First Australian Building Society was a

building society A building society is a financial institution owned by its members as a mutual organization, which offers banking institution, banking and related financial services, especially savings and mortgage loan, mortgage lending. They exist in the Unit ...

that operated in

Queensland Queensland ( , commonly abbreviated as Qld) is a States and territories of Australia, state in northeastern Australia, and is the second-largest and third-most populous state in Australia. It is bordered by the Northern Territory, South Austr ...

between 1997 and 2000.

History

The Ipswich & 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

s largest building society.

Operation

The society's main activities were

retail Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is the sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholes ...

investment Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broade ...

s and

mortgage A mortgage loan or simply mortgage (), in civil law (legal system), civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners t ...

s, with other services including

commercial Commercial may refer to: * (adjective for) commerce, a system of voluntary exchange of products and services ** (adjective for) trade, the trading of something of economic value such as goods, services, information or money * a dose of advertising ...

lending,

consumer lending Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), ...

, 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 Bendigo and Adelaide Bank (trading as Bendigo Bank), is an Australian financial institution, operating primarily in retail banking. The company was formed by the merger of Bendigo Bank and Adelaide Bank in November 2007. Prior to the merger, ...

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.

References

External links

Delisted Company: First Australian Building Society
{{Authority control Former building societies of Australia Banks established in 1997 Banks disestablished in 2001