B & E Limited

B & E Limited

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Routing Number: 236870
B & E Limited Phone Number: 1300 306 716

More B & E Limited Information:

First, the B&E story began when a group of public-spirited citizens saw the need to provide housing finance by way of a co-operative venture and launched the Launceston Equitable Building and Investment Society in January 1870. Second, the cash taken at the first meeting totalled only $235 but the nine directors, chaired by the then Superintendent of Police, James Coulter, were delighted even though it would be 10 years before any of them received any remuneration.

Moreover, the first loan for $400 was to James Brickhill for land in Brisbane Street between Margaret and Bourke Street and the second was a more substantial loan of $1000 to Gustavus Gabriel for a Wellington Street shop and house. Also, along with helping people to own their own homes at a time when there was no public housing in Tasmania, the society’s goal was to encourage thrift in a town where there were more pubs than churches.

Equally, the biggest growth period for the society, which changed its name to the Launceston Equitable Building Society in May 1877, came after World War II when it, and other Launceston societies, lent almost $10 million and financed more than 7000 homes in 10 years.

Finally, from 1888 the Equitable Building Society provided banking services in the South through agencies. However, during the 1980s it established three branch offices – the Rosny branch (September 1981), Moonah branch (May 1986) and the Hobart branch (October 1986).

B & E Limited Location

87 Brisbane Street
Launceston, Tasmania

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