Corporate Profile
Our Business
Based in Rockhampton, Queensland, The Rock Building Society Limited was established in 1967 and was listed on the Australian Stock Exchange in 1992.
The Rock is an Approved Deposit Taking Institution, governed by the Australian Prudential Regulation Authority.
The Rock has built a very sound reputation in Central Queensland as a home loan specialist, offering superior personal service at very affordable prices. We provide retail financial services that range from home loans to savings and cash management accounts to insurance.
With our strong customer focus, we provide these products and services to not only meet our customers’ needs, but also to exceed their expectations of personal service, convenience, speed and value.
We can respond quickly to changing customer needs and we empower our people to make decisions. This strategy has seen the company expand its lending operations outside Central Queensland and now extends from Cairns to South East Queensland.
Our Operations
The Rock maintains branches and mini-branches across regional Queensland, from Cairns to Belmont. The Rock’s loan customers are located throughout Australia, with approximately 50% based in Queensland.
The majority of The Rock’s depositors are based in Central Queensland. Customers can have their pay electronically credited to their account with The Rock and can access their funds using ATM or EFTPOS terminals, BPAY, telephone banking, internet banking, or by personal cheque.
The Rock will continue to research, develop and build its products and services in conjunction with its customers to the mutual benefit of both.
Our Funding
The Rock funds it's lending from a combination of savings accounts, term deposits and wholesale funding sources, including securitisation. Since early 2009, The Rock has diversified its funding portfolio, significantly reducing its reliance on the securitisation market. This diversification has included the introduction of an attractive cash management product, the establishment of a Negotiable Certificate of Deposit (NCD) program, and an internal securitisation which has allowed it to take advantage of repurchase transactions with the RBA.
Our securitisation program enables us to raise funds by selling home mortgages into Special Purpose Securitisation Vehicles which, in turn, issue notes to investors. The Rock entered the securitisation market in November 1998 and has been a regular issuer of Residential Mortgage-Backed Securities (RMBS) since 2001, and has built a strong reputation with investors in this market.
Public Disclosure of Prudential Information
The Rock is an Authorised Deposit Taking Institution (ADI) regulated, as are all banks and financial institutions, by the Australian Prudential Regulation Authority (APRA).
Responsible management and long-term expertise ensure The Rock continues to maintain its financial strength, in compliance with all legal and social obligations.
Our Mission
The mission of The Rock is to make a positive difference to our customers, our people and our communities by providing a trusted financial services alternative.
Vision
The Rock's vision is to be the best Financial Services alternative. This means:
- For our Shareholders: the best shareholder value-add amongst our Credit Union and Building Societies peer group.
- For our Customers: the highest level of customer satisfaction in our markets and products.
- For our People: the highest level of employee engagement.
- For our Communities: the strongest level of support.
We abide by the values of honesty, courage, respect, fairness, caring and trust.