Greater Bank’s story began in 1945, when home ownership felt out of reach for many Australians. A group of Newcastle locals, determined to create a fairer way to save and borrow, established the Greater Newcastle Co-operative Permanent Building and Investment Society. Unlike traditional banks, this co-operative allowed members to pool their savings, giving everyday Australians the opportunity to secure interest-free home loans through a lottery system.
As demand for fairer banking grew, so did Greater Bank. By the 1960s, Greater had expanded beyond Newcastle, opening its first branch outside the region in Gosford in 1968. Over the following decades, it became one of Australia’s most trusted customer-owned banks, evolving with its communities while staying true to its cooperative roots.
In 1993, the Greater Newcastle Co-operative Permanent Building and Investment Society dropped ‘Newcastle’ from its name, marking a new era of growth as it expanded across New South Wales and Southeast Queensland. Then, in 2016, it evolved once again, rebranding as Greater Bank to better reflect its broad range of products and services.
Throughout history, Greater Bank has remained committed to reinvesting in the communities it serves. To celebrate its 75th anniversary in 2020, Greater Bank launched the Growing Greater Together initiative, planting 75,000 trees across regional NSW – a legacy project that embodies the organisation’s dedication to a sustainable future.
In 2023, Greater Bank entered a new era, merging with Newcastle Permanent to form Newcastle Greater Mutual Group. This historic move created one of Australia’s largest customer-owned financial institutions, ensuring Greater Bank remains strong, competitive, and ready to serve future generations.
Beyond banking, Greater Bank is passionate about empowering future leaders and building stronger communities. It helps young people build financial confidence through programs like the Greater Bank Finance Academy, supports grassroots sports to promote healthy lifestyles, and celebrates local culture through events that bring people together.
Through the Greater Charitable Foundation, Greater Bank backs programs that improve health and wellbeing, support seriously ill children and their families, and give at-risk youth the skills and opportunities they need to thrive.
From a grassroots co-operative helping locals buy their first homes to a modern bank with a deep community focus, Greater Bank has never lost sight of its founding purpose – banking that puts people first. As Greater Bank looks to the future, its legacy remains the same: empowering Australians to grow greater, together.