Auswide Bank

Auswide Bank: Its Origins

When it comes to smaller banks, it’s often reassuring to know their history before applying for one of their products. Auswide Bank began by serving local communities as the Wide Bay Capricorn Building Society, formed in 1979 when the Bundaberg-based Burnett Permanent Building Society merged with the Maryborough Permanent Building Society. Founded to provide “an alternative to the big banks,” this local building society started out small but grew significantly over the years.

Following mergers with the Gympie and North Coast Building Society, and later with the Gladstone-based Port Curtis Building Society in the 1980s, Wide Bay Capricorn Building Society Ltd was listed on the ASX a decade later. After a period of continued growth, the organisation surpassed $1 billion in assets and loans under management in the early 2000s.

Expanding beyond its roots in Central and South-East Queensland, the bank grew to serve customers nationally. To reflect this broader reach, the organisation changed its name to Wide Bay Australia Ltd in 2003. Another major merger followed in 2008 with Mackay Permanent Building Society Limited, further extending the bank’s presence into Central and North Queensland with additional branches and customers.

Then, in 2015, a few years after the board of directors decided to convert to a bank, Auswide Bank—as we know it today—was launched. Offering a personalised, smaller-bank experience, it now provides a wide range of financial products and services while maintaining a strong focus on the communities it serves. In the years since, the bank has continued to grow, including an important merger with Queensland Professional Credit Union, which helped increase its total assets to more than $3 billion.

Auswide Bank: Its Offering

While it may have grown and expanded over the years, Auswide Bank still sees itself as a small bank. And, when you compare it to banks such as the Big Four, it truly is a small bank—but that can be a good thing. Auswide Bank believes it’s the small things that give life meaning and create real value for its customers, which is why it focuses on those details, providing genuine service and meaningful products.

This is a bank that describes itself as friendly and flexible, responsive and responsible, agile and nimble. By paying attention to detail, delivering on its promises, and going the extra mile, Auswide Bank embraces its small status while making a big impact on the lives of its customers. By putting its customers first, the bank aims to make a real difference in the Australian banking landscape and help challenge the dominance of the Big Four.

Auswide Bank: Its Products

As a full-service bank, Auswide Bank offers a wide selection of financial products and services—ranging from home loans, personal loans, and car loans to term deposits, superannuation, and insurance. Of course, it also offers credit cards—or it wouldn’t be featured on this page. So, what does this small bank with big ideas have to offer when it comes to credit cards?

Currently, Auswide Bank has two credit cards available: one that focuses on low rates and another that offers rewards and added features.

Low Rate Credit Cards: Who do they work best for?

Low-rate cards, such as the one offered by Auswide Bank, can be a great option for cardholders looking to save money on interest. With a low purchase interest rate, these cards help reduce interest costs for those who tend to carry a balance each month. When paired with a low annual fee, they can be real money-savers—though they typically offer fewer features and keep things simple.

Rewards Credit Cards: Who do they work best for?

Rewards cards allow cardholders to earn points on their spending, which can then be redeemed for rewards. The type of rewards available depends on the specific rewards program. The Auswide Bank rewards card earns points through the Card Services program, allowing cardholders to redeem points for merchandise or gift vouchers, book travel directly through the program, or convert points to frequent flyer miles with Singapore Airlines’ KrisFlyer or Virgin Australia's Velocity programs.

This makes rewards cards a great option for cardholders who want to get something back from their spending—letting them treat themselves with meaningful rewards.

Premium Credit Cards: Who do they work best for?

The Auswide Bank rewards card also happens to be a platinum card. Platinum cards offer additional features for cardholders and can be a great choice for those who want a little more from their credit card. While they may charge higher annual fees than classic cards, platinum cards often include extras such as concierge services, insurance cover, and higher credit limits.