Greater Bank

In 1924, Mr FW Lean and Mr KA Mathieson Snr formed the Newcastle and Hunter River Public Service Starr-Bowkett Building Cooperative Society Ltd, a Starr-Bowkett society, in response to unemployment and economic depression in Newcastle, New South Wales. By providing interest-free home loans to members, the society provided an opportunity for home ownership at a time when low wages and high rent otherwise made it impossible for many.

The Bank began as a building society, the Greater Newcastle Cooperative Permanent Building and Investment Society, which opened its first office in Newcastle, New South Wales in 1945. In 1946, it had assets of £11,000.

In 1968, the Society expanded outside the Hunter, opening its first Central Coast branch in Gosford. The Society’s first Sydney branch opened in 1972 in Penrith, and the first Illawarra branch at Warrawong opened in 1973.

In 1980 the Society expanded north to the New South Wales North Coast, establishing branches at Ballina and Coffs Harbour. In 2003, the Society established its first Gold Coast branch at Robina.

The Society has merged with a number of building societies over the years. In 1998, it merged with the Mitchell Building Society of Central Western NSW, and in 2011 it merged with ABS Building Society of Armidale.[4]

As of 2014 its assets were over A$5 billion.[5]

In May 2016, after receiving approval from its regulator APRA, the Society changed its name to Greater Bank. The ownership structure did not change, remaining as a mutual bank owned by customers, rather than shareholders. [6]

Directors:

• Wayne Russell - Chair
• Jayne Drinkwater- Deputy Chair
• Roger Cracknell
• Malcolm McDonald
• Russell Ware
• Catherine Robson
• Donna-Maree Vinci
• Kylie MacFarlane

Management:

• Scott Morgan - CEO[7]

In 2010, Australian marketing guru John Dwyer[8] tempted actor Jerry Seinfeld out of retirement, to be spokesman for the Bank. Seinfeld had only ever lent his name to two marketing campaigns; American Express and Microsoft. Seinfeld starred in the company’s advertising campaigns for three years. The comedian’s tenure as spokesperson for the Bank marked a rise in brand awareness both locally and nationally.[9]

The Bank established The Greater Charitable Foundation in 2011. The Foundation partners with Australian-based charitable organisations throughout the Bank’s area of operations with a goal of improving life outcomes and supporting families and communities.

The Foundation was established with an initial allocation of $1 million by the Bank on behalf of its members and staff. The Bank continues to fund the Foundation from its profits on an ongoing basis, and the Foundation is governed by an independent Board of Directors. A key platform of the Foundation’s activities is the involvement of the Bank's staff in funded projects through volunteering and pro bono assistance.[10]

• Official Website