RACQ Bank tops list for most trusted Qld bank

RACQ Bank has again been named Queensland’s most trusted bank, as new research also revealed Queenslanders wanted a bank that put them, not shareholders, first.

The latest Australian Banking Brand and Trust Index by Glow Research revealed RACQ Bank topped the list as the State’s most trusted financial institution, as new Roy Morgan research also showed customer satisfaction with mutual banks had risen to 89.2 percent.

RACQ Bank spokesperson Lucinda Ross said the findings proved consumers wanted a bank which put members ahead of profits.

“We’re proud to be customer-owned, it means we can put our members first in good times and bad, with no need to serve shareholders,” Ms Ross said.

“Being customer-owned means, we have more opportunity to deliver value and service that will help our members throughout any challenges they face.”

Ms Ross said RACQ Bank and other customer-owned banks had responded with empathy and compassion throughout COVID, which set them apart from the big banks.

“Our branch teams have proactively contacted members in their community to check how they’re coping throughout the pandemic, and treated any member experiencing hardship with respect and kindness,” she said.

“Whether it’s in one of our branches, online chat, virtual interviews or over the phone, our team has been ready to help Queenslanders settle on a new home, conduct their daily banking or develop a solution to get them through some of their toughest days.

“This is what it means to be part of a customer-owned bank. It means you’re going to be put first and you’ll be looked after by a team that wants the best for you, not for shareholders. There’s never been more reason to switch to a customer-owned bank.”