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A new report has found that the business model of credit unions in Australia is stable and sustainable.
According to the Moody’s report, released yesterday, the strength and stability of the sector is underlined by low-risk loan books.
However, the report also found that the sector is subject to intense competition thanks to tight funding conditions.
“Intense competition, predominantly for deposits, is driving up funding costs and will remain one of the key challenges for credit unions with limited alternative funding sources due to the reduced demand in the RMBS market,” the report said.