Established in 1959, G&C Mutual Bank (G&C) is a member-based financial institution that provides banking and financial services to over 36,000 members. G&C has service centres located in Sydney and Melbourne, as well as throughout regional NSW.
G&C had recently moved their head office and were looking at the best way to finance their technology and communication assets, including servers, PCs and IT infrastructure. Mindful of ongoing market volatility, plus the risk of today’s technology quickly becoming obsolete, G&C recognised the importance of adopting a service model for their technology assets to preserve their valuable capital.
Northquest provided G&C with a finance solution that met both their capital management and asset management requirements. Technology assets were taken off the balance sheet to improve capital ratios, whilst fixed hardware assets were treated as 100% Risk Weighted Capital to generate a nil return. The solution also offers G&C ultimate flexibility – assets can be handed back or purchased at end of term, plus G&C can add additional systems at any time.