Auswide Bank (formerly Wide Bay Australia) is Australia's newest bank but a Queensland-based company with a history spanning 50 years. Created in 1966, Auswide Bank started with an aim to provide low-deposit home loans and competition to the big-4 banks.
The company began in 1979 when Burnett Permanent Building Society merged with Maryborough Permanent Building Society to form Wide Bay Capricorn Building Society.
In 1981, Wide Bay Capricorn also amalgamated with the Gympie and North Coast Building Society. Then again in 1983, another merger occurred with the Gladstone-based Port Curtis Building Society.
Wide Bay Capricorn continued to foster the aims of its predecessor societies established to co-ordinate the joint savings of members to foster home ownership in the community. As a result, funds under management grew strongly as did the loan book, as the company made home ownership more achievable for thousands of people by providing affordable, low deposit home loans.
From a strong support base in Central and South-East Queensland, Wide Bay Capricorn expanded nationally. This culminated with a name change to Wide Bay Australia Ltd in December 2003.
In 2008, Wide Bay Australia took over the ASX listed Mackay Permanent Building Society Limited.
In May 2013, the company adopted a new strategic plan which held out that the company would transform itself into a banking leader in our core markets and a challenger in the Australian banking landscape.
On April 1 2015, Wide Bay Australia relaunched as Auswide Bank Ltd with a new corporate identity after receiving approval from prudential supervisors, the Australian Prudential Regulation Authority.
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 following the overwhelming support of Your Credit Union members.
|1966||Burnett Permanent Building Society formed|
|1979||Burnett Permanent and Maryborough Permanent Building Societies merge to form Wide Bay Capricorn Building Society|
|1979||Wide Bay Capricorn Building Society formed|
|1981||Merger with Gympie and North Coast Building Society|
|1983||Merger with Port Curtis Permanent Building Society|
|1985||$100 million in assets|
Exempt Stock Market formed
$250 million in assets
|1994||Listing on Australian Securities Exchange|
|1997||$500 million in assets first securitisation programme|
|1998||Expansion of lending activities interstate|
$750 million in assets
$1 billion in assets and loans under management
Name change to Wide Bay Australia Ltd
Australian Financial Services Licence obtained
$1.5 billion in assets and loans under management
WBA assigned an investment grade credit rating by ratings agency Standard & Poor's
Acquisition of 25% interest in Financial Technology Securities Pty Ltd
Takeover of ASX-listed Mackay Permanent Building Society Limited
$2 billion in assets and loans under management
WBA Customers now able to access an Australia-wide ATM network
Australian Credit Licence obtained
|2013||Foundation Managing Director Ron Hancock retires. Martin Barrett is appointed as Managing Director|
Wide Bay Australia Ltd becomes Auswide Bank Ltd – Queensland's 3rd and Australia's 10th ASX listed bank
20% equity stake acquired in peer-to-peer lender MoneyPlace
Merger with Queensland Professional Credit Union (trading as Your Credit Union)
$3 billion in assets and loans under management