, otherwise known as banking institutions, are corporation A corporation is an organization—usually a group of people or a company—authorized by the State (polity), state to act as a single entity (a legal entity ...
with headquarters in
Hamilton, New South Wales Hamilton is a List of suburbs in Greater Newcastle, New South Wales, suburb of Newcastle, New South Wales, Newcastle, New South Wales, Australia, located from Newcastle's central business district. The main commercial centre is located around B ...
. The bank was previously known as the Greater Building Society, or simply "The Greater”, and provides services to customers in
New South Wales New South Wales (abbreviated as NSW) is a state State may refer to: Arts, entertainment, and media Literature * ''State Magazine'', a monthly magazine published by the U.S. Department of State * The State (newspaper), ''The State'' (newspaper ...
and southeast
Queensland Queensland ( ,) is a state situated in northeastern Australia, and is the States and territories of Australia, second-largest and third-most populous Australian state. It is bordered by the Northern Territory, South Australia and New South Wale ...

Queensland
through branches, mobile lenders, its own ATM network, access to the
Westpac Westpac Banking Corporation, known simply as Westpac, is an Australian bank and financial services Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of busin ...
ATM network, Internet and mobile banking, and a
NewcastleNewcastle usually refers to either: *Newcastle upon Tyne Newcastle upon Tyne (, ), often simply Newcastle, is the most populous City status in the United Kingdom, city and metropolitan borough in North East England. It forms the Tyneside conurbati ...
-based customer service call centre. The Bank is licensed by the
Australian Securities and Investments Commission The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian Government The Australian Government, also known as the Commonwealth Government, is the national government of Australia ...
, is regulated by
Australian Prudential Regulatory Authority The Australian Prudential Regulation Authority (APRA) is a statutory authority of the Government of Australia, Australian Government and the Prudential regulation, prudential regulator of the Australian financial services industry. APRA was establ ...
as a bank and
authorised deposit-taking institutionFinancial institution Financial institutions, otherwise known as banking institutions, are corporations that provide services as intermediaries of financial markets. Broadly speaking, there are three major types of financial institutions: # Depos ...
, and is a member of the Customer Owned Banking Association (COBA). In 2013, the Bank was named Building Society of the Year for customer satisfaction by
Roy Morgan Research Roy Morgan (formerly Roy Morgan Research) is an Australian market research company headquartered in Melbourne Melbourne ( ; wyi, Naarm) is the List of Australian capital cities, capital and List of cities in Australia by population, most-po ...
, as judged by more than 50,000 consumers and 22,000 business decision-makers. This was followed up by wins in the
Roy Morgan Research Roy Morgan (formerly Roy Morgan Research) is an Australian market research company headquartered in Melbourne Melbourne ( ; wyi, Naarm) is the List of Australian capital cities, capital and List of cities in Australia by population, most-po ...
Bank of the Year category in 2016 & 2017.


History

In 1924, Mr FW Lean and Mr KA Mathieson Snr formed the Newcastle and Hunter River Public Service Starr-Bowkett Building Cooperative Society Ltd, a Starr-Bowkett society, in response to unemployment and economic depression in
Newcastle, New South Wales The Newcastle ( , non-locally also ) metropolitan area is the second most populated area in the Australian state of New South Wales. It includes the City of Newcastle, Newcastle and City of Lake Macquarie, Lake Macquarie Local government in Aus ...
. By providing interest-free home loans to members, the society provided an opportunity for home ownership at a time when low wages and high rent otherwise made it impossible for many. The Bank began as a
building society A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking A bank is a financial institution that accepts deposits from the public and creates a demand deposit while s ...
, the Greater Newcastle Cooperative Permanent Building and Investment Society, which opened its first office in
Newcastle, New South Wales The Newcastle ( , non-locally also ) metropolitan area is the second most populated area in the Australian state of New South Wales. It includes the City of Newcastle, Newcastle and City of Lake Macquarie, Lake Macquarie Local government in Aus ...
in 1945. In 1946, it had assets of £11,000. In 1968, the Society expanded outside the
Hunter Hunting is the practice of seeking, pursuing and capturing or killing wildlife A ground pangolin Wildlife traditionally refers to undomesticated animal Animals (also called Metazoa) are multicellular eukaryotic organisms that ...
, opening its first Central Coast branch in
Gosford Gosford is a suburb of the Central Coast Council (New South Wales), Central Coast Council local government area in the heart of the Central Coast (New South Wales), Central Coast region, about north of Sydney central business district, Sydney. ...
. The Society’s first
Sydney Sydney ( ; Dharug language, Dharug: ) is the List of Australian capital cities, capital city of the state of New South Wales, and the List of cities in Australia by population, most populous city in Australia and Oceania. Located on Australia ...

Sydney
branch opened in 1972 in Penrith, and the first
Illawarra Illawarra is a Regions of New South Wales, region in the Australian state of New South Wales. It is a coastal region situated immediately south of Sydney and north of the Shoalhaven or South Coast, New South Wales, South Coast region. It encompa ...

Illawarra
branch at Warrawong opened in 1973. In 1980 the Society expanded north to the
New South Wales North Coast New South Wales North Coast or NSW North Coast, an interim Australian bioregion A bioregion is an ecology, ecologically and geographically defined area that is smaller than a biogeographical realm, but larger than an ecoregion or an ecosystem ...
, establishing branches at Ballina and
Coffs Harbour Coffs Harbour is a city on the Mid North Coast of New South Wales New South Wales (abbreviated as NSW) is a States and territories of Australia, state on the Eastern states of Australia, east coast of :Australia. It borders Queensland to th ...
. In 2003, the Society established its first
Gold Coast Gold Coast may refer to: Places Africa * Gold Coast (region), in West Africa, which was made up of the following colonies, before being established as the independent nation of Ghana: ** Portuguese Gold Coast (Portuguese, 1482–1642) ** Dutch Gol ...

Gold Coast
branch at Robina. The Society has merged with a number of building societies over the years. In 1998, it merged with the Mitchell Building Society of Central Western NSW, and in 2011 it merged with ABS Building Society of
Armidale Armidale is a city in the Northern Tablelands The Northern Tablelands, also known as the New England Tableland, is a plateau and a region of the Great Dividing Range in northern New South Wales New South Wales (abbreviated as NSW) is a S ...

Armidale
. As of 2014 its assets were over A$5 billion. In May 2016, after receiving approval from its regulator APRA, the Society changed its name to Greater Bank. The ownership structure did not change, remaining as a mutual bank owned by customers, rather than shareholders.


Operations

Directors: * Wayne Russell - Chair * Jayne Drinkwater- Deputy Chair * Roger Cracknell * Malcolm McDonald * Russell Ware * Catherine Robson * Donna-Maree Vinci * Kylie MacFarlane Management: * Scott Morgan - CEO


Advertising

In 2010, Australian marketing guru John Dwyer tempted actor
Jerry Seinfeld Jerome Allen Seinfeld ( ; born April 29, 1954) is an American stand-up comedian, actor, writer and producer. He is best known for playing a semi-fictionalized version of Jerry Seinfeld (character), himself in the sitcom ''Seinfeld'', which he cr ...

Jerry Seinfeld
out of retirement, to be spokesman for the Bank. Seinfeld had only ever lent his name to two marketing campaigns; American Express and Microsoft. Seinfeld starred in the company’s advertising campaigns for three years. The comedian’s tenure as spokesperson for the Bank marked a rise in brand awareness both locally and nationally.


Charity

The Bank established The Greater Charitable Foundation in 2011. The Foundation partners with Australian-based charitable organisations throughout the Bank’s area of operations with a goal of improving life outcomes and supporting families and communities. The Foundation was established with an initial allocation of $1 million by the Bank on behalf of its members and staff. The Bank continues to fund the Foundation from its profits on an ongoing basis, and the Foundation is governed by an independent Board of Directors. A key platform of the Foundation’s activities is the involvement of the Bank's staff in funded projects through volunteering and pro bono assistance.


References


External links


Official Website
{{Portal, Banks Building societies of Australia Banks established in 1945 Economy of Newcastle, New South Wales