BSB 802-395

The Customer Owned Banking Code of Practice (COBCoP) is the code of practice for Australia’s Credit Unions and Mutual Building Societies.

Customer Owned Banking delivers customer-focused and competitive retail financial services. Existing to serve customers, rather than drive high profits for external stakeholders, Credit Unions, Mutual Building Societies and Mutual Banks offer outstanding service and fairer fees.

The Customer Owned Banking Code of Practice is the public expression of our commitment to these fundamental principles – a legal and moral commitment to deliver our promise to customers of mutual financial institutions.

10 Key promises
The Customer Owned Banking Code of Practice is how Credit Unions and Mutual Building Societies will deliver on their pledge to always put members first.

The Code contains 10 promises that outline how they will do this.

Our 10 Key Promises to you:

  • We will be fair and ethical in our dealings with you
  • We will focus on our customers
  • We will give you clear information about our products and services
  • We will be responsible lenders
  • We will deliver high customer service and standards
  • We will deal fairly with any complaints
  • We will recognise customers’ rights as owners
  • We will comply with our legal and industry obligations
  • We will recognise our impact on the wider community
  • We will support and promote this Code of Practice

Download a copy of the Customer Owned Banking Code of Practice.