Aussie is an Australian retail financial services group with operations spanning all mainland capital cities and major regional centres throughout
Australia. , Aussie reported a loan book under management of over A$42 Billion through 750 brokers and 150 stores.
[Aussie sales jump in last quarter](_blank)
''Aussie Home Loan
', 17 April 2012
History
The firm was founded as Aussie Home Loans on 17 February 1992
by owners, executive chairman
John Symond and former executive director, Nick Paten. The company was unique in its approach to
home loans, offering 24 hours a day service and lower interest than loans offered by banks. . In 1994 the firm introduced the securitisation of home loans, allowing them to offer loans upwards of 3% cheaper than its competitors. The company rapidly grew as consumers became aware of its products and banks were forced to copy its methods as their market share diminished. The company re-positioned itself as a mortgage broker in 2002, and introduced its own credit card shortly thereafter.
In August 2008 the Commonwealth Bank acquired a 33% stake in Aussie.
[Commonwealth Bank make strategic investment in Aussie](_blank)
''Commonwealth Bank'', 29 August 2008 On 18 December 2012 CBA increased its share of ownership to 80% then to 100% in August 2017. In December of 2020 the Commonwealth Bank announced plans to divest 55 per cent of its holding in Aussie Home Loans in a deal that would merge the company with fellow mortgage broker Lendi. In 2021 the company partnered with the Australian fintech
Tic:Toc Home Loans to offer its own online home loan.
Acquisition
In February 2009, the firm acquired Wizard Home Loans.
The deal saw the loan book expand to more than A$31bn . Aussie also acquired Wizard's franchise distribution network, including 99 retail outlets and 200 brokers. A further acquisition was made in July 2012 of National Mortgage Brokers (nMB) which added a stand-alone wholesale aggregation channel of 200 broker businesses and loan book of 8.5 Billion dollars thus taking the total loan book under Aussie Group management in excess of 50 Billion through 950 brokers.
Advertising and Sponsorship
In 2009, following its acquisition of Wizard Home Loans, Aussie took over Wizard's sponsorship of the Rugby League's
New South Wales State of Origin team for the next two years, and also inherited the sponsorship of
Collingwood Football Club
The Collingwood Football Club, nicknamed the Magpies or colloquially the Pies, is a professional Australian rules football club based in Melbourne that competes in the Australian Football League (AFL), the sport's elite competition. The club ...
in the
Australian Football League (AFL). Both deals lasted for two seasons (2009–2010), before Aussie withdrew. In the former case, it came in the fallout from New South Wales' fifth (of eight) consecutive State of Origin series defeat.
In 2002, the firm purchased
naming rights
Naming rights are a financial transaction and form of advertising or memorialization whereby a corporation, person, or other entity purchases the right to name a facility, object, location, program, or event, typically for a defined period of t ...
to
Sydney Football Stadium
The Sydney Football Stadium, commercially known as Allianz Stadium and previously Aussie Stadium, was a football stadium in Moore Park, Sydney, Australia. Built in 1988 next to the Sydney Cricket Ground, the stadium was Sydney's premier rect ...
in a five-year plus five-year deal, with the stadium renamed
Aussie Stadium.
On 7 July 2007 the stadium reverted to its original name, after the firm and the
SCG Trust mutually elected not to extend the deal.
References
{{Reflist
External links
Aussie Home LoansAussie Personal LoansHow Aussie John Symond broke the mould
Financial services companies established in 1992
Financial services companies based in Sydney
Mortgage industry of Australia