First Australian Building Society
Encyclopedia
First Australian Building Society was a building society
that operated in Queensland
between 1997 and 2000.
First Australian was established in December 1997 with a merger of First Provincial Building Society, Northern Building Society and Sunstate Credit Union to create Queensland
s largest building society.
investment
s and mortgage
s, with other services including commercial
lending, consumer lending, credit card
facilities and business products.
First Australian operated two brands, "Northern Building Society" in North Queensland and "First Provincial Building Society" in Southern Queensland, with a total of 48 branches and 20 agencies across Queensland, and 430 staff.
The building society was listed on the Australian Stock Exchange as "FST".
On 5 June 2000 First Australian and Bendigo Bank
announced a merger and on 1 September 2001 the merger completed. Directors Neal Axelby and Terry O'Dwyer were appointed to the board of Bendigo Bank.
Building society
A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially mortgage lending. These institutions are found in the United Kingdom and several other countries.The term "building society"...
that operated in Queensland
Queensland
Queensland is a state of Australia, occupying the north-eastern section of the mainland continent. It is bordered by the Northern Territory, South Australia and New South Wales to the west, south-west and south respectively. To the east, Queensland is bordered by the Coral Sea and Pacific Ocean...
between 1997 and 2000.
History
The Ipswich and West Moreton Building Society, established in 1877, merged with the First Provincial Building Society on 4 November 1996.First Australian was established in December 1997 with a merger of First Provincial Building Society, Northern Building Society and Sunstate Credit Union to create Queensland
Queensland
Queensland is a state of Australia, occupying the north-eastern section of the mainland continent. It is bordered by the Northern Territory, South Australia and New South Wales to the west, south-west and south respectively. To the east, Queensland is bordered by the Coral Sea and Pacific Ocean...
s largest building society.
Operation
The society's main activities were retailRetail
Retail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be...
investment
Investment
Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...
s and mortgage
Mortgage loan
A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan...
s, with other services including commercial
Commerce
While business refers to the value-creating activities of an organization for profit, commerce means the whole system of an economy that constitutes an environment for business. The system includes legal, economic, political, social, cultural, and technological systems that are in operation in any...
lending, consumer lending, credit card
Credit card
A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...
facilities and business products.
First Australian operated two brands, "Northern Building Society" in North Queensland and "First Provincial Building Society" in Southern Queensland, with a total of 48 branches and 20 agencies across Queensland, and 430 staff.
The building society was listed on the Australian Stock Exchange as "FST".
On 5 June 2000 First Australian and Bendigo Bank
Bendigo Bank
Bendigo Bank is an Australian financial institution, operating primarily in retail banking. The company merged with Adelaide Bank in November 2007, with shareholders voting in March 2008 to change the merged company’s name to Bendigo and Adelaide Bank Limited.Before the merger, Bendigo Bank...
announced a merger and on 1 September 2001 the merger completed. Directors Neal Axelby and Terry O'Dwyer were appointed to the board of Bendigo Bank.