Aussie store growth as banks close branches

Media release

12 March 2021|2 minute read

 

Australia’s leading mortgage broker, Aussie, is set to increase the number of its stores across Australia by 24 stores to a total of 244 over the 2021 calendar year, amid banks continuing to shut branches in city and country areas.

The growth plans follow another period of strong performance across the business, with last month being a record February settlement month and the highest lodgement quarter on record.

Aussie’s retail channel also delivered the highest lodgement month on record in February 2021 and year to date, the channel accounts for over 70 per cent of Aussie’s total settlement value and is at 8 percent above the settlement target for FY21.

Despite the complications caused by COVID lockdowns, Aussie opened 8 new retail stores during 2020; facing additional safety requirements and restrictions impacting construction, recruitment, merchandising, training, and store operations.

The new franchise stores to be added to the Aussie network in 2021 will contribute approximately 86 new jobs across local communities. Aussie is heavily recruiting to add to their broker network, many who are  working hard to meet the very strong demand for property – particularly among first home buyers.

Aussie CEO, James Symond said, “We are bucking the trend among banks to trim their branch networks; as we recognise we are a customer driven growth organisation, and our new stores reflect a desire to be very accessible to our customers in capital cities and local communities.

“These stores are about being a fabric of the community, showing strength of the Aussie brand and providing quality old fashioned face to face service to each community.

“We plan to keep growing our retail channel with a goal to reach 300 stores and 1,200 brokers by 2023, while enhancing our digital offering.

“Our new stores are coming to life in convenient, high-density locations on the doorstep of many Australians with property goals,” he added.

“We’ve announced new locations such as Macquarie Park, Vincentia, Bankstown, Bella Vista, Ingleburn, Dickson, Ballarat, Mudgeeraba, Ashmore, Coomera, Buderim, North Lakes, Blackwood, and Mordialloc – all which are part of our plans to expand our footprint into new suburbs and regional locations.

“This extended reach is very exciting for us and for customers who are looking for expert home loan help more than ever.”

Mr Symond concluded, “The growth of our broker and store networks are providing people the opportunity to join Aussie from both financial and non-financial backgrounds, with 198 recruits hired and trained during 2020 and more than 220 projected to join in 2021.”


About Aussie

Aussie was founded in 1992 by John Symond and was widely credited for bringing competition to the Australian home lending industry. For nearly 30 years, Aussie Brokers have put progress within reach of more Australians, helping 1.5 million customers with their home loan. Today, Aussie has the largest retail footprint of any mortgage broker brand in Australia.

Media enquiries

Caroline Raffan
Aussie | 0409 914 614
e:caroline.raffan@aussie.com.au