Local leader to represent 6 millions Australians

Hume Building Society CEO Andrew Saxby, has been elected Chair of Abacus, the national industry body responsible for mutual building societies, credit unions and friendly societies.

Hume Chairman, Ulf Ericson, said that it was an incredible accolade and one very much deserved by an outstanding and well respected leader. “We are very lucky at Hume to not only have a great team, but to have a leader of Andrew’s calibre.”

Earlier this year, Mr Saxby was a national finalist in the prestigious Australian Banking & Finance Award for Financial Services Executive of the Year.
Mr Saxby was humbled by the appointment and said today that accepting this appointment was only possible due to the outstanding strength of Hume, its Board and leadership team and the efforts of Hume staff. “They make me look good!” Mr Saxby said.

Abacus – Australian Mutuals is the industry association for 153 mutual building societies, credit unions and friendly societies. The sector is a key part of the Australian banking landscape and provides a real alternative to the banks. The sector currently meets the needs of over 6 million Australians and has over $70 billion in assets while operating under the same regulations as the banks.

“The mutual sector aims to provide better service, great products and excellent convenience” explained Mr Saxby. “Mutuals are owned by those that bank with them, their members, and therefore don’t have shareholder needs to satisfy. Dividends are not paid, but instead any benefits are passed back to the members through lower fees and better rates.”

“The mutual sector is a very rewarding sector to work in and to be able to participate in the industry at this level is an opportunity I am very much looking forward to” said Mr Saxby.