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Beyond Bank Australia 2014 Annual Report

October 2014
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Beyond Bank Australia 2014 Annual Report

Our 2014 Annual Report is now available to view here.

We have recorded strong results for the financial year with a profit of $23m which will be reinvested back into the organisation to improve products and services for our customers. Our assets under management have grown to $4.12bn and we have recorded record levels for new lending – up 10.6% across the Beyond Bank Australia Group.

The completion of our transformation to Beyond Bank Australia was a significant milestone for our organisation during the year, and while the past twelve months has been challenging, our focus remained firmly on finding the best solutions and services for those who trust us with their finances – our customers.

Key financial results for 2013/14 include:

  • New lending for the year reaching a record $708 million – up 10.6 per cent on the previous year;
  • Total member deposits rose 9.6 per cent to $3.3 billion;
  • Capital adequacy increased to 16.7 per cent; and
  • Customer satisfaction reached 95.9 per cent.

Strategic business improvements delivered in 2013/14 include:

  • Switching from credit union to mutual bank status and renaming the organisation to Beyond Bank Australia;
  • Securing an investment grade credit rating from independent ratings agency Standard and Poor’s;
  • Completing a merger with regional South Australian credit union Alliance One to expand the South Australian branch network and add 13,000 customers and $228 million to the balance sheet;
  • Launching a new mobile-optimised website with the customer experience at the forefront of design, that sets the foundations for future enhancements on our website; and
  • Introducing a brand new, state of the art digital-focused design at branches in West Lakes, SA, and Singleton, NSW, to improve service delivery.

We are proud of our achievements over the past year and thank our customers for their continued support.

We also thank our staff for their hard work throughout the year helping to build a solid 100% customer owned bank that offers a real alternative to the major banks.


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