24 Apr 2010

Building society applies for extended guarantee

6:08 am on 24 April 2010

CBS Canterbury has applied to take part in the Government's extended Crown guarantee.

The building society says its loan book grew to more than $440 million in the past year, with most of the growth coming from the residential sector.

It says it has $540 million worth of assets, and an 88% reinvestment rate for customer's deposits.

So far the Treasury has approved Marac Finance Ltd, Equitable Mortgages Ltd, PGG Wrightson Finance and South Canterbury Finance for the extended scheme.