iscover
iscover mutual bank
17 November 2022
After months of negotiation, shareholders finally voted on the mutuals’ merger.
29 March 2022
The prudential watchdog has expressed concerns about “excessive tenure” on mutual banks’ boards, with the average director sitting for at least a decade.
2 July 2024
The Australian banking landscape has seen multiple mergers over the years that are continuously narrowing the competition. What do these decisions mean for the future of Australian ...
1 September 2023
Two customer-owned lenders have announced that they intend to merge, with member votes expected later this year.
5 June 2024
A memorandum of understanding has been signed between the two mutual lenders to investigate the potential of a merger.
5 February 2024
A $400 million medium-term note transaction has been raised by a mutual lender, the largest deal of its kind by an Australian mutual.
16 September 2024
Two customer-owned banks have confirmed that their plans for a merger have been terminated.
18 May 2023
Australia’s largest mutual bank has told a Senate inquiry into regional bank closures that some communities could benefit from a joint venture model.
12 May 2023
Heritage and People’s Choice have announced the appointment of Penny Iverach to the newly created position of head of technology integration.
2 October 2023
The Tasmania-based lender has attributed its growth to the state’s “continuing demand in housing”.
1 November 2021
A mutual bank has revealed that it had completed the legal transfer to finalise a merger with a credit union.
14 March 2025
A statement from the regulatory authority has questioned the ability of mutuals to manage risk amid an evolving sector.
21 January 2022
Customer-owned banks operate around four branches per $1 billion in assets, while the big four collectively run less than one shopfront per $1 billion.
31 May 2022
Although higher mortgage rates will bring in more earnings for the banks, S&P has warned the mutual sector will still be slapped down by competition and elevated funding costs.
25 June 2019
Two customer-owned banks have confirmed that they will merge next year to create “one of Australia’s largest nationally operating mutual banks”.