Auswide Bank

Office address: 16-20 Barolin Street, Bundaberg, Queensland 4670, Australia
Year established: 1966
Company type: Banking
Employees: 260
Expertise: Home loans, car & personal loans, personal & business banking, insurance, and term deposits
Parent company: N/A
CEO and key people: Doug Snell, managing director & CEO; Gregory Kenny interim managing director
Financing status: Corporation

Auswide Bank is the 10th banking institution in the country to be listed on the Australian Securities Exchange (ASX). It operates more than 15 branches primarily across Queensland’s east coast.

Auswide Bank stands out in the fast-paced world of banking by focusing on the "small things" that make a huge difference to customers. With a history spanning over 57 years, it has established itself as a flexible and responsive financial institution, offering competitive products and services that cater to the diverse needs of Australians. Auswide Bank prides itself on delivering on promises and going the extra mile for its customers, embodying a philosophy that small gestures can lead to a meaningful impact in their customers' lives.

History of Auswide Bank

Auswide Bank’s journey began in 1966, when it was founded by Ron Hancock with the vision of providing Australians with an alternative to the big banks. Initially known as Wide Bay Capricorn Building Society, the institution underwent several name changes, reflecting its growth and expansion throughout Queensland. These changes were driven by successful mergers, new branches, and an increasing customer base, all underpinned by a commitment to making a "big difference" through attention to detail. Officially becoming Auswide Bank on April 1, 2015, the bank has maintained its goal of offering Australians a genuine alternative to the big banks, despite the many changes over the years.

Products and Services of Auswide Bank

Auswide Bank offers personal banking products and services, with a focus on helping Australians achieve homeownership, including:

  • Fixed Home Loan Plus Freedom Package: a fixed rate loan that combines the benefits of a variable home loan, including an optional 100% offset account, redraw facility, and the ability to make extra payments
  • Basic Home Loan: an award-winning, flexible, 'no fuss' home loan with a competitive variable rate
  • Variable Home Loan Plus Freedom Package: a variable rate loan packed with features like an optional 100% offset account, redraw facility, and extra payments option to help customers pay off their loan sooner 

Auswide Bank also provides savings and term deposits, general insurance, and a variety of banking services designed to meet the evolving needs of its customers.

Culture at Auswide Bank

Auswide Bank fosters a culture that values the small things, believing these are what give life meaning and create real value for customers. This customer-centric approach is reflected in the bank's commitment to delivering on promises, going the extra mile, and offering competitive, feature-rich products and services. The bank's culture is characterized by agility, responsibility, and a deep listening to customer needs, ensuring a responsive and responsible banking experience.

About Auswide Bank Managing Director & CEO Doug Snell

Doug Snell was appointed as Auswide Bank’s managing director and CEO in October 2023, following the retirement of long-serving chief executive Martin Barrett. He brings more than two decades of experience in domestic and international financial services, having held senior leadership roles at Westpac, Commonwealth Bank, and BOQ. Snell is also the CEO of StockCo, a financial services firm specialising in livestock finance products. He is expected to begin his new role at Auswide Bank within six months of his appointment.

To help Snell with his transition, the bank named Gregory Kenny as interim managing director in December 2023.

The Future at Auswide Bank

With a strong foundation built on over half a century of banking excellence, Auswide Bank remains committed to providing Australians with a genuine alternative to the big banks. This includes expanding its range of competitive products and services and leveraging technology to enhance customer experiences. The bank also aims to maintain its focus on the small things that make a big difference in the lives of its customers.

Auswide Bank's future is shaped by its dedication to growth, innovation, and a relentless focus on customer satisfaction. This ensures that it remains a key player in Australia's banking and mortgage industry for years to come.

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