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A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially savings and mortgage lending. Building societies exist in the United Kingdom, Australia and New Zealand, and used to exist in Ireland and several Commonwealth countries. They are similar to credit unions in organisation, though few enforce a common bond. However, rather than promoting thrift and offering unsecured and business loans, the purpose of a building society is to provide home mortgages to members. Borrowers and depositors are society members, setting policy and appointing directors on a one-member, one-vote basis. Building societies often provide other retail banking services, such as current accounts, credit cards and personal loans. The term "building society" first arose in the 19th century in Great Britain from cooperative savings groups.
Brisbane is the capital of and most populous city in the Australian state of Queensland, and the third most populous city in Australia. Brisbane's metropolitan area has a population of approximately 2.6 million, and it lies at the centre of the South East Queensland metropolitan region, which encompasses a population of approximately 3.8 million. The Brisbane central business district is situated inside a peninsula of the Brisbane River, about 15 kilometres from its mouth at Moreton Bay, a bay of the Coral Sea. The metropolitan area extends in all directions along the hilly floodplain of the Brisbane River Valley between Moreton Bay and the Taylor and D'Aguilar mountain ranges. It sprawls across several of Australia's most populous local government areas (LGAs)—most centrally the City of Brisbane, the most populous LGA in the nation. The demonym of Brisbane is "Brisbanite", while common nicknames include "Brissy" and "River City".
Ipswich is an urban region in South East Queensland, Australia. Situated on the Bremer River, it is approximately 40 kilometres (25 mi) west of the Brisbane central business district. A local government area, the City of Ipswich has a population of 200,000. The city is renowned for its architectural, natural and cultural heritage. Ipswich preserves and operates from many of its historical buildings, with more than 6000 heritage-listed sites and over 500 parks. Ipswich began in 1827 as a mining settlement.
Northern Rock, formerly the Northern Rock Building Society, was a British bank. Based at Regent Centre in Newcastle upon Tyne, United Kingdom, Northern Rock was originally a building society. It demutualised and became Northern Rock bank in 1997, when it floated on the London Stock Exchange with the ticker symbol NRK. During the early 2000s the company borrowed substantially to fund mortgages, with the aim of ambitious growth, and also donated large amounts to charitable purposes and communities directly and through sponsorships. The global banking crisis beginning around 2007–08 meant that it was unable to produce income as expected from its loans, and was at risk of being unable to repay the amounts it had borrowed. The news that the bank had approached the government for support with its liquidity led within 24 hours to a public lack of confidence and concerns that savings were at risk, and the bank failed following a bank run as people rushed to withdraw their savings. It was the first British bank in 150 years to fail due to a bank run.
Nationwide Building Society is a British mutual financial institution, the seventh largest cooperative financial institution and the largest building society in the world with over 15 million members. Its headquarters are in Swindon, England.
Bendigo and Adelaide 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.
Alliance & Leicester plc was a British bank and former building society, formed by the merger in 1985 of the Alliance Building Society and the Leicester Building Society. The business demutualised in the middle of 1997, when it was floated on the London Stock Exchange. It was listed in the FTSE 250 Index, and had been listed in the FTSE 100 Index from April 1997 until June 2008.
The Bank of Queensland is an Australian retail bank with headquarters in Brisbane, Queensland. The bank is one of the oldest financial institutions in Queensland, having begun as a building society, It now has 160 branches throughout Australia, including 65 corporate branches and 95 "owner managed" branches.
St.George Bank is an Australian bank with its headquarters in Sydney. Since a 2008 merger, the bank has been part of Westpac, having previously been an independent legal entity. In 2010, St.George was deregistered as a company and ceased to be a standalone authorised deposit-taking institution.
Banking in Australia is dominated by four major banks: Commonwealth Bank of Australia, Westpac Banking Corporation, Australia and New Zealand Banking Group, and National Australia Bank. There are several smaller banks with a presence throughout the country, and a large number of other financial institutions, such as credit unions, building societies and mutual banks, which provide limited banking-type services and are described as authorised deposit-taking institutions (ADIs). Many large foreign banks have a presence, but few have a retail banking presence. The central bank is the Reserve Bank of Australia (RBA). The Australian government’s Financial Claims Scheme (FCS) guarantees deposits up to $250,000 per account-holder per ADI in the event of the ADI failing.
Suncorp Group Limited is an Australian finance, insurance, and banking corporation based in Brisbane, Queensland, Australia. It is one of Australia's mid-size banks and its largest general insurance group, formed on 1 December 1996 by the merger of Suncorp, Metway Bank and the Queensland Industry Development Corporation (QIDC).
The Adelaide Bank was a publicly listed bank with its head office in Adelaide, South Australia. It was established on 1 January 1994 from the Co-operative Building Society of South Australia Limited, which was Australia's largest building society as a result of a merger with the Hindmarsh Building Society. On 9 August 2007 it merged with Bendigo Bank, and Adelaide Bank shares ceased to be quoted on the ASX. Since 2008 the new entity has been known as the Bendigo and Adelaide Bank.
The Shire of Boonah was a local government area in South East Queensland, Australia, about 80 kilometres (50 mi) southwest of Brisbane. The shire covered an area of 1,921.6 square kilometres (741.9 sq mi), and existed from 1880 until its merger with parts of the Shire of Beaudesert and City of Ipswich to form the Scenic Rim Region on 15 March 2008.
The Shire of Moreton was a local government area in South East Queensland, Australia, located about 50 kilometres (31 mi) southwest of Queensland's capital, Brisbane. It represented an area surrounding but not including Ipswich, and existed from 1917 until 1995, when it merged into the City of Ipswich, City of Brisbane, and Shire of Esk.
Thomas (Tom) Welsby was an Australian businessman, author, politician, and sportsman based in Queensland. He was a Member of the Queensland Legislative Assembly from 1911 to 1915.
The Shire of Normanby is a former local government area in the south-east of Queensland, Australia. Its administrative centre was in Harrisville.
Queensland Brewery Ltd was a company that operated a brewery in Brisbane, Queensland, Australia.
P&N Bank is a division of Police & Nurses Limited and an Australian owned bank managed in Western Australia. Operating under a mutual model, P&N Bank provides retail banking services such as savings and lending products, insurance and financial planning services. With a branch network of 15 branches in Western Australia, P&N Bank also has a Perth based Contact centre, online banking facilities and is partnered with Cuscal, and is a provider of access to the New Payments Platform (NPP). As a mutual bank there are no third party shareholders, as distinct from a listed company, members who bank with P&N Bank and hold a share in Police & Nurses Limited are the owners of the Bank. P&N Bank is a member of COBA, the industry body that represents the credit unions, building societies and mutual banks in Australia and BCCM. P&N Bank is one of the majors sponsors of the Perth Wildcats.
Ipswich & West Moreton Building Society is a heritage-listed building society office at 45 East Street, Ipswich, City of Ipswich, Queensland, Australia. It was designed by Francis Drummond Greville Stanley and built from 1888 to 1950s by Peter Brown. It was added to the Queensland Heritage Register on 21 October 1992.
Suncorp Bank is a part of the Suncorp Group, with head offices in Brisbane, Australia. From its beginnings in 1902 as the Queensland Agricultural Bank, Suncorp Bank has grown into the fifth largest bank in Australia.
References
- 1 2 "Removals from the Official List 2000". Fact Book 2001 (PDF). ASX. p. 42. Archived from the original (PDF) on 2 February 2007. Retrieved 15 February 2007.
- ↑ "Ipswich & West Moreton Building Society". 8 December 2006. Archived from the original on 13 October 2004. Retrieved 15 February 2007.
- ↑ Ayling, Phil (15 December 1997). "Building society mergers to create provincial bank". Australian Banking & Finance . Archived from the original on 23 May 2009. Retrieved 15 February 2007.
- ↑ "AFIC Annual Report Building Society Review". Australian Financial Institution Commission . 1997. Archived from the original on 28 September 2007. Retrieved 15 February 2007.
- ↑ "Bendigo Bank and First Australian to merge". 5 June 2000. Retrieved 15 February 2007.
- ↑ "New director joins the board of Bendigo Bank". 1 March 2006. Retrieved 15 February 2007.[ permanent dead link ]
