Business
28 April, 2024
Mighty milestone for small institute
A CAIRNS banking institution is celebrating 125 years of service and adapting with the times.
Cairns Bank marked the milestone this week and still maintains a strong presence in the Cairns CBD.
Chief executive officer Liam Tiernan said “we’re very proud of the role we’ve played over the decades as a 100 per cent customer-owned bank, and, for one of Cairns’ oldest institutions, we reckon we’re looking pretty good for our age”.
“While we continue our long tradition of helping the community, we’re always finding ways to innovate and move with the times,” he said.
“We’re now embarking on the next stage of our journey that will deliver exciting new digital products and services for our customers. So, watch this space.”
Mr Tiernan said among the innovations were lenders on the road and loan applications online, but the bank continued old fashioned branch service and staff who answered phone calls – not a call centre.
“During our 125 years of helping locals buy homes and manage their money, we’ve earned the trust of more than 20,000 customers from all walks of life,” he said.
“At Cairns Bank, we exist to serve our customers and we’ve been there every step of the way, through the good times and the bad.
“For 125 years, we’ve been the bank of choice for the people of Cairns and the surrounding region, a bank they can rightly be very proud of.
“We’re local, helpful, and 100 per cent customer owned – it’s the way banking should be.
“One thing that will always remain the same though is our personalised services, which is at the heart of everything we do.”
Mr Tiernan said the bank was flexible to help people with their financial needs – not just ticking boxes – and could lend up to $1.8 million.
The bank has 4500 members but still served customers from afar.
“We’ve just helped someone who moved away with a home loan in Melbourne,” Mr Tiernan said.
Last year in May it even reduced interest rates after the Reserve Bank increased them.
The bank has $138 million in assets, $178m in loans and $120m in deposits.
