Gateway Bank: An Introduction

Where did bankers used to do their own banking? why it was with Gateway Bank! In this Podcast, Dien speaks to Arun Gupter (Manager Third Party Sales) and Zeb Drummond (Head of Customer Operations) about the Bank that has a Big Heart!

Founded in 1955, Gateway Bank is now one of Australia’s leading customer-owned banks. As a mutual bank they put their members/customers first. Profits are reinvested to benefit their members rather than shareholder return. Gateway Bank have a long track record in the broker channel, entering in 2009 and are grateful for the support they have received from brokers over the past 12 years. Gateway Bank have built a broad and loyal broker following, thanks to their competitive rates and of course their people – who provide their broker network with a reliable, proactive, and bespoke one-on-one service.

Given SLAs (Lender turnaround times) are a hot topic right now, we discuss what brokers should expect when they deal with Gateway Bank. In addition, we discuss how their team members assess applications on an individual basis, carefully considering each one, rather than relying on credit scores, to ensure they reach a mutually beneficial outcome for everyone. There is no such thing as an "auto decline" which can leave a broker frustrated in some circumstances.

Another topic which is pretty hot at the moment is the Government’s First Home Loan Deposit Scheme. Gateway Bank has allocations and have had great success in helping brokers and their first home buying clients access the Scheme and buy their first home. Family Guarantees can also be used for investment purchases as Gateway Bank understands that First Home Buyers may use this method as a stepping stone to get into the property market.

Gateway Bank understand and respect the sanctity of the relationship between brokers and their clients and are always mindful of this when designing their market-leading, competitive products, or interacting with broker-introduced members. Brokers will never find themselves losing out on a better rate, because they always offer the same deals to their direct customers as they do for their broker channel. Of course, they’ll always refer broker clients back to brokers for top-ups and other enquiries so that a Broker can maintain the integrity of their relationships.