He's Bullish About Them
Earlier one of the founders of Wizard, Mark Bouris mortgages have backed government plans to scrap the charges, saying that the decision was "both proper and appropriate to prevent consumers being locked into high interest rate".
"This measure will benefit consumers and enhance competition in the market," Bouris said. "The company fully supports the Treasury's proposals in this area."
Currently managing director of Yellow Brick Road, "said Bouris, however, that recovery costs for discount credit union loans to be confused with exit fees. "It is important to discounted loans continue to be available to Australian consumers to ensure fair competition."
Bouris is also bullish on the outlook for credit unions to form a "fifth pillar" banks in Australia. For the moment, Gateway Credit Union Yellow Brick Road financing credit union home loans, credit union credit cards and credit union personal loans and .
"It has been said that mutual societies and credit unions are" not up to the job ", do not have the strength to consist of a fifth pillar is the only" corner stores "," Bouris said. "I want to make it absolutely clear that the small corner stores works when there are enough of them."
Bouris said, "we have done it before," despite criticism in the 1990s, the credit for having a "disruptive business model".
Credit unions are up to the task, he argues, all the way to green loans. "Any suggestions otherwise are not just fodder for a personal agenda, but a direct challenge to our business model," Bouris said. "The inability of mutual is simply wrong."