We've turned 5!
We've turned 5!
At the recent Alliance Bank Strategic Advisory Board meeting we took the time to celebrate and acknowledge the achievements to date.
On the 1st March 2015, our first four foundation Credit Union partners transformed their business and became Alliance Banks. Now we're celebrating our 5th Anniversary.
Growth achieved since transfer of business is 41.75%, with an 53.6% growth in lending and 31% growth in deposits.
We also welcomed a new partner, Nova Alliance Bank, located in Newcastle on 4th May 2018.
Growth is only part of the story, the Alliance Bank mutual companies have contributed $6.8m to support social impact initiatives within their respective communities. In 2017, the innovative Social Impact Loan program was launched. This Do Good product enables funds to create shared value rather than distributed as philanthropy.
The Alliance Bank model allows mutual companies to remain relevant to their membership, independent and have the strength to prosper in a highly regulated and competitive market.
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