NGM Group is building its future on 200 years of trust

Trust has never been a more precious commodity than it is in 2023. So when Greater Bank and Newcastle Permanent merged under the banner of NGM Group with more than 600,000 members and US$12.7 billion in assets, CEO Bernadette Inglis had trust as a primary focus.

"We’re operating in an environment where trust needs to be hard-earned," she says. "And because trust is a bedrock of our business, we took to the challenge with relish."

The 1 March merger instantly made NGM Group a regional powerhouse, as the largest capital base in the mutual sector and the 10th-largest Australian-owned bank for household deposits.

This means the business is able to navigate the complexity of new banking regulations and compliance, as well as meet increasing consumer demands for enhanced digital options and security.

"Our merger has us in a place of incredible strength. We’ve kept our ability to be nimble, but with increased size and scale to deliver the banking services our customers need today and will want tomorrow," Inglis says.

"All of which is to say, we’re well positioned to compete with any bank and to offer our customers great value and security, coupled with award-winning service. And one area where we stand apart from the rest of the pack and have a real competitive edge is trust."

Trust from the beginning

Both Greater Bank and Newcastle Permanent were born of a simple purpose: to help local people buy a home.

Over the years, both brands have helped build regions and communities that are vibrant and filled with opportunity – first in the Hunter region, then gradually expanding to span from the Illawarra to the Gold Coast.

More than just offering quality banking services, these customer owned institutions embedded themselves into the communities they serve, becoming part of the fabric of day-to-day life.

"Providing trusted, reliable banking services is our core business, but building our reputation of trust and reliability goes beyond having award-winning customer service and market-leading digital products."

Collectively, NGM Group’s retail brands and charitable foundations support a wide range of organizations, activities and events. New research commissioned by the Customer Owned Banking Association suggests that customer owned banks support local communities at a per-customer rate three times that of the average for major banks.

For NGM Group, this equates to more than US$2.9 million that’s funneled annually into local communities.

"A small sample of the local organizations we support include grassroots movements such as Surf Lifesaving, Northern NSW Football and the Hunter, Central Coast and Western Region Academies of Sport," Inglis says.

"We also take the lead on academic endeavors such as the Greater Bank Finance Academy, a financial literacy outreach program delivered by the University of Newcastle; the Indigenous Storytellers Scholarship, which aims to celebrate, sustain and grow Indigenous art and design; and the Newcastle Permanent Primary School Mathematics Competition, which is now in its 43rd year of encouraging and rewarding young mathematicians in regional NSW.

"Providing trusted, reliable banking services is our core business, but building our reputation of trust and reliability goes beyond having award-winning customer service and market-leading digital products."

"Trust is not a set-and-forget commodity," Inglis explains. "It is earned and maintained every single day in every interaction we have with our customers and with, more broadly, our communities."

Two brands, 200 years of collective heritage

Throughout the changes inevitable with the merging of two companies, NGM Group has been rock-solid in its commitment to maintaining both iconic brands.

"Between Greater Bank and Newcastle Permanent, we have more than 200 years of collective history," Inglis says. "It’s a major reason we are pursuing a multi-brand strategy – both brands are imbued with a level of trust earned over decades. That trust is priceless."

"While we’re tremendously proud of our history, we’re not resting on our laurels."

With centuries behind NGM, she’s excited about what’s ahead. There are big plans in the works, set to begin rolling out soon.

"While we’re tremendously proud of our history, we’re not resting on our laurels," Inglis says. "We see our history as the base on which we’re building our future – for both brands."