HomeView 2016 Media ReleasesCustomer owned model offers authentic difference

The Customer Owned Banking Association today celebrates International Credit Union Day and the authentic difference co-operative banking offers customers worldwide.

The Customer Owned Banking Association today celebrates International Credit Union Day and the authentic difference co-operative banking offers customers worldwide.

“The global theme, ‘The Authentic Difference’ shows there’s a banking model with a number one focus on meeting consumer needs,” COBA CEO Mark Degotardi said.

“In Australia, the customer owned model, with its 4 million customers, is the proven alternative to the listed model in retail banking.

“We recently celebrated reaching $100 billion in assets which underlines our positive growth story, backed by market leading customer satisfaction and award winning products and service.

“Australian banking customers are responding to our model which has customers as its number one focus without the tension of trying to maximise returns to a separate group of shareholders.

“Customer owned banking institutions - mutual banks, credit unions and building societies - are eager to build on their four million strong customer base and bring their customer focused model to more Australians.”

International Credit Union Day raises awareness about the co-operative approach to banking around the world, including the investment made in emerging nations to improve financial literacy and better economic outcomes.  

Globally, credit unions and customer owned financial institutions serve 223 million customers, through more than 60,000 organisations in 109 countries.

Media Release128.49 KB

For more information please contact:

Daniel McDougall, Senior Manager – Media and Communication

02 8035 8444 or 0407 637 541, This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Customer Owned Banking Association is the industry body for credit unions, building societies, mutual banks and friendly societies.  See coba3.nexusone.com.au

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Media Contacts

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

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