“We want to sell a better mortgage”
QT Mutual Bank and RACQ announced plans to establish a banking subsidiary within the RACQ Group for more than 1.5 million RACQ members in Queensland.
RACQ Group CEO Ian Gillespie and QT Mutual Bank CEO Steve Targett said “We want to reach into their customer base and sell them a better mortgage product.
Mr Gillespie said the new lender would be a trusted alternative to the “profit-driven banks”.
A formal merger of the two organisations is expected to be complete before the end of 2016.
Source: Mortgage Business