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Customer owned sector continues to beat system growth rates

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Australians are continuing to turn to a banking model that puts the customer first with the latest APRA quarterly banking figures showing system-beating growth in the customer owned banking industry.

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ACCC report into residential mortgage pricing: A call to action for Australian consumers

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The release of the Australian Competition and Consumer Commission’s final report on the ‘Residential Mortgage Price Inquiry’ has confirmed that greater competition and transparency in the banking sector are crucial to Australian consumers getting a fairer deal. 

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Coalition Joint Party Room approval a positive start to implementing reforms

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The Coalition Joint Party Room approval today of crucial legislative reforms to make it easier for customer owned banks to compete with the ‘Big Four’ is a welcome step towards creating a more competitive banking sector.  

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KPMG report highlights customer owned banks as an attractive alternative

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COBA welcomes the KPMG Mutuals Industry Review 2018 and its endorsement of our sector’s performance in a tough business environment.

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COBA welcomes draft legislation creating mutual capital instrument

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Release today of a draft bill by Assistant Minister for Treasury and Finance Zed Seselja to create a new capital instrument in the Corporations Act is a positive step forward for customer owned institutions and consumer choice.

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Grant Thornton report: rising fear over disproportionate cost of banking regulation for smaller lenders and the ultimate cost to competition and consumers

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An independent survey of Australian bank executives has found growing concern about the disproportionate cost of regulatory compliance as decision-makers try to rebuild public trust in response to the Hayne Royal Commission.

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COBA welcomes action on ‘too big to fail’ problem

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COBA welcomes APRA’s announcement today proposing higher capital requirements for major banks to improve financial safety, financial system stability and competition.

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COBA says legislative reform will accelerate bank sector competition

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Legislation to allow Australia’s customer owned banking sector to more easily raise capital will increase its ability to compete with the nation’s major banks.

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COBA Convention: Samuel sees opportunity for customer owned sector

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Former ACCC chair Graeme Samuel says the revelations of the Financial Services Royal Commission pose an opportunity for the customer owned banking sector.

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Growth opportunity for customer owned banking

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Release today of a draft bill to lower barriers to capital raising by mutual banks, credit unions and building societies is a significant step forward in promoting competition in banking.

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Customer Owned Banking puts people before profits

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The Interim Report of the Financial Services Royal Commission shows the importance of putting people before profit.

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Customer-owned banking sector outpaces major banks

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APRA’s quarterly banking figures indicate that customers have faith in the customer-owned banking sector.

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Customer Owned Banking Code of Practice continues to provide consumers with strong protection

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COBA notes public statements by the ABA that the ABA’s new Banking Code of Practice should be adopted by mutual banks, credit unions and building societies that are not ABA members.

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New figures show the leaders in banking satisfaction and advocacy

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New figures released today show the customer owned banking sector is the clear leader on customer satisfaction and advocacy, at a time when trust in the banking sector is more important than ever.

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Combined Industry Forum Media Release - No more volume-based bonuses for mortgage brokers

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Australia’s mortgage broking industry has ended the use of volume-based bonus commissions, campaign-based commissions, and other volume-based bonus payments.  This is one of the main findings of an interim report prepared by the Combined Industry Forum.

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COBA CEO Speech at Parliament House on proportionate regulation of retail banking

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Good afternoon and thank you for coming.

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#MoreThan4 campaign calls for new approach to regulate banking

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COBA today launched the #MoreThan4 campaign which calls for a new proportionate approach to banking regulation.

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New report warns about impact of regulatory costs on banking competition & consumers

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A new report has identified problems with one-size-fits-all regulation in banking and warned of the impact more regulation flowing from the Royal Commission could have on consumers, competition and smaller banking institutions.

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PC points way to put the customer first in banking

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The Productivity Commission’s report on competition in banking released today sends strong messages to regulators and policymakers that regulation is hurting competition and consumers are paying the price.

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ASIC report shows consumers should seek a better credit card deal

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The Customer Owned Banking Association today encouraged consumers to explore better credit card options after an ASIC review into credit cards found that one in six Australians are struggling with credit card debt.

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Trust in customer owned banking on the rise in wake of Royal Commission

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Almost half of all Australians have less trust in the big banks because of the Royal Commission into banking.

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APRA figures show customer owned momentum

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COBA today welcomed the latest quarterly statistics from APRA which show strong growth for the customer owned banking sector and are cause for optimism for the second half of 2018.

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Australians ready to switch: time to ‘Own Your Banking’

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New research has found the Banking Royal Commission has made Australians more receptive to banking alternatives and switching their banking.

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COBA supports National Scams Awareness Week

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COBA today supported National Scams Awareness Week, which has the theme “Ask Yourself Is this for Real”.

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New campaign encourages Australians to ‘Own Your Banking’

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A new campaign is encouraging Australians to ’Own Your Banking’ and to look at the benefits of customer owned banking.

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COBA supports Open Banking but timetable a concern

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COBA today voiced its support of open banking for consumers and competition but has questioned the tight timetable announced for smaller banking institutions.

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COBA op-ed on Royal Commission

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COBA op-ed on Royal Commission

By Michael Lawrence, COBA CEO

The Financial Services Royal Commission is already changing banking.

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Customer owned banking for the people

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COBA today said Australians looking for banking that focuses on them as people should look no further than Customer Owned Banking.

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APRA figures provide momentum in 2018

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COBA today welcomed the latest quarterly statistics from APRA which indicate a strong 2018 ahead for the customer owned banking sector.

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COBA Opening Statement - PC Inquiry

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COBA speaks for mutual banks, credit unions and building societies – customer-owned banking institutions that provide important competition and choice in the retail banking market and bring an unmatched customer focus to the market.

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APRA capital proposals could improve competition

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COBA looks forward to engaging with our member banking institutions and responding in due course on APRA’s proposals to revise the capital framework for home loans.

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Customer owned banking embracing new tech

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COBA welcomes the New Payments Platform starting today which allows Australian bank customers to make and receive real-time payments anytime.

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PC report on banking a welcome wake up call

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COBA today welcomed the release of the Productivity Commission’s draft report into Competition in the Australian Financial System.

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COBA welcomes bipartisan approach to BEAR

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COBA today welcomed the bipartisan approach taken in Federal Parliament to give small and medium banking institutions more time to prepare for the Banking Executive Accountability Regime (BEAR).

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Media Contacts

Mick Gibb
Corporate Affairs Manager
P: +61 2 8035 8444
M: +61 423 149 494
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