MEDIA RELEASE 20 December 2006
BBX to become a one-stop financial shop for members
BBX is now offering a broader range of financial services in areas such as
mortgage broking, insurance, business finance and financial planning through its
two new ventures, BBX Financial Advisors and BBX Money.
Mr Tim Creasy, Chief Financial Officer, said the company is looking to finalise
a joint venture to offer financial advice to members through the establishment
of BBX Financial Advisors.
“We are partnering with a number of parties in the finance industry to offer,
not only trade overdrafts, but cash finance to BBX members,” Creasy said.
“Offering financial planning advice is just one more step in becoming a one-stop
financial shop for our members.
BBX Money is able to provide leading bank and non-bank mortgage products and
other cash loans directly.
“With BBX Money, first home buyers and property investors will have the
opportunity to purchase real estate with up to 30 percent interest free loan
deposit. This provides immediate equity, avoids high mortgage insurance and can
be repaid in either cash or by the sale of inventory on the BBX Auction site”
Creasy said.
“This service is available for both members and the general public,” he said.
To tie in with this offering, BBX is moving into the real estate business, with
the launch of the first office in Toukley.
“We're gathering up property for sale at a rapid rate to coincide with the roll
out of BBX Real Estate Offices.
The principle of barter, exchanging one article for another without the use of
money, goes back to the dawn of history. BBX allows members to trade goods and
services without using cash but rather trade dollars, to assign the value to
transactions that take place between members of the exchange.
BBX has a substantial membership base in Australia, New Zealand, India and China
making it one of the largest reciprocal trade exchanges. Members in Australia
and New Zealand transacted $146 million in trade for the 2006 financial year.
BBX is Australasia’s first and only publicly listed trade exchange manager and
listed on the Australian Stock Exchange in 2005.
In September, BBX announced a record net profit after tax of $1.080 million.
This represents an increase of $825,000 or 323 percent over the previous year.
The company can be contacted on 1800 222 229. The website is
www.ebbx.com
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Released for BBX by Dennis Rutzou Public Relations (www.drpr.com.au)
For further information contact Dennis Rutzou
or Fiona Pennington on (02) 9413 4244.
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