Guest Speaker

Andrew Saxby, who is no stranger to Rotary or our club gave a very interesting address on the Hume Building Society with the latter portion on interest rates. The first 10 minutes was packed with facts and figures too numerous to be included.

> Hume has been in operation for 57 years > It has 55000 customers/ members (the customers own the society). > As at June 2011 there were 167 ADI’s (Authorised Deposit-­‐taking Institutions in Australia of which 54 are banks > Hume standing is 69/167 > Hume has $820 Million in assets and $52 million in reserves > Hume has 138 employees > 42% of Albury population has a relationship with Hume. > Surrounding towns relationship: -­‐ 42% Corowa, 32% Wodonga, 6% Wangaratta and although only in the market for 12 months 1% of Wagga. > Andrew went on to talk about interest rates and his thoughts about the market.