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Newcastle Permanent is Australia’s largest building society, with almost $11 billion in total assets, according to organisation’s 2018 Annual Report. It employs nearly 1,000 dedicated staff and has more than 325,000 loyal customers. This could make it a great option for someone who is looking for a small bank experience from a larger financial institution.
Unlike bigger banks, Newcastle Permanent is owned by its customers. This mutual structure allows you as a customer to have a say in how your financial institution is run, while also benefitting from being part of a building society whose main focus is its customers.
Newcastle Permanent strives to provide better value banking. And, thanks to its mutual structure, it can do this. With no external shareholders to pay out profits to, it can return those profits to customers, providing products with lower fees and competitive rates.
Profits can also be invested within the community, helping to further serve its local members. ‘Here for Good’, Newcastle Permanent proudly invests more than $2 million in local communities each year.
Just like the big banks, Newcastle Permanent offers customers easy access to their money, with online and mobile account access, backed by Visa’s extensive worldwide network for credit and debit cardholders.
Just like the big banks, Newcastle Permanent faces the same stringent regulation, supervised by the Australian Prudential Regulation Authority (APRA), and governed by the Banking Act.
As the building society itself says, ‘Here for Good’ is more than just an advertising slogan - it reflects who Newcastle Permanent is. In 2003, Newcastle Permanent created the Newcastle Permanent Charitable Foundation to offer financial support through community involvement and an extensive sponsorship program.
Helping to rewrite futures, the organisation supports projects that have a genuine capacity to create social opportunity and make the future better for people facing disadvantage, marginalisation or isolation across regional NSW. Since its inception, it has supported almost 450 community projects and more than 260 organisations, with more than $19 million in grants distributed to date.
With a strong focus on community, Newcastle Permanent supports fun, family-friendly community events such as surf life saving, football, running festivals and Cinema Under the Stars. The building society also works to support healthy minds and bodies through Northern NSW Football, the Central Coast Mariners ACTIVE program and more.
Lastly, its people are passionate about supporting their local communities through contributions and volunteer work. This means getting involved in staff volunteering, staff donations, charity fundraising, and other community events.
Interested in what Newcastle Permanent has to offer? You can apply for a Newcastle Permanent credit card today. Keeping its credit card offering fairly basic, this building society focuses on providing value rather than features. Would this style of card work for you?
Want to find out more? Check out all the need-to-know info on the Newcastle Permanent Value+ Credit Card alongside our handy review by clicking on the card’s page.
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