Customer owned banking in Australia reaches historic $100 billion milestone.
Reaching $100 billion in assets underlines that the customer owned model, with its 4 million customers, is the proven alternative to the listed model in retail banking. Mutual banks, credit unions and building societies are delivering great service, highly competitive pricing and an unmatched customer focus. Customers are our owners and number one focus and unlike our listed competitors we don’t have the tension of trying to maximise returns to a separate group of shareholders.
Australian Customer Owned Banking Institutions - growing from strength to strength and key fact & figures
Deposits with credit unions, building societies and mutual banks up to $250,000 are covered by the Government guarantee on a permanent basis from 1 February 2012. Customer Owned ADIs are highly capitalised and have no exposure to the complex financial products or sub-prime issues – we are safe and secure. Want to know more about Australia's credit unions, mutual banks and building societies?