The Customer Owned Banking Code of Practice explained

As a not-for-profit bank, we’re focused on you. We put our customers, not shareholders, first. And that’s something we’re proud of. We meet the same regulatory standards as banks and are prudent and strong financial service providers.

Working closely with the Customer Owned Banking Association, the governing body of Australian credit unions and building societies, we’ve helped develop the Customer Owned Banking Code of Practice.

Customer Owned Banking Code of Practice

What is the Customer Owned Banking Code of Practice?

The Code is an important public statement of the value we place on improving the financial wellbeing of our customers.
It reinforces our commitment to:

  • The benefits of mutuality
  • Community involvement
  • Fairer fees, and
  • Customer service.

How does it affect you?

The Customer Owner Banking Code of Practice is how we deliver on our guarantee to serve our customers. Our 7 key promises to you outline how we do this.

Our promises to you

We will comply with this Code in our dealings with you. We will incorporate this Code by reference in our written Terms and Conditions for products and facilities to which the Code applies. We will do this within twelve months of agreeing to adopt this Code (or, if later, within twelve months of the commencement date of this Code).

Our code obligations include the following key promises that we make to you as our customers and owners.

Key Promises

The 2022 Code is underpinned by seven key promises. These promises are the principles that form the basis of the Code, informing all other provisions and obligations.

  1. We will deliver banking services in the interests of our customers
  2. We will obey the law
  3. We will not mislead or deceive
  4. We will act honestly and fairly
  5. We will offer products and services that are fit for general purpose
  6. We will deliver services with reasonable care and skill
  7. We will contribute to our community

Delivering on our Promises

  1. How we inform you about our products
  2. Our customer services standards
  3. When you have an account with us
  4. Our approach to lending
  5. Our approach to fees, rates and commissions
  6. Support for customers experiencing financial difficulty
  7. Our approach to payments
  8. Our commitment to your privacy and security
  9. How we promote the Code

How can I obtain a copy of the Code?

You can get a copy of the Customer Owned Banking Code of Practice by: