Login
iscover
On Thursday, Defence Bank highlighted a number of successes in recent months, measured against the major commercial lenders.
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
The institution noted record member support, recording a Net Promoter Score of +51, well ahead of the major banks. Home loan growth has also exceeded system growth by more than three times.
Defence Bank chief executive David Marshall said, “These figures are a strong endorsement of not only Defence Bank but the way we do business, including during this unprecedented COVID-19 crisis.
“We’ve always been a people-based business since we started more than 45 years ago. That’s the stark difference with our member-owned approach; we have only one focus which is our members, not shareholders or chasing higher returns.”
Marshall also said that Defence Bank's members have supported it since before the COVID-19 crisis, hit, and that the bank has "redoubled our efforts to ensure our members are supported and looked after".
“Our Net Promoter Score has also increased from +33 in May 2019 to +51 today with more members actively promoting Defence Bank to friends and family, which is an extraordinary result for our hard-working team and their dedication to our members. This result is even more pertinent when you compare our results to the major banks, which have been either negative or barely positive in recent times,” he said.
Marshall also said that throughout the current crisis, Defence Bank has introduced a member care hotline to respond to financial hardship and provide an immediate response to the pandemic and its impact on members.
As part of its commitment to its members, Defence Bank also supports the Defence Bank Foundation, which provides much needed assistance to serving and former Australian Defence Force members living with injuries or illnesses such as post-traumatic stress disorder (PTSD).
“Defence Bank is a profitable business but has a laser-like focus on its members, which is a different approach to other banks," added Marshall.
“We look forward to continuing to welcome new members who will see the difference that our people-focused delivery of banking products and services offers them.”
