Greater Bank named Money magazine Customer-Owned Institution of the Year

Central Coast-based Greater Bank, has again been named the Customer-Owned Institution of the Year as part of Money magazine’s 2021 Consumer Finance Awards.

It is the second consecutive year that Greater, which has six branches in the region, has taken out the award.

It was also named Money magazine’s Home Lender of the Year in 2018 and 2019.

In June, Greater Bank was also recognised at the 2021 Mozo People’s Choice Awards, received five awards in the banking category including Mobile Banking Experience, Outstanding Customer Satisfaction, Excellent Customer Service, Highly Trusted and Most Recommended.

Greater Bank Chief Executive Officer, Scott Morgan, said receiving the latest award reinforces the bank’s guiding principle of focusing on the current and future needs of customers in all its actions.

“Our customers have been our priority for 75 years and will continue to be into the future,” Morgan said.

“It’s what guides us each day and our structure allow us to deliver this.

“As a customer-owned bank, 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.”

In recent years, Greater Bank has invested heavily in the digital space.

“Advancements in technology are driving customers’ needs and expectations, which is why over the past five years we have seen a significant increase in the number of customers using our mobile app to conduct much of their banking,” Morgan said.

“Currently, we have nearly 60 per cent of customers using the app each month.

“The introduction of digital wallets is also having a great influence on how people interact with their bank.

“We’re investing in technology to develop capabilities that will allow us to introduce new products, services and capabilities almost as soon as customers are aware of them.

“This will ensure that we are well positioned to remain relevant and sustainable in this future financial services ecosystem.

“Ultimately, these awards belong to Greater Bank employees.

“Each day we have around 700 knowledgeable and dedicated people that play a key role in delivering outstanding products and services to our customers.”

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.

Greater Bank has been servicing customers in the NSW Central Coast region since 1968 and now has branches in Erina, Lake Haven, The Entrance, Toukley, Tuggerah and Woy Woy.

Media release, Jul 1
Greater Bank