Greater Bank announced as Money magazine’s Customer-Owned Institution of the Year

Greater Bank announced as Money magazine’s Customer-Owned Institution of the Year

Local banking institution, Greater Bank, has been named Customer-Owned Institution of the Year for the third year in a row as a part of Money magazine’s 2022 Consumer Finance Awards.

This follows being named Money magazine’s Home Lender of the Year in 2018 and 2019.

Greater Bank Chief Executive Officer, Scott Morgan said that this recognition displays Greater Bank’s commitment to providing both quality service and great value for its customers.

“We are exceptionally proud to be named Customer-Owned Institution of the Year for the third consecutive year. This prolonged recognition and success reinforces our commitment to our guiding principles that firmly focus on servicing the current and future needs of customers in all that we do,” Scott said.

“Since our establishment more than 75 years ago, our customers have been our priority and remain at the heart of operations. This guides our people each day and is supported through our structure and commitment to the principle of customer-owned banking.

“We don’t have shareholders, which means our profits are reinvested into our business to ensure we are providing competitively priced, quality products delivered in a way that reflects outstanding customer service.”

Scott said that adapting to the rapid advancements in technology and with it, the evolving needs of customers has been a significant focus in recent years through Greater Bank’s investment in digital transformation.

“There is no doubt that technology has driven customer needs and expectations in recent years, which has resulted in a significant shift toward mobile and digital channels to conduct a wide range of everyday banking transactions and services,” Scott said.

“Digital wallets and banking apps are standard service offerings in 2022, however the work we are undertaking with our digital transformation is establishing foundations that will allow us to rapidly adapt to and implement new product and service offerings that will ensure we are successful in servicing the future needs of our customers.”

Scott said that this latest industry award is a testament to the commitment and dedication of Greater Bank employees.

“These awards are only achieved through the work of our people. Be it the customer-facing employees in our branch network, lending teams and customer contact centre, or the many more working across our head office operations, each day our team of more than 700 knowledgeable and dedicated people play a key role in delivering on our vision and driving our success.”

In determining the Money Magazine award, Greater Bank achieved the highest overall score among customer-owned institutions competing across six individual categories, including Home Lender, Personal Lender, Credit Card Issuer, Money Minder, Investment Lender, and Business Banking.

IMAGE | (L-R) Editor-in-Chief for Money Magazine, Michelle Baltazar; Greater Bank’s Acting Head of Retail, Scott McCluskey; and Executive Director, Research & Compliance, Rainmaker Group, Alex Dunnin.

Greater Bank

The customer-owned Greater Bank is Newcastle and the Hunter's only local bank.

It offers a greater kind of banking experience whether you're buying a home, saving, investing, paying the bills, insuring your possessions, travelling or planning for retirement - online, on the phone, at a local branch or through its national ATM network.

Greater Bank is experienced, safe and strong like the big banks.  The difference is it doesn't have shareholders so it's always focussed on customers and community.

Greater Bank's friendly, expert team has made it a winner of the national Roy Morgan Customer Satisfaction Awards three years running, with ratings as high as 97%.

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