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Customer Owned Banking Code of Practice

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The Customer Owned Banking Code of Practice (COBCOP) is the code of practice for Australia's credit unions and mutual building societies.

The Customer Owned Banking Code of Practice commenced on 1 January 2014. Members of credit unions and mutual building societies can have confidence in knowing they are covered by a market leading, plain English commitment to fair and responsible banking. The Code is just another example of the value credit unions and mutual building societies place on improving the financial wellbeing of their members and their communities.

 

Mutual banking delivers member-focused, competitive retail financial services - outstanding services and fairer fees. Credit unions and mutual building societies exist to serve their members, not simply to drive high profits for external shareholders.

The Customer Owned Banking Code of Practiceis the public expression of our commitment to these fundamental principles - a legal and moral commitment to delivering on our promise to members of mutual financial institutions.

Our 10 key promises to you:

  1. We will be fair and ethical in our dealings with you
  2. We will focus on our members
  3. We will give you clear information about our products and services
  4. We will be responsible lenders
  5. We will deliver high customer service and standards
  6. We will deal fairly with any complaints
  7. We will recognise member rights as owners
  8. We will comply with our legal and industry obligations
  9. We will recognise our impact on the wider community
  10. We will support and promote this Code of Practice.

More Information

To learn more about the Code, download The Customer Owned Banking Code of Practice below.

Questions?

If you believe we have breached the Customer Owned Banking Code of Practice, you can make a complaint to us. If we are not able to resolve the complaint to your satisfaction and the complaint involves a claim that you have suffered loss or detriment, you may then refer the matter to FOS. If the complaint does not involve a claim that you have suffered loss or detriment, you can also report it to the COBA Compliance Manager as per the details below:
 
COBA Compliance Manager
Code Compliance Committee
Ph: 1300 780 808
 

or if you have any questions, please contact us Enquire Now