Comments on: MANAGING OUR “MARGIN” SQUEEZE http://www.wearelistening.com.au/2009/02/managing-our-%e2%80%9cmargin%e2%80%9d-squeeze/ Companion Credit Union Blog site Fri, 13 Aug 2010 04:12:06 +1000 http://wordpress.org/?v=2.8.6 hourly 1 By: Ray http://www.wearelistening.com.au/2009/02/managing-our-%e2%80%9cmargin%e2%80%9d-squeeze/comment-page-1/#comment-79 Ray Thu, 12 Feb 2009 23:57:14 +0000 http://www.wearelistening.com.au/?p=248#comment-79 Thanks for your question David, We constantly review the interest rates on all of our products to ensure we remain as competitive as we possibly can. As I said in a recent article to Companion staff, if once these high cost term deposits have repriced and we find that our margin has been restored to at or above the level of August/September last year, then we would certainly consider passing on that benefit on to our members. That's one of the benefits of being a mutually owned financial institution - we have no business imperative to generate significant profits and endeavour to pass on the benefits to our members to the maximum extent possible. Regards Ray Thanks for your question David,
We constantly review the interest rates on all of our products to ensure we remain as competitive as we possibly can. As I said in a recent article to Companion staff, if once these high cost term deposits have repriced and we find that our margin has been restored to at or above the level of August/September last year, then we would certainly consider passing on that benefit on to our members.

That’s one of the benefits of being a mutually owned financial institution – we have no business imperative to generate significant profits and endeavour to pass on the benefits to our members to the maximum extent possible.

Regards
Ray

]]> By: David Willcox http://www.wearelistening.com.au/2009/02/managing-our-%e2%80%9cmargin%e2%80%9d-squeeze/comment-page-1/#comment-78 David Willcox Thu, 12 Feb 2009 11:58:32 +0000 http://www.wearelistening.com.au/?p=248#comment-78 Hi Ray Do you think that when deposits are re-priced to the levels we see today and balance is restored, that Companion will be able to review interest rates on loans? Thanks Hi Ray

Do you think that when deposits are re-priced to the levels we see today and balance is restored, that Companion will be able to review interest rates on loans?

Thanks

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