Aussie is an Australian retail financial services group with operations spanning all mainland capital cities and major regional centres throughout

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, sma ...

. , Aussie reported a loan book under management of over A$42 Billion through 750 brokers and 150 stores.Aussie sales jump in last quarter
''Aussie Home Loan

', 17 April 2012

History

The firm was founded as Aussie Home Loans on 17 February 1992 by owners, executive chairman

John Symond John Joseph Symond (born 17 August 1947) is an Australian entrepreneur, former financial executive, and the founder of Aussie Home Loans. Early life Symond was born on 17 August 1947 in Crookwell, New South Wales and raised in Sydney. He sp ...

and former executive director, Nick Paten. The company was unique in its approach to home loans, offering 24 hours a day service and lower interest than loans offered by banks. . In 1994 the firm introduced the securitisation of home loans, allowing them to offer loans upwards of 3% cheaper than its competitors. The company rapidly grew as consumers became aware of its products and banks were forced to copy its methods as their market share diminished. The company re-positioned itself as a mortgage broker in 2002, and introduced its own credit card shortly thereafter. In August 2008 the Commonwealth Bank acquired a 33% stake in Aussie.Commonwealth Bank make strategic investment in Aussie
''Commonwealth Bank'', 29 August 2008 On 18 December 2012 CBA increased its share of ownership to 80% then to 100% in August 2017. In December of 2020 the Commonwealth Bank announced plans to divest 55 per cent of its holding in Aussie Home Loans in a deal that would merge the company with fellow mortgage broker Lendi. In 2021 the company partnered with the Australian fintech Tic:Toc Home Loans to offer its own online home loan.

Acquisition

In February 2009, the firm acquired Wizard Home Loans. The deal saw the loan book expand to more than A$31bn . Aussie also acquired Wizard's franchise distribution network, including 99 retail outlets and 200 brokers. A further acquisition was made in July 2012 of National Mortgage Brokers (nMB) which added a stand-alone wholesale aggregation channel of 200 broker businesses and loan book of 8.5 Billion dollars thus taking the total loan book under Aussie Group management in excess of 50 Billion through 950 brokers.

Advertising and Sponsorship

In 2009, following its acquisition of Wizard Home Loans, Aussie took over Wizard's sponsorship of the Rugby League's

New South Wales State of Origin team The New South Wales rugby league team has represented the Australian state of New South Wales in rugby league football since the sport's beginnings there in 1907. Also known as the Blues due to their sky blue jerseys, the team competes in the ann ...

for the next two years, and also inherited the sponsorship of

Collingwood Football Club The Collingwood Football Club, nicknamed the Magpies or colloquially the Pies, is a professional Australian rules football club based in Melbourne that competes in the Australian Football League (AFL), the sport's elite competition. The club w ...

in the

Australian Football League The Australian Football League (AFL) is the only fully professional competition of Australian rules football. Through the AFL Commission, the AFL also serves as the sport's governing body and is responsible for controlling the laws of the gam ...

(AFL). Both deals lasted for two seasons (2009–2010), before Aussie withdrew. In the former case, it came in the fallout from New South Wales' fifth (of eight) consecutive State of Origin series defeat. In 2002, the firm purchased

naming rights Naming rights are a financial transaction and form of advertising or memorialization whereby a corporation, person, or other entity purchases the right to name a facility, object, location, program, or event, typically for a defined period of t ...

Sydney Football Stadium The Sydney Football Stadium, commercially known as Allianz Stadium and previously Aussie Stadium, was a football stadium in Moore Park, Sydney, Australia. Built in 1988 next to the Sydney Cricket Ground, the stadium was Sydney's premier rect ...

in a five-year plus five-year deal, with the stadium renamed

Aussie Stadium The Sydney Football Stadium, commercially known as Allianz Stadium and previously Aussie Stadium, was a football stadium in Moore Park, Sydney, Australia. Built in 1988 next to the Sydney Cricket Ground, the stadium was Sydney's premier recta ...

. On 7 July 2007 the stadium reverted to its original name, after the firm and the

SCG Trust The Sydney Cricket and Sports Ground Trust (popularly known as the Sydney Cricket Ground Trust or SCG Trust) was an agency of the Government of New South Wales that operated the Sydney Cricket Ground and Sydney Football Stadium in Sydney, N ...

mutually elected not to extend the deal.

References

{{Reflist

External links

Aussie Home Loans

Aussie Personal Loans

How Aussie John Symond broke the mould
Financial services companies established in 1992 Financial services companies based in Sydney Mortgage industry of Australia