Office address: 300 George St, level 27, Brisbane City, QLD 4000
Website: www.greatsouthernbank.com.au
Year established: 1946
Company type: banking
Employees: 1200+
Expertise: personal banking, home loans, credit cards, business banking
Parent company: N/A
CEO and key people: Paul Lewis, CEO
Financing status: corporate backed or acquired
Great Southern Bank, formerly known as Credit Union Australia, is a customer-owned bank with over 400,000 customers as of 2023. When it rebranded in 2021, the organisation redefined its identity to resonate more with members and younger generations. This highlighted its comprehensive range of products, services, and security, just like traditional banks.
Great Southern Bank started out as Australia’s first credit union, born after a small group in Sydney acted on behalf of people who were ignored by banks. The following years saw several mergers, with over 170 small unions forming what is now known as Great Southern Bank.
The bank continued to evolve over the years, eventually becoming one of Australia's largest customer-owned banks. This transformation was marked by a significant rebranding in June 2021 to better align with its banking services and appeal to a broader demographic.
A year after the rebrand, Great Southern Bank was awarded Customer-Owned Bank of the Year.
Great Southern Bank's key offerings include:
Great Southern Bank prides itself on a culture of inclusivity, innovation, and customer-centricity. It's recognized for its commitment to diversity and inclusion, striving to create a workplace where all employees feel valued and empowered.
The organisation is recognised by the Diversity Council of Australia as an inclusive employer. Great Southern Bank celebrates events such as Harmony Week, Pride Month, National Reconciliation Week, and NAIDOC Week across the company.
Paul Lewis was appointed CEO in November 2019. He is also the Chair of Credicorp Finance and a Director of CUA Health, Credicorp Insurance and CUA Management. He first joined Great Southern Bank in 2018 as Chief Sales Officer.
Lewis has over 20 years’ experience in the financial services industry. He has held various leadership positions in companies such as ANZ, AmBank Berhad, and Westpac. He led Great Southern Bank’s rebrand in 2021, transitioning from a credit union to a customer-owned bank.
Lewis holds a bachelor’s degree in history and an MBA from Massey University. He was also part of the senior executive program at the London Business School.
Great Southern Bank is headed for further growth, with a strong emphasis on sustainable banking practices and financial inclusion. Its journey from a credit union to a customer-owned bank shows its resilience and adaptability, promising a future where it continues make a difference in Australia's mortgage industry.
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