As we enter the last quarter of the calendar year, I’m pleased to share with you some positive news on business banking confidence trends, along with two BCU Bank updates.
Business confidence trends
It’s encouraging to see business confidence levels starting to trend upward after previous challenges, signalling resilience in the economy.
The latest Roy Morgan Business Confidence Insights shows an uplift in sentiment among Australian businesses, indicating stronger demand and a positive outlook across many sectors.
According to the insights, businesses are feeling more optimistic about future economic conditions and their own financial position with 62% (up 2.8ppts) expecting ‘good times’ – the highest figure for this indicator for over three years. This positive shift reflects growing optimism about investment, hiring, and future growth.
What the uplift means for the future
This uplift signals greater stability and growth across the economy, creating new opportunities for business owners. Lower borrowing costs due to the recent August rate decrease also position businesses to capitalise on investment and expansion by:
- Accessing finance to invest in new equipment, technology, and staff, or refinance existing debt to reduce monthly costs.
- Building on business capabilities by investing in training, improving business processes, or implementing new systems to improve efficiencies.
If you need assistance with lending or wish to discuss business opportunities, our Relationship Managers are here to provide you with insights and support to make the best decisions for your business.
Exploring a potential merger with Great Southern Bank
You may have seen the recent news of BCU Bank (Police and Nurses Ltd) and Great Southern Bank entering a Memorandum of Understanding (MoU) to explore a possible merger from now into 2026.
By combining our strengths with Great Southern Bank in coverage, expertise, cyber security and technology, we would become stronger, more resilient, and be better positioned to deliver the enhanced products, services and security that you expect.
Nothing changes for you right now. You can continue to use your accounts, branches, and contact centres as usual. The merger will only proceed if it is approved by regulators and supported by our members via a vote.
As always, you will remain our key focus. If the merger proceeds, the combined organisation remains committed to the essence of a 100% customer-owned model.
Leadership update
This will be my last newsletter as I have made the decision to retire and spend more time with my family. I have really enjoyed my time with BCU Bank, and it has been a privilege to lead the Business Banking team in delivering on your needs over the time I have been here.
As I reflect on the last three plus years, it has been great to see the business grow and deliver on its customer value promise to you, to be there when you need it, and develop trusted relationships, which is what our business is about.
Having spent most of my career in commercial banking, I’ve found working in the mutual bank sector especially rewarding. It’s where I can truly focus on what matters most to our customers – genuine person-to-person engagement and trust.
As you continue your own business aspirations, I know the team remain committed to supporting you and will continue to provide you with valued insights and support going forward.
With my departure, Darren O’Hara will assume the role of National Head of Business Banking for the Group. As a very seasoned finance professional, the business will be in good hands under his leadership. He remains fully committed to continuing the strong, relationship-led approach we’ve developed within the business, while supporting you into the future and staying in touch.
Sincerely,
Jacqueline Ryan
Chief Business Banking Officer