Federal Treasurer credits CUA’s interest rate drop with putting pressure on banks
30 March 2010
In his Economic Note of 28 March 2010, the Federal Treasurer Wayne Swan made special mention of CUA’s reduction in the standard variable rate and the competitive pressure that smaller lenders could bring to bear on the big banks.
He also said he believed that credit unions and building societies had the capacity to provide a safe and competitive alternative to big banks.
You can read the full extract here.
