Customer Owned Banking

Customer Owned Banking Code

The Customer Owned Banking Code of Practice is the code of practice for Australia’s customer-owned banking institutions (mutual building societies, credit unions, mutual banks and other mutual Authorised Deposit Taking Institutions). The Code has been developed in close consultation with a wide range of stakeholders, including government, consumer groups and the members of Customer Owned Banking Association.

As we are owned by our members — we are focused on providing real value through competitive interest rates, personalised service and a fee structure that is based on mutual support.

Just like a bank, we are a regulated financial institution which is required to comply with:

  • Responsible financial management requirements (under the Banking Act 1959, regulated by APRA)
  • Corporate and financial services’ licensing, advice and training and disclosure regulation (under the Corporations Act 2001 regulated by ASIC)
  • Consumer credit laws
  • Privacy, fair trading and other Commonwealth, State and Territory legislation

We also choose to subscribe to the Customer Owned Banking Code of Practice as a public expression of our moral promise to members to uphold the fundamental principles of mutuality, transparency and fairness.

Our 10 Key Promises to You

  • We will be fair and ethical in our dealings with you
  • We will focus on our customers
  • We will give you clear information about our products and services
  • We will be responsible lenders
  • We will deliver high customer service and standards
  • We will deal fairly with any complaints
  • We will recognise our customers’ rights as owners
  • We will comply with our legal and industry obligations
  • We will recognise our impact on the wider community
  • We will support and promote the Customer Owned Banking Code of Practice


acrobat_logo Download the 10 Key Promises to You brochurePDF

acrobat_logo Download the Customer Owned Banking Code of Practice



If you have any questions, please contact us