P&N Bank

Police & Nurses will undergo a name change after it was granted approval from the Australian Prudential Regulation Authority to trade as a mutual bank.

Perth-based lender P&N bank has pre-empted the Reserve Bank of Australia on interest rates, cutting the rate on its three-year fixed rate home loans to 5.1 per cent.

Fred Huis has announced that he will step down as chief executive officer of P&N Bank later this year, after more than 30 years in the position.

Mutual bank P&N (formerly Police & Nurses) has appointed Elizabeth Lawton as legal counsel.Ms Lawton has two decades of experience in corporate roles, both as in-house counsel and as company secretary.

Long-term ANZ manager Mike O’Neill has been appointed to the board of P&N Bank, formerly known as Police & Nurses.

Western Australian business chiefs Kevin Gallagher, Gina Rinehart and Richard Goyder were recognised in separate awards events across the country last night.

Perth's CBD office market is still proving to be attractive to offshore investors, with the office building at 130 Stirling Street sold to a Singaporean firm for $90 million.

Tony Mulder has joined P&N Bank in the role of manager, credit management.Mr Mulder comes to the bank after 12 years at Austral Mercantile Collections, a subsidiary of QBE Insurance Australia. 

P&N Bank has appointed Mike Purves as senior manager of program & project delivery.Mr Purves was previously project director for Canon, and has also worked for Royal Bank and the Bank of Scotland. 

P&N Bank has appointed Erik Fenna as its new chief information officer.Mr Fenna was previously chief executive of LIXI for six years and prior to that, head of IT at Australian Finance Group. 

P&N Bank has appointed Selina Duncalf as its new general manager strategy and business transformation.Ms Duncalf was formerly executive general manager corporate services and HealthGuard at HBF, and prior to that had a 15-year career at Bankwest. 

P&N Bank has appointed Sean FitzGerald as its new general manager, retail banking and distribution.

Soft economic conditions have resulted in P&N Bank taking a significant hit to its earnings with the credit society reporting a 30 per cent fall in profit.

Western Australia is leading the country when it comes to the cooperative and mutual business sector, with three local operations named amid the nation’s five largest.

One of Western Australia’s last local credit unions, Unicredit, is moving to merge with Sydney-based Teachers Mutual Bank this year, joining a long-term trend towards scale in the lending industry.

Pindan Capital has bought residential land estate The Reef at Two Rocks, in a deal understood to be worth around $37 million, the third big purchase of prime coastal land in Western Australia recorded in 2015.

Financial planning technology group Decimal has formed a partnership agreement Perth-based P&N Bank as it seeks to expand its service offering to a broader range of members.

Financial planning technology group Decimal Software has won a contract to supply its services to Centrepoint Alliance for an undisclosed sum.

Teachers Mutual Bank had a 15.4 per cent uptick in net profit in the 12 months to June 30 after strong growth in deposits and its loan book.

They don’t exist to make money, but Western Australia’s largest not-for-profit businesses, including HBF, RAC and St John of God Health Care, have all recorded increased revenue, according to BNiQ research.

The Western Australian cooperative and mutuals sector continues to perform strongly on the national stage, with WA accounting for four of the country’s top 10 co-ops and mutual enterprises, a new report has found.

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