2010 Finance Guide: Newcastle Permanent – "Best of the Best" for small business term loans

The building society took out the Cheapest Small Business Term Loans Award, with its product offering found to be “considerably cheaper” than its nearest competitor in the non-bank section.

2009 was a year of successes for Newcastle Permanent, with the building society also winning four AFR Smart Investor Blue Ribbon Awards, including Home Lender of the Year; the Australian Banking and Finance Awards Building Society of the Year award; and three additional Money Magazine Best of the Best accolades.

Chief Executive Officer Terry Millett said the awards were acknowledgement of the high quality products and competitive pricing Newcastle Permanent delivers to members.

“Winning the Money Magazine Cheapest Small Business Term Loans Award is great news for our business members,” Mr Millett said.

“Our broad range of products delivers significant benefits to our members in terms of better interest rates, lower fees and market leading features and this award confirms just how competitive we are in the business sector.”

Newcastle Permanent also won accolades for its Rapid Saver savings Account, the Premium Plus Home Loan Package and a new secure internet payment authentication system “VerifID” in the Money Magazine awards.

Earlier in the year, Newcastle Permanent was awarded the prestigious title of Building Society of the Year in the Australian Banking and Finance (AB&F) Awards.

It was the second time Newcastle Permanent was named Building Society of the Year, having also won the award in 2007.

The AB&F awards were judged by a panel of industry experts, including senior representatives from organisations such as Macquarie Bank, HBOS Australia, St George Bank, Financial Services Institute of Australasia and PricewaterhouseCoopers.

In August, the building society out-performed all Australian banks, building societies and credit unions to be recognised as Home Lender of the Year in the Australian Financial Review’s Smart Investor Blue Ribbon Awards.

It was the first time a bank had not won the award, confirming Newcastle Permanent’s role as a genuine alternative to traditional banks.

In addition, in 2009’s CANSTAR CANNEX ratings, Newcastle Permanent was the only financial institution to receive a 5-star rating in every home loan category.

Mr Millett said 2009 had been a positive year for Newcastle Permanent and winning so many prestigious awards was just the “icing on the cake”.

“It is rewarding to know that our products and services are recognised for their excellence among our peers,” he said.

“We see members of the business community every day looking for viable alternatives to the mainstream banks. They want something that is large enough to meet their financial needs of their business but also offers excellent value and makes good financial sense.

“Newcastle Permanent continues to strive for excellence and it’s great to know that the building society that has always been here for the community is also the smart choice for financial needs for both business and personal members.

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