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Customer owned banking sector a top 50 taxpayer

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New data shows the customer owned banking sector’s consistently strong financial performance ranks the sector comfortably in the top 50 corporate taxpayers.

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Customer owned banks make up 20 of 27 lenders on First Home Loan Deposit Scheme panel

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The Customer Owned Banking Association congratulates the 20 customer owned banking institutions appointed today to the First Home Loan Deposit Scheme (FHLDS) panel.

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Independent KPMG Report recognises strong growth of customer owned banking sector

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An independent report by KPMG has found the customer owned banking sector has performed strongly despite the economic headwinds and challenges facing the retail banking market.

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Australia’s premier customer owned banking convention begins today

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Australia’s customer owned banking sector’s premier annual convention, COBA 2019, begins today at Queensland’s Gold Coast Convention and Exhibition Centre.

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Australia’s credit unions celebrate 71st annual International Credit Union Day

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Credit unions around the world are celebrating the 71st International Credit Union Day, an annual international observance that recognises the significant contribution credit unions make to the community.

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COBA welcomes ACCC inquiry

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The Customer Owned Banking Association welcomes the Australian Competition and Consumer Commission’s inquiry into home loan pricing and competition in the retail banking market.

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COBA speech on the impact of increased regulation on competition – Future Banking Forum, 10 October 2019

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It’s been eight months since Commissioner Kenneth Hayne handed down the final report of the Financial Services Royal Commission and its 76 recommendations. Eight months since Commissioner Hayne’s awkward photo opportunity with Treasurer Frydenberg.

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Research finds almost 90 per cent of customer owned banking customers satisfied with their institution

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Almost 90 per cent of customers of customer owned banking institutions declared themselves satisfied with their institutions, according to new research from Roy Morgan.

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Customer owned banking sector welcomes reports of the ACCC’s request for banking competition inquiry

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Australia’s customer owned banking sector welcomes reports that the Australian Competition and Consumer Commission (ACCC) is requesting to conduct an inquiry into the banking industry’s competitiveness.

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Australians continue trend of picking customer owned banking institutions over the ‘Big Four’

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The trend of Australians choosing to bank with customer owned banking institutions has continued, according to the latest Quarterly ADI Statistics released by the Australian Prudential Regulation Authority.

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COBA welcomes introduction of legislation to implement First Home Loan Deposit Scheme

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The Customer Owned Banking Association welcomes the introduction of legislation into Parliament today that will implement the First Home Loan Deposit Scheme (FHLDS).

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Australia’s customer owned banking institutions’ CEOs remind MPs, don’t lose sight of competition

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More than 30 CEOs and Directors from customer owned banking institutions will arrive in Canberra today to remind Members of Parliament to keep competition in mind as the Financial Services Royal Commission recommendations are implemented.

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Australians urged to be scam smart

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Australia’s customer owned banking institutions are urging Australians to be scam smart as scammers ramp up activity in Australia.

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APRA to focus more on competition

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The Customer Owned Banking Association has congratulated APRA for agreeing to more actively champion the consideration of competition in its decision-making processes.

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Consumers choosing customer owned banking institutions over ‘Big Four’

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Australians are continuing to look beyond the ‘Big Four’ with new data showing consumers are choosing customer owned banking institutions over the investor owned banks.

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COBA responds to new phase of consultation on revised capital framework

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The Customer Owned Banking Association looks forward to consulting with our member banking institutions and engaging with APRA on draft revisions to the banking capital framework released today by APRA.

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Unfair tax hike proposed for smaller banks

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The Customer Owned Banking Association has strongly criticised a Treasury proposal to hike levies on smaller banks while cutting levies for the four major banks.

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COBA congratulates Government on its victory

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The Customer Owned Banking Association congratulates the Morrison Government on its victory and the Opposition on its campaign.

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Report finds action needed to promote competition in banking

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Changes to the regulatory framework for home lending are needed to promote competition in banking, according to an independent report commissioned by the Customer Owned Banking Association.

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COBA welcomes boost for first home buyers

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The Customer Owned Banking Association welcomes the coalition’s announcement to make it easier for first home buyers to get into the housing market.

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COBA welcomes Labor announcement of a Competition & Growth Taskforce

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The Customer Owned Banking Association has welcomed Labor’s announcement that it would establish a Competition & Growth Taskforce. The announcement is a positive move toward improving competition in the banking sector and accommodating the customer owned model.

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COBA releases roadmap to fix competition issues in banking sector

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The Customer Owned Banking Association is urging Australia’s political candidates to commit to improving competition in the banking sector ahead of the Federal Election.

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Australia’s banking sector on its way to becoming more competitive

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Australians will soon enjoy a more competitive banking sector after Parliament passed an important Bill during the busy budget week sitting period.

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COBA calls for fairer capital rules

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The Customer Owned Banking Association has called for fairer capital rules to promote competition in the mortgage market.

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Consumers ditching the ‘Big Four’ leads to record deposits for customer owned banking sector

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The customer owned banking sector is growing faster than the overall banking sector as 12 months of Royal Commission hearings take their toll on Australia’s investor owned banks.

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COBA urges action to reduce unfair advantage for Big Four

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The Customer Owned Banking Association has called for action to reduce the unfair funding cost advantage enjoyed by the ‘Big Four’ banks.

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COBA welcomes steps towards a more competitive banking sector

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The Australian banking sector is a step closer to becoming more competitive following the introduction of the Treasury Laws Amendment (Mutual Reforms) Bill 2019 into Federal Parliament’s Upper House today.

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COBA responds to the Final Report of the Financial Services Royal Commission

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The Final Report of the Financial Services Royal Commission provides a road-map to ensure that customers’ interests are brought to the fore, and that community standards and expectations are met.

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Save now for next Christmas – Australians urged to look to the past to save for their future

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As Australians receive their credit card statements from December or look at their ‘buy now pay later’ debts, customer owned banking institutions are reminding Australians to look beyond credit next year.

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Royal Commission response: Challenger banks warn of unintended consequences

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Ahead of the release of the Financial Services Royal Commission’s final report, the Customer Owned Banking Association is urging Australia’s politicians to remember the critically important role of competition in delivering positive customer outcomes.

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Customer owned banking institutions become Australia Post’s latest target

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Australia’s customer owned banking institutions are being pressured to agree to an unfair pricing policy by Australia Post as it targets smaller institutions to pay excessive charges for access to Bank@Post.

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Customer Owned Banking Association welcomes commitment to banking competition

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The Customer Owned Banking Association has welcomed the Government’s release today of draft regulations to improve access to capital for customer owned banking institutions.

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Customer Owned Banking Association appoints Phil Khoury to review Code of Practice

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The Customer Owned Banking Association has appointed former Australian Securities and Investments Commission official Phil Khoury to conduct the review of the Customer Owned Banking Code of Practice (the Code).

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Ashley Penny
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