Latest News

COBA is seeking a stronger financial system that leads to more competition and better outcomes for consumers. For our latest media releases Click here »

COBA releases new consumer research

COBA releases new consumer research which shows consumers want greater transparency on rates, fees and financial advice. To learn more, Click here »

New FSI TV Campaign Launches

COBA has launched a new campaign for a stronger, fairer banking system. To watch our new TV commercial, Click here »

COBA FSI submission calls for change

COBA’s submission to the Financial System Inquiry calls for a better, simpler and fairer system Click here »

Financial services built on integrity

Learn more about credit unions, building societies and mutual banks Click here »

Social responsibility – not corporate profits

Learn more about the COBA member organisations Click here »

A different kind of banking

Learn more about credit unions, building societies and mutual banks Click here »

Submissions »

Media Releases »

Credit Card Savings on Offer

COBA commissioned polling earlier this year that shows there is an opportunity for Australians to switch to a better credit card deal.  The Essential Research poll of 1000 people, commissioned by COBA found:

  • 65% don’t know who has the lowest credit card interest rates;
  • Around half said “Don’t Know” when asked the current rate they pay;
  • A significant proportion of younger Australians wrongly think the big four banks offer the best rates - 16% of people aged 18-34 nominated the big 4 banks compared to just 7% of those aged 55 and over. 

Customer Owned Banking Association CEO Mark Degotardi said many Australians are using high cost credit cards when there are significantly better rates available.

The customer owned banking sector has market leading deals*, so there’s simply no reason to pay high interest.

* Based on figures sourced from Canstar Online Database