Woolworths Team Bank operates a bit differently than the traditional banks you may be more familiar with. We’re a customer-owned bank which means we’re owned by the members we serve – and that means we put our members (you) first! Traditional banks, on the other hand, are owned by external shareholders, and the motivations of a shareholder is to see a return on their investment. 

Customer-owned banks are also known as mutual banks, credit unions or building societies. We provide the same solutions as traditional banks, with one huge difference: any profits we make through our services and products are put back into improving the experience and outcomes for our members and their community. 

Some of the ways we can do this include:

  • offering products with competitive rates
  • investing in our people to deliver great service – rather than trying to cut costs by outsourcing overseas or putting you into a call system
  • and giving to charities and community initiatives

Some recent examples of how we’ve put our members first are the removal of account keeping and transaction fees, and our annual School Leavers Scholarship program where we give a financial hand to help school leavers make their dreams come true. 

We’re constantly thinking of ways to improve our products, services, and member experience.

In 2022, Roy Morgan reported that customer-owned banks had a 91.6% customer satisfaction rating compared to the 77.4% satisfaction reported from major banks. Take a look at some of the experiences our members have when they bank with us. 

Customer satisfaction is one of the reasons why more than 5 million Australians choose to bank with a customer-owned bank. We’d love to show you what you’ve been missing by staying in a traditional bank! When you choose Woolworths Team Bank you choose a bank that puts you first

“The WTB team not only met our expectations … but they exceeded them in every way. Getting answers to questions quickly so we can make decisions, keeping us in the loop as to the progress of the application so we were fully informed, and always there to take our call - my wife and I were very impressed with that level of customer service, and it was greatly appreciated. The team even answered questions after hours to give us peace of mind. This was tremendously helpful and somewhat comforting to know that we could move forward with a decision and not have to think about it overnight or even over the weekend.”
Brad
“Every conversation was positive and it seemed that nothing was a big ask. The thing that stands out for me is the fact that you can actually ring and talk to a person, no waiting in a queue, no endlessly frustrating elevator music or oft-repeated sales pitches; a real person. Email enquiries are also quickly dealt with. I have been very impressed with Woolworths Team Bank’s efficient system and organisation. Happy to recommend them to anyone looking for an alternative that treats customers as something of value.”
Mike
"I just wanted to say that I am very pleased with the entire process of going through a loan with your bank…. This is my first time getting a loan for myself, when I first called up I spoke to Mari-Jaine who was very polite and didn’t mind me taking up her time asking questions. Once I requested the loan information, I was dealing directly with Angeline and she has been nothing but amazing and very patient through the entire time start to finish. Helping me learn and understand things and make sure I am very comfortable with everything, very professional. I would be recommending Angeline to any work colleges along with Woolworths Team Bank if they are to be looking at getting a loan out in future. Outstanding customer service skills that also allowed me to feel like I’ve made a friend as I could easily communicate with Angeline."
Taylah

Customer satisfaction is one of the reasons why more than 5 million Australians choose to bank with a customer-owned bank. We’d love to show you what you’ve been missing by staying with a traditional bank! When you choose Woolworths Team Bank you choose a bank that puts you first.

Join Woolworths Team Bank today!