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NOVA Turns One

4 May 2019 |Industry Updates

NOVA Turns One

4 May 2019 |Industry Updates
Twelve months down the track NOVA’s initial expectations have been exceeded.
‘Our members have supported the move wholeheartedly demonstrated by record growth of 20% in our mortgage loans,’ says David Franklin, NOVA’s CEO.

Now able to support members with mortgages of substantially higher value is a significant driving force for the organisation that was once constrained by liquidity and capital requirements.

Members are also enjoying the benefits of new technology, services and capability with the launch of products such as Pay ID, Osko and digital wallet Pays, Visa Debit and Credit Cards and a mobile phone App.

NOVA was in the same boat as many similar sized credit unions, unable to offer these types of products due to the prohibitive cost involved. As an Alliance Bank, NOVA is now able to offer the latest technology and deliver the capability members and the community have come to expect.

‘Simply put we would not be where we are now without the Alliance Bank solution. Processes have been streamlined and we have the backing of the Central Alliance team that offers us full support at all times. The transfer of business to Bendigo and Adelaide Bank has been a fantastic outcome, not just for the business but importantly for our team and our members.’

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Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. AWA Mutual Limited®, BDCU Limited®, CIRCLE Mutual Limited®, NOVA Mutual Limited® and SERVICE ONE Mutual Limited® (Alliance partners) are independent mutual entities that have formed an alliance with Bendigo and Adelaide Bank. AWA Alliance Bank®, BDCU Alliance Bank®, CIRCLE Alliance Bank®, NOVA Alliance Bank® and SERVICE ONE Alliance Bank® are trademarks of Bendigo and Adelaide Bank Limited.

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