Local businessman invests in Joondalup community


Bank of Queensland will open its first Owner-Managed Branch in Joondalup next month, as well as a new branch in Perth’s CBD.


The Joondalup branch will be owned and managed by long-term Ocean Reef resident, Derek Joy, who said he is looking forward to bringing a completely different banking experience to the area.


“My 34 years’ of banking experience has taught me that bank customers want to deal with a bank that is accessible, locally based and understands the local community – everything the Bank of Queensland Joondalup will offer,” said Mr Joy.
“Ownership of my own business – the branch – allows me to understand the goals and operations of other small businesses and their need for personalised service,” he said.


“I see a lot of potential in the Joondalup area and I’m keen to support the development and growth of the local area as well as the wider community.”

Mr Joy has previously worked for Westland Mortgages, Bank of New Zealand, National Mutual Royal Bank, IBJ Australia Bank and Challenge Bank in a variety of positions, and is looking forward to offering his wealth of experience and unique perspective to the local area.

The new branch will be located at 2/10 Reid Promenade, Joondalup, and will open in early February.


BOQ Managing Director David Liddy said the Bank’s unique Owner-Managed Branch Model had enabled it to open 75 branches outside its home state last year.


“We are planning on opening another 25 branches over the coming year, and are looking to build significantly on our presence in Western Australia.


“Both the Subiaco and Applecross branches have already been enormously successful.


“In fact, Subiaco branch is one of the most successful OMBs we’ve opened to date, which is a clear indication that BOQ’s unique service offering is welcome in WA!


“As WA is undergoing such huge growth at the moment, we are very keen to have a strong presence here.”


The new Perth branch is located at 577 Wellington Street, Perth and will open in early February as well.