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Published on: 7/4/2008
Last Visited: 7/4/2008
According to Ray Battle, BCU's CEO, there has been no significant increase in mortgage defaults despite the Reserve Bank's interest rate increases over the past few years.
'In fact, our lending is up.In the last quarter, BCU posted an impressive 4.5% increase inloans, annualised as a growth of around 12%,' said Mr Battle.
In addition, BCU's standard variable interest rate is one of the lowest in Australia, according torecent figures released by Infochoice* and as reported in the national press.
How does BCU manage to perform so well and contrary to present market trends to the benefit of locals?
For Ray Battle, BCU's success rests with its responsible lending policies and community ownership. ,As a community credit union, we are a mutual acting in the interests of our members.