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How your home loan can improve your local community

04th Sep 2016
  • Support local business
  • Support the business that support your local clubs, sporting groups and charities
  • Invest your dollar locally and save money while doing it
  • Avoid the big banks and their drive towards unending profit
  • Be part of our revolution

How can you make a difference?

Let’s face it, commercial banks are a commercial enterprise, they are there to make a profit – and they are very good at doing it.  Every home loan adds to that profit, and near on every dollar in profit they take leaves our local communities.

But, dare we say it? There is a better way……

In the finance industry there is another segment of lenders known as the ‘mutuals’. To you they are better known as Credit Unions, and more recently we have seen the emergence of mutual, or community owned banks.

Why are these organisations different?

Credit Unions are owned by their customers.  While there are larger mutuals that are starting to look, feel and act like their banking peers, there remain a significant number of smaller locally based ones.

These smaller local credit unions and mutuals are the businesses out there supporting our local communities, sponsoring the local kid’s footy teams, supporting local charities.

These are also the businesses that are managed by people that live in our local towns, they buy locally, they support their local community, and they employ locals. When times are good they grow, when times are hard they share our pain.  Sounds a lot like a mortgage broking business that I know.

So, when you want to buy your dream home why not consider a credit union… you may be surprised by what they offer! They are responsive, they say thank you for your business, and their tellers remember your name. What they do, they do well (…they get the little things right).

Why we work with them?

Not many brokers deal with these smaller local organisations because it’s just too hard. They need to do more research on their products because the information is not as readily available. And they are dictated to by their buying group who say that they only want relationships with the larger lenders.

We have gone the other way. We have sought out these smaller local mutuals and often we are the first brokers to engage with them. We want to be able to offer you, the customer, the option of supporting your community when you take out a home loan.

Of course we also offer the products of the commercial lenders and we deal with them daily. But we also believe strongly in choice and allowing you to join with us and support our community.

So, next time you are looking for a loan, give us a call and ask what our mutual lenders can do for you. It costs no more, and the feeling of helping your community in your own way could be your reward.

There is a better way! Come join our revolution.

Contact us today

About the writer: David Traynor has been in the finance industry since 1982, is a member FBAA and MFAA, plus the Commercial Asset Finance Brokers Association (CAFBA), David holds a Diploma in Finance and Mortgage Broking Management and has been awarded as a Fellow of Finance by FINSIA.

David established Regional Finance Solutions in 2013 when he became aware of the banks continued removal of traditional bank branch based lenders. Regional Finance Solutions currently has 16 brokers spread across the North Coast, New England and North West. Banking roles for David have been extensive and have included roles in branches through to executive management roles.