Customer Owned Banking Association
The Customer Owned Banking Association is the industry advocate for Australia’s customer owned banking sector. It is owned by its 72 member institutions: 51 credit unions, 3 building societies, 16 mutual banks and 2 others; and a number of affiliate members.
Customer owned banking aims to challenge the dominance of the major banks across the country.
The customer owned banking sector has combined assets of $106 billion, offering Australians a competitive alternative to banks and access to a range of savings, investment, loan and insurance products. Unlike banks, profits are not paid to external shareholders, but put back into better products and services for customers and their local communities.
The industry association will be a strong public advocate, pushing for more banking competition and a fairer operating system to help our industry challenge big bank market dominance.