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Old Mortgage News

GE Money looks to do more broker business

Sunday 6th of August 2006
Superbank was established as joint venture between Australian bank St George and Foodstuffs New Zealand with the aim of selling home loans and deposits through Progressive’s supermarket chains.

However the bulk of Superbank’s 2200 customers came through brokers.

“I think (supermarket distribution) didn’t work for them,” GE Money managing director Jim Cock says. However, he didn’t discoun...

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