Office address: 300 George St, level 27, Brisbane City, QLD 4000
Website: greatsouthernbank.com.au
Year established: 1946
Company type: banking
Employees: 1200+
Expertise: personal banking, home loans, credit cards, business banking, credit cards, insurance, savings and term deposits, digital banking, green lending, first home buyer support
Parent company: N/A
CEO and key people: Paul Lewis (CEO), Kylie Chambers (COO), Angela Green (chief risk officer), Tracey Lake (chief people officer), Alan Lee (CFO), Bernadette Stone (chief information), Rold Stromsoe (chief customer officer)
Financing status: customer-owned mutual
Great Southern Bank is a customer-owned bank based in Queensland and is focused on helping Australians buy their own homes. As of 2024, the bank has supported over 414,000 customers with banking and financial services for nearly 80 years. After rebranding in 2021, it remains committed to fairness and making home ownership possible for more people.
Great Southern Bank started out in 1946 as Australia’s first credit union, founded by a small group in Sydney. Their goal was to serve people overlooked by traditional banks. Over the decades, more than 170 smaller credit unions joined together, forming Credit Union Australia (CUA).
In 2007, the bank rebranded to CUA and later merged with Plenty Community Credit Union in 2010. This merger helped the bank reach over 380,000 members which made it the biggest credit union in Australia at the time.
A major change came in June 2021 when CUA became Great Southern Bank. The new name reflected broader banking services and a desire to reach more Australians. This rebrand aimed to attract younger customers and strengthen its position against the larger banks.
In recent years, the bank has focused on helping more Australians own homes. In 2024, Great Southern Bank issued $4.23 billion in new lending to homebuyers. The bank also supported over 35,000 customers with payment plans and hardship assistance.
That same year, it ranked first for on-time home loan settlements and earned high broker satisfaction scores. Great Southern Bank continues to invest in digital services and small business banking while aiming for steady growth and better customer outcomes.
Great Southern Bank’s home loans offer flexible repayments, no ongoing fees and a feature called The Boost, which helps customers pay down their mortgage faster. The bank also provides:
Home loan products
Great Southern Bank’s services cover every step of the home loan journey, from application to support. Help is available through digital channels, call centres and in-branch experts which make the process simple and accessible.
Great Southern Bank prides itself on a culture of inclusivity, innovation and customer-centricity. Their values reflecting this culture are:
Great Southern Bank also offers benefits that support mental, physical, financial and social wellbeing. Employees can select options that suit their needs and priorities.
Benefits are grouped into four main categories:
The organisation is recognised by the Diversity Council of Australia as an inclusive employer. Great Southern Bank celebrates events such as Harmony Week, Pride Month, National Reconciliation Week and NAIDOC Week across the company.
Paul Lewis was appointed CEO in November 2019. He is also the Chair of Credicorp Finance and a Director of CUA Health, Credicorp Insurance and CUA Management. He first joined Great Southern Bank in 2018 as chief sales officer.
Here are the key people who drive Great Southern Bank’s strategy and operations:
The leadership team ensures the bank’s purpose is reflected in every decision and investment. Their experience shapes how Great Southern Bank supports customers, communities and staff every day.
In 2024, Great Southern Bank appointed Deborah O’Toole as chair, who brings over 30 years’ leadership experience in finance and major organisations. Her deep knowledge of the bank and commitment to customer-owned banking made her an ideal fit for guiding future growth.
A year later, the bank launched Business + app features for small business customers. The app added instant invoicing, MYOB and Xero feeds, and digital vehicle loan applications. This made business banking simpler and faster, supporting SMEs and future digital upgrades. With strong leadership and innovation, Great Southern Bank is positioned for continued customer-focused growth.
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