As a customer-owned bank, customers are at the heart of everything we do. We are committed to helping our customers to become homeowners, in line with our purpose and to supporting them through their banking journey.
Helping homebuyers
- We issued $4.47 billion in new lending to homebuyers.
- We helped 4,960 first home buyers to purchase a home in FY23.
- We increased our market share for first home buyers to 2.88%, around three times our overall market share.
Delivering award-winning products
- Most Recommended First Home Buyer Loan in the 2023 DBM Australian Financial Awards.
- Everyday and Savings Bank of the Year in the Mozo Experts’ Choice Awards 2023.
- Canstar Customer Owned Bank of the Year for Savings and Everyday Banking (2022).
Providing value to customers
- Canstar research showed our home loan customers made an estimated average saving of $1,256 during the year to June 2023 by having their loan with us, rather than one of the Big 4 banks - an extra $74 in annual savings compared to 20221.
- Our four most popular savings accounts were ranked in the top 5 market rates a total of 90 times across the year2.
Supporting customers experiencing vulnerability
- We supported around 25,000 customers with payment plans and hardship arrangements across the year.
- We extended support to customers impacted by flooding in October 2022 across Victoria, NSW and Tasmania.
- We strengthened processes across our business to meet the 180 commitments set out in the new Customer Owned Banking Code of Practice.
Case study: Overcoming challenges to become homeowners
Living in Melbourne’s western suburbs, Kayla and Stacey pictured above know how hard it can be to start a young family and buy a home.
“We thought we were years off buying,” says Kayla. “We’d spent the deposit we’d built on IVF, and the ongoing costs of having kids made it really hard to save for a deposit.
“The only reason we were able to buy was the 5% deposit scheme [Home Guarantee Scheme]. We went to Great Southern Bank and they approved the loan we needed.”
Now parents to three-year old twins and new owners of a three-bedroom house, Kayla says it was all worth it.
“We’ve just been so lucky,” says Kayla.
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1 Source: www.canstar.com.au, Great Southern Bank - Home loan cost comparison to major banks, August 2023.
2 Based on a weekly survey of Home Saver and Goal Saver in the ongoing bonus rate category, eSaver Flexi in the flat rate savings category and Youth eSaver in the youth category, benchmarked against comparable products offered by competitors.