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COBA statement to Productivity Commission Inquiry into Competition in the Financial System

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COBA CEO Mark Degotardi's opening statement to the roundtable hearing for the Productivity Commission Inquiry into the State of Competition in the Australian Financial System.

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Opening Statement Bank Levy Inquiry

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COBA CEO's opening statement to the public hearing of the Senate Economics Committee Inquiry into Major Bank Levy Bill

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Mortgage industry comes together to progress ASIC proposals

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Sydney, 14 June 2017: Representatives from the mortgage industry have begun a process to ensure that incentives and governance arrangements are aligned with good outcomes for customers, in response to ASIC’s report on mortgage broker remuneration.

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Customer owned banking continues to outperform Majors

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The customer owned banking sector is outperforming the major banks in home loan growth, underlining its status as a strong, competitive alternative to the majors.

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New campaign to check out banking competition

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A new campaign begins today to encourage Australians to check out the banking alternatives available to them, including Australia’s mutual banks, credit unions and building societies.

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COBA on Federal Budget

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COBA looks forward to engaging with the Government and other stakeholders on the detail of the wide-ranging banking reform package unveiled in tonight’s Budget.

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Customer owned banking sector welcomes competition review

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The customer owned banking sector welcomes today’s announcement by the Treasurer of a Productivity Commission (PC) inquiry into the state of competition in the financial system.

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Government backs mutuals to grow & invest

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COBA welcomes Treasurer Scott Morrison’s announcement today that the Government will examine reforms to support co-operatives, mutuals and member-owned firms so they can invest, grow and employ more Australians.

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COBA’s 3 Steps to make Banking Better for All

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Politicians in Canberra will be presented with 3 Steps this week to make Australia's banking system better for all.

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Funeral bonds improve Age Pension entitlements

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Friendly Societies of Australia (FSA) reports increasing sales of Funeral Bonds following the introduction of stricter pension assets tests which took effect on 1 January 2017. There is anecdotal evidence that a factor in the surge in sales in the last quarter leading up to that implementation date and the continuing buoyancy in the current year is that a funeral bond may ameliorate the affects of the asset test on pension entitlements.

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Award winners show customer owned strength

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COBA today congratulated Greater Bank and People’s Choice Credit Union on their success at the Roy Morgan Customer Satisfaction Awards last night.

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Best value credit cards much lower than big 4

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Latest analysis of credit cards has revealed that the customer owned banking sector is the market leader on value, despite moves from others to lower some rates.

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Australians say process to switch banks is too painful

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Australians are willing to switch home loans but believe the process is too painful, there’s too much paperwork and it’s not worth the effort.

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Unfair rules harm banking competition

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More proof has emerged that different rules on mortgages for large and small banking institutions are distorting competition.

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Federal Budget action needed on banking competition

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COBA today called on the Turnbull Government to allocate funds in the May Budget to bring forward a planned Productivity Commission review of banking competition.

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Inquiry confirms ‘community focus’ of customer owned banking institutions

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An independent report has confirmed that mutual banks, credit unions and building societies are living up to their promise of community engagement.

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Consumer credit card confusion shows need for action to promote competition

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While the personal credit card may have got a workout over Christmas, new research indicates consumers are very poorly informed about the credit card market.

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