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Customer Owned Banking Code of Practice

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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

Download the 10 Key Promises to You brochurePDF

Download the Customer Owned Banking Code of PracticePDF

  More Information


If you have any questions, please contact us 

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