CUA and Professional Investment Holdings Limited relationship to offer a real banking alternative
8 June 2010
CUA and Professional Investment Holdings Limited (PIH) have entered into a business relationship to distribute CUA banking products and services through the PIH network of accountants and financial advisers.
CUA is Australia’s largest customer-owned financial institution and PIH is Australia’s leading independently-owned network of accountants and financial advisers. Combined, PIH and CUA have a customer-base of more than 1 million Australians.
The relationship will offer Australians a range of competitive banking products and services that present a real alternative to the major financial institutions.
The first stage of the relationship is underway to test acceptance of CUA products among the PIH network and their clients. CUA and PIH anticipate a more extensive national roll-out later in the year.
Professional Investment Holdings CEO, Robbie Bennetts said, “We approached CUA because their customer-owned model complements the independent ownership of PIH. We are both offering a real alternative to the big financial institutions that dominate Australian banking and wealth management.”
CUA Group General Manager – Strategy and Marketing, Andrew Hadley said, “We are promoting competition by providing Australians with greater choice of banking products and services through their PIH accountant or financial adviser. In doing so, we will further diversify the sources of funding for CUA.”
