Putting pressure on banks

LIFE is going to get tougher for the big four banks in Orange, according to Newcastle Permanent chief executive officer Terry Millett.

The doors of its 56th branch opened in Summer Street yesterday.

Mr Millett said their location in Orange was an opportunity to put pressure on the four big banks.

“We really want to give them a tough time,” he said.

Mr Millett said the company would focus its attention and marketing on the larger banks rather than the city’s credit unions.

“The people of Orange will have access to a genuine alternative to the traditional banks, with a broad product range, but with exceptional quality and better value,” he said.

“It’s good for you and good for your community.”

Mr Millett said they planned to give back to their new community through grants, with $44,000 already donated to Orange PCYC and $6500 to Orange Mobile Learning Centre.

Branch manager Erin McVicar will bring 15 years of experience to her role and is looking forward to working with the community.

“I’m looking forward to people knowing who we are,” she said.

Mr Millett said Newcastle Permanent was the market leader in financial institutions in the Hunter region and hoped this to occur in the central west as well.

The opening of the Orange branch will be closely followed by one in Bathurst on April 2 and in Mudgee not long after.

“We see the central west as a really good location for us,” Mr Millett said.

He said Newcastle Permanent was recognised at home lender of the year in Money magazine’s 2013 consumer finance awards and Financial Review’s Smart Investor blue ribbon awards.

Newcastle Permanent is at 205 Summer Street.

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