Lender review

St George

LoanCaddie Opinion

Borrowers should feel a level of familiarity with St George since is a part of Westpac. This also has its disadvantages as it also has a typical culture of a big four major bank. As with the other major four banks, Australians have a love/hate relationship with Westpac. There is a disdain for the major banks but Australia cannot live without them. Australian financial regulation protects the four major banks from takeover making them highly profitable and uncompetitive (akin to a utility company). Although they are strongly incentivsed by profit, they also operate on a social license which means they cannot ignore the demands of the government. Hence, although we reluctantly put up with their poor service levels, if there is a financial institution that is going to help Australian's out of a tough financial position, it will be one of the four major banks.

Facts and lender background

The St. George Co-operative Building Society Ltd. was formed on 6 May 1937 in the Sydney suburb of Hurstville. Since a 2008 merger, the bank has been part of Westpac.


Westpac has total assets of about $900bn.

Credit Rating

Westpac is rated AA- by S&P. The Australian Government's guarantee on deposits under the Financial Claims Scheme applies to deposits held with Westpac.


St George is a part of Westpac. Westpac is publicly listed on the ASX


30% of Westpac's funding is from the wholesale capital market.

Customer service
Product Review Rating

average is 2.1 / 5

Branch network

You are able to transact at more than 3,200 Australia Post outlets that display the Bank@Post sign. This provides you with real-time deposits and the ability to draw cash.

Internet banking

Internet banking is available.


Customers can withdraw cash free of charge from any of the major banks ATMs.