Hunter United tracks down fintech leader
A banker with a brief stint as a fintech entrepreneur has taken the helm of Hunter United Employees' Credit Union. Tim Blomfield is the new chief executive officer. He replaces Steve Martinelli.Hunter United summed up Blomfield's CV as "more than 20 years' experience in financial services, having worked with UBS, NAB and Westpac in a variety of senior leadership and business coaching roles across institutional, commercial and consumer banking."At the beginning of 2015 Blomfield helped establish Dfinanz. His Linkedin profile relates that Dfinanz "is an Australian-based financial startup". "Dfinanz is not a Lender, Broker or Search Engine, it is a social market network designed to encourage convenient, competitive and transparent consumer finance transactions - not the loans themselves."The impact of Dfinanz on the mortgage origination market appears muted; its launch PR being the only impetus for a mention in this newsletter, or anywhere, until today.Assets declined at Hunter United over the year to June 2015 and have continued to do so, a trend at odds with the high levels of loan growth of a number of credit unions over the last year or so. Profit, on the other hand, lifted.