MEMBER BANKS
Introducing Banking Association Member
Finbond Mutual Bank
Q&A
Name of bank: Finbond Mutual Bank
Who owns the bank: The fundamental “Mutual Bank” principle
is that a “Mutual Bank” is owned by its depositors and managed
for the benefit of its depositors. Finbond Group Limited (FGL)
which was Finbond Mutual Bank’s first depositor, capitalising the
bank with the required regulatory capital through the acquisition
of permanent Class A shares, is Finbond Mutual Bank’s majority
shareholder.
Core business and target market: Finbond Mutual Bank conducts
its business through two divisions focused on, Investment and
Savings Products and Micro Credit Products. Investment and
Savings products, which offer an above-average rate of return,
are offered nationally to investors and pensioners looking for
guaranteed, higher fixed-income in the current environment of
depressed yields. Finbond’s strategy is to stimulate savings through
offering superior investment and saving solutions by providing
client shareholders with better interest rates, better products and
better service. Micro Credit Products are offered nationally through
Finbond’s 170 branches in South Africa to the underbanked and
underserved market of more than 40% of the adult population in
South Africa actively seeking credit solutions but remaining largely
unattended and underserviced.
Vision: To be the leading Mutual and Savings Bank in South
Africa, improving the quality of life of our clients through their
participation in saving together, growing together and ownership of
their own community bank.
Core values: Finbond Mutual Bank exists to improve and transform
the lives and livelihoods of our clients by availing them of modern,
inclusive banking products and services that benefit and empower
them. These are:
• Integrity – To maintain social and ethical norms in all activities.
• Human Dignity – To at all times treat people with respect
and consideration for their unique needs, feelings and opinions.
• Excellence – To be excellent in everything at all levels,
at all times.
• Accountability – To accept responsibility for the work delegated
and execute it with excellence.
• Teamwork – To strive for the greater benefit of the organisation
through an appreciation of the role that each employee plays in
achieving the overall goals.
Dr Willie van Aardt, CEO, Finbond
CSI: Finbond contributes to and is proud to be associated with
Tshwane Place of Safety Association (TPOSA), which focuses on
providing orphaned and abandoned babies and babies infected with
HIV with good homes, frail care and shelter. For further info see
www.placeofsafety.org.za.
THE CEO: DR WILLIE VAN AARDT
For further information contact
Finbond Mutual Bank on
012 460 7288 or visit
www.finbondmutualbank.co.za
Previously the co-founder and an executive director of
Thuthukani Group Limited, a JSE listed micro-finance and
debt collection company, van Aardt has held the positions
of Legal Consultant to Sanlam and Executive Director of
Thuthukani Group Limited. Van Aardt obtained a B. Proc
(Cum Laude), LLM at the University of Pretoria (UP), LLD at
Potchefstroom University for Christian Higher Education
(PUCHE) and has 15 years experience in financial services
and micro-lending sectors.
Edition 5
BANKER SA
45