In response to a growing need for rural and regional customers to access reliable, local business and personal finance, Elders is further expanding its financial services offering.
Elders has expanded its range of in-branch financial services to include farm management deposits, term deposits, cash management accounts and savings accounts. These products will be marketed under the Elders Finance brand in a white label partnership with Auswide Bank.
This will compliment Elders ongoing employee investment in regional and rural based Finance Relationship Managers, who offer agricultural and business finance through a brokerage model, with access to all major Australian Banks.
These products build on the traditional offerings which includes including home and asset finance loans, livestock in transit delivery warranties, livestock funding and the Rural Products Prepayment Program.
Chief Executive Officer Mark Allison says, with both loan and deposit products now part of the service offering, Elders will be able to provide a greater breadth of service to customers.
“Since 2017, we have seen 36 per cent of bank branches in regional Australia close, having profound impact on communities already confronted by the tyranny of distance to access essential services,” said Mr Allison.
“Elders is the most trusted agribusiness brand in rural and regional Australia, so it makes sense that we are able to offer products as personal and essential as banking services, through our trusted network of branches around Australia.
The expansion of our banking services will allow existing and new customers throughout rural and regional Australia to access a range of financial products geared to support their personal and business goals.”