Newcastle Permanent Building Society
Encyclopedia
The Newcastle Permanent Building Society is a building society
based in Newcastle, New South Wales
in Australia
. It has total assets of $6.3 billion, the largest of any building society in Australia.
. The society was converted to a permanent building society in 1939.
Building society
A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially mortgage lending. These institutions are found in the United Kingdom and several other countries.The term "building society"...
based in Newcastle, New South Wales
Newcastle, New South Wales
The Newcastle metropolitan area is the second most populated area in the Australian state of New South Wales and includes most of the Newcastle and Lake Macquarie Local Government Areas...
in Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
. It has total assets of $6.3 billion, the largest of any building society in Australia.
History
The society was founded in 1903 as the Newcastle District Starr-Bowkett Building Society, as a Starr-Bowkett SocietyStarr-Bowkett Society
A Starr-Bowkett Society is a co-operative, non-profit financial institution that provides interest-free loans to its members and operates on the principle of mutual self-help as espoused by Dr T.E...
. The society was converted to a permanent building society in 1939.