MyState Financial

To view the full profile in PDF format click here.
www.mystate.com.au

USE OF SECURITISATION

*Figure includes the joint securitisation undertaken by MyState Financial and Queenslanders Credit Union in 2007

About MyState Financial
My State Financial (MyState) is a wholly-owned subsidiary of MyState Limited, which is a non-operating holding company approved by the Australian Prudential Regulation Authority and listed on the Australian Securities Exchange. MyState is the culmination of numerous credit unions coming together since 1959.

MyState Limited also wholly owns another subsidiary, Tasmanian Perpetual Trustees – a trustees company, product issuer of managed investment funds and provider of mortgage finance for personal, business and commercial purposes. It also owns The Rock Building Society, an authorised deposit-taking institution (ADI) based in central Queensland.

MyState is an ADI operating predominantly in Tasmania and provides services to 120,000 customers. It has branches in 12 locations and employs approximately 300 staff.  

MyState offers personal and mortgage lending, overdrafts, credit cards, term deposits and transactional accounts, insurance, and risk insurance. More recently, MyState expanded its operations to include business banking, agribusiness and a complete set of wealth management offerings – including MyState’s own online portfolio management service.

Securitisation and funding strategy  
MyState looks to use securitisation to fund approximately 20-25% of its funding portfolio through RMBS and asset-backed commercial paper issuance.

ASSET SPECIFICS