Auswide Bank Ltd, formerly known as Wide Bay Australia, was Australia’s 10th bank listed and trading on the Australian Securities Exchange (ASX).[1]
Its head office is located in Bundaberg, Queensland. Auswide Bank has an asset base of over $5 billion.[2]
Overview
Auswide Bank has been around for over 57 years and has 16 branches located primarily across the Queensland east coast.
They provide personal banking products and services including loans, savings and investments, insurance, foreign exchange and banking services, with a focus on home ownership for everyday Australians.[3]
Auswide Bank has an Australian Credit Licence and an Australian Financial Services Licence issued by ASIC and is an Authorised Deposit-taking Institution prudentially supervised by the Australian Prudential Regulation Authority.[4]
Corporate History
A Wide Bay Australia branch pictured in 2014, prior to rebranding
Auswide Bank’s origins are in the local communities of Queensland's Wide Bay Burnett region.
Timeline
1979
Wide Bay Capricorn Building Society was formed as the result of a merger between the Burnett Permanent Building Society (based in Bundaberg) and the Maryborough Permanent Building Society, both of which had operated since the 1960s.[5]
1981-1983
Wide Bay Capricorn amalgamated with the Gympie and North Coast Building Society and in 1983 another merger occurred with the Gladstone-based Port Curtis Building Society.[6]
1994
Wide Bay Capricorn Building Society Ltd was listed on the ASX.[7]
2000/2001
Wide Bay Capricorn exceeded $1 billion in assets and loans under management.[8]
2003
Wide Bay Capricorn was changed to Wide Bay Australia in December following branch expansion and a strong support base in Central and South-East Queensland.[9]
2008
Mackay Permanent Building Society Limited merged with Wide Bay Australia.[10]
2015
On April 1, Wide Bay Australia officially becomes Auswide Bank. The decision was made by Wide Bay Australia's board of directors to convert to a bank based on several reasons including the geographic limitations of the Wide Bay name and the added 'security' that banks are perceived to offer.[11]
On December 22nd 2015, Auswide Bank announced a merger with the Brisbane based Queensland Professional Credit Union (trading as Your Credit Union). The merger was completed on May 20th 2016.[12]
2024
in August 2024 it was announced that Auswide Bank and MyState Financial, based in Tasmaina were seeking a merger [13]
Operations
The company’s corporate head office is located in Bundaberg, Queensland. A corporate office is also based in the Brisbane CBD.
Retail Banking
The retail banking channel provides financial services to personal and business banking customers via Auswide Bank branches, mobile lenders, phone and online.[citation needed]
Third Party
The third-party channel provides loans and associated financial services to customers via accredited mortgage brokers and introducers and deposits to customers via partnerships and deposit brokers.[citation needed]
Private Bank
The private banking channel offers a range of financial products – from banking and deposits to borrowing and protection.[citation needed]
