Newcastle Permanent Building Society

Newcastle Permanent Building Society is an Australian building society with its head office located in Newcastle, New South Wales, Australia, and provides services in New South Wales.

Newcastle Permanent Building Society
TypePrivate
IndustryBanking and financial services
Founded2 February 1903 (as Newcastle District Starr-Bowkett Society), 1939 (as Newcastle Cooperative Building and Investment Society Limited) (2 February 1903 (as Newcastle District Starr-Bowkett Society), 1939 (as Newcastle Cooperative Building and Investment Society Limited))[1]
HeadquartersNewcastle, New South Wales,
Australia
ProductsRetail Banking
Total assetsAUD $10.7 billion (2019)[2]
Websitewww.newcastlepermanent.com.au

It was founded on 2 February 1903 as a Starr-Bowkett Society by a group of like-minded individuals who wanted to help families purchase their own homes. Newcastle Permanent has since grown to become one of the largest customer-owned banking institutions in Australia.

In November 2022, the society's members voted to merge the society with Greater Bank, to take effect in March 2023, provided regulatory approval.[3] Both brands were planned to continue.[4]

Their motto is "Here for good.", which shows their aim to help their customers improve their financial well-being and help their customers and communities thrive and grow.

History
  • 1903 - Founded as a Starr-Bowkett Society in the Newcastle suburb of Wickham on 2 February 1903
  • 1939 - Newcastle Permanent Building Society was established
  • 1966 - First branch was opened to customers
  • 1970 - Introduced its famous ‘house’ logo
  • 1983 - Relocation of office headquarters to King St, Newcastle
  • 1984 - Installation of Newcastle Permanent's first ATM
  • 2001 - Internet banking was launched for Newcastle Permanent customers
  • 2004 - The Charitable Foundation distributed its first grant
  • 2018 - Celebrated 115 years of banking.
  • 2022 - Members started voting on 28 September 2022 on a merger with Greater Bank

Services

A full suite of banking services are offered including home and personal loans, credit cards, savings, deposits, transactions and insurance as well as business banking and financial planning.

Charitable Foundation

The Charitable Foundations mission is to help those in need rewrite their futures and make a meaningful difference to individual's lives through grants. Since the Foundation's inception, more than $21.5m has been donated to the community through its bi-annual Charitable Grants process.

References
  1. Newcastle Permanent website: Our History
  2. https://www.newcastlepermanent.com.au/-/media/files/annual-reports-and-corporate-docs/newcastlepermanent_annualreport_2019.pdf
  3. Kirkwood, Ian (2 November 2022). "What the Greater Bank and Newcastle Permanent merger means for banking with the big four". Newcastle Herald. Retrieved 8 November 2022.
  4. Kelly, Matthew (27 September 2022). "Members have their say on Newcastle Perm - Greater Bank merger". Newcastle Herald. Retrieved 29 September 2022.


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