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2017 Media Release Archives

Representatives of Australia’s mortgage broking industry have prepared a landmark reform package that will improve consumer outcomes and confidence in mortgage broking.

COBA today congratulated Senator Bridget McKenzie on her election as Deputy Leader of The Nationals and her elevation to Cabinet.

COBA today called for the implementation of pro-competitive reform in retail banking to continue during the Royal Commission into misconduct in the banking, superannuation and financial services industry.

COBA today welcomed quarterly statistics from APRA which show growing support from Australian consumers banking with the customer owned sector.

Acting CEO Dominic Dunn today made the following comments regarding the announcement of a Royal Commission into misconduct in banking and financial services:

COBA welcomes the backing from KPMG today in its annual review of the customer owned banking sector which highlighted strong financial performance.

COBA Opening Statement - Senate Economics Legislation Committee inquiry into the BEAR Bill

COBA is the industry association for Australia’s customer owned banking institutions: mutual banks, credit unions and building societies.

COBA congratulates the Turnbull Government on its announcement today of a reform package to update regulatory and legislative settings to accommodate the customer owned business model.

COBA today announced the appointment of Michael Lawrence as its new CEO. 

Consumers stand to benefit from the Turnbull Government’s decision to nudge major banks to participate in comprehensive credit reporting (CCR).

COBA today announced CUA's Chief Financial Officer Steve Chugg has been elected to the COBA Board.

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

COBA today encouraged consumers to make online safety a top priority as part of continued attempts through Stay Smart Online Week to boost Australia’s cyber security and resilience.

The customer owned banking sector today identified significant problems with banking competition in Australia and made three key recommendations to the Productivity Commission (PC) Inquiry to address the issue.

Representatives from the mortgage industry are making strong progress developing the industry’s response to ASIC’s report on mortgage broker remuneration.

Latest figures released today show consumers are responding to the great products and service offered by the customer owned banking sector.

The Board of the Customer Owned Banking Association (“COBA”) has advised its members with regret that Mark Degotardi has resigned as CEO.

Representatives from the mortgage industry have agreed the framework to develop an industry response to ASIC’s report on mortgage broker remuneration.

COBA welcomes confirmation today that the customer owned banking sector largely already meets ‘unquestionably strong’ capital ratios and that the major banks have some catching up to do.

COBA congratulates the Government on moving quickly to allow all credit unions and building societies to use the term ‘bank’.

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.

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

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.

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.

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.

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.

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.

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.

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

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.

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

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.

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.

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

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.

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

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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Media Contacts

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