Auswide celebrates significant milestone

Auswide Bank managing director Martin Barrett says the lender is “stronger, fitter and more capable than ever” after celebrating its 50-year anniversary.

Mr Barrett said turning 50 was an exciting achievement for Auswide, with the half-century landmark coinciding with the bank’s one-year anniversary of its rebrand from Wide Bay Australia.

“After 50 years of weathering economic cycles, significant changes in community and society attitudes, massive changes in technology and communication, and countless other changes, I believe we are stronger, fitter and more capable than ever,” Mr Barrett said.

With total assets of nearly $3 billion, Auswide has grown into a regional bank with branch distribution across Queensland and customers throughout Australia.

Auswide has its roots in the Burnett Permanent Building Society, which was registered in April 1966 and became operational in Bundaberg in August 1966.

In 1979, Burnett Permanent amalgamated with the Maryborough Permanent Building Society to form Wide Bay Capricorn Building Society.

In 1981, Wide Bay Capricorn amalgamated with the Gympie and North Coast Building Society, and the Gladstone-based Port Curtis Building Society in 1983.

Wide Bay Capricorn changed its name to Wide Bay Australia in 2003, and in 2008 merged with the Mackay Permanent Building Society.

In April 1 2015, Wide Bay Australia relaunched as Auswide Bank.

With the original building society established to service the financial and home loan needs of the local community, Mr Barrett said Auswide continues create to opportunities for Australians.

“For our customers, our products and services are of high value, our fair pricing, our capital strength the strongest of any listed bank, and we are recognised for our leading service,” he said.

“For our shareholders, many of them regional Queenslanders, we create an opportunity to share in the success of our business.”

[Related: Auswide boost mortgage approvals, lifts margin]

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