We engage with the media to champion the customer owned banking model and advocate for a more competitive retail banking sector that benefits all Australians.
The latest Roy Morgan Customer Satisfaction Consumer Banking in Australia report reveals customer-owned banks continue to outperform major banks in customer satisfaction, a trend that that has persisted for decades. Customer-owned banks achieved an 89.5% satisfaction rate by Australians who used them as their main financial institution, surpassing the major banks’ 75.4% rating and the … Read more
As Queensland prepares to adapt to a new banking landscape, the state’s customer-owned banks are encouraging locals to consider the numerous homegrown alternatives that put customers and local communities first. In total, 9 mutual banks and credit unions call Queensland home, collectively serving over 1.7 million members, employing 3,700 full-time staff, and boasting a combined … Read more
The Customer Owned Banking Association (COBA) has welcomed Treasurer Jim Chalmers’ announcement of a review into banking competition, which will investigate how regulation can be improved for smaller and medium-sized banks to ensure Australians can benefit from a dynamic and competitive sector. “We welcome the Treasurer’s focus on the role small and medium banks play … Read more
Australians are increasingly choosing customer-owned banks for their mortgages and savings. Recent data shows the customer-owned banking sector doubled its growth of deposits and housing loans compared to the system in the last 12 months[1], displaying a customer shift towards mutual banks and credit unions. “Many Australians are drawn to the customer-owned banking sector because … Read more
Customer-owned banks have launched a digital campaign to encourage Australians to make the switch to a bank that treats them like a valued customer rather than just a number. The campaign is led by the Customer Owned Banking Association (COBA) and aims to bust common myths about the sector and raise awareness of mutual banks … Read more
The Customer Owned Banking Association (COBA) and its member banks welcome the findings of the Better Competition, Better Prices report from the House of Representatives Standing Committee on Economics following its inquiry into promoting economic dynamism, competition, and business formation. As part of its investigation into the concentration of capital and economic power in banking, … Read more
The Customer Owned Banking Association (COBA) and its members are pleased to welcome the Government’s decision to introduce a Financial Sector Regulatory Initiatives Grid following extensive advocacy by COBA. In today’s announcement, Treasurer Jim Chalmers and Minister for Financial Services Stephen Jones formally thanked COBA for its work in helping shape the reform. The Regulatory … Read more
Australian banks have joined forces to launch a new Scam-Safe Accord to deliver a higher standard of protection for customers and put scammers out of business in Australia. This Accord, between Australia’s customer owned banks (mutual banks, building societies and credit unions), and commercial banks, is a comprehensive set of anti-scam measures across the entire … Read more
Sydney, 20 September 2023: Roy Morgan’s Customer Owned Banking Association – Trust and Distrust Scores Report has shown customer owned banks collectively lead the table when it comes to consumer trust in banking, recording a higher Net Trust Score than any individual bank in Australia. In the report, the banks that are members of the Customer … Read more
