Choosing a bank that you can trust with your money can often be a difficult process, particularly given the current environment in the banking sector.
What should you base your selection criteria on: competitive interest rates, the values and investment policies of the bank or the role it plays in the community? At Bank Australia we believe that all these considerations are relevant in your choice of bank.
As Australia’s first customer owned bank, Bank Australia exists to create mutual prosperity in the form of positive economic, social, environmental and cultural impact. But what do we mean by that? And how do you, as a customer, benefit? Here’s a look at just a few reasons.
We do things a little differently to other banks. Being customer-owned means we don't have shareholders. This means instead of answering to external shareholders, we answer to you. As a customer, you have a very real say in how the bank is run, including a vote on our directors' salaries and a say in where we invest our profits.
Our profits are returned to customers through better rates and fees, and our investments are used to create positive social and environmental change.
No executive bonuses or sales-based commissions
To ensure our staff are focused on providing the best possible outcomes for our customers, we don’t pay executive bonuses or sales based commissions.
Did you know banks use the money in your account to make loans and investments? Well, the types of loans banks make can go to industries that do good or those that do harm. So, where you money goes ultimately shapes the world we all live in.
At Bank Australia we say your money will be "clean" because we don't lend it to industries that do harm, including coal, weapons, gambling, tobacco and live animal exports.
Instead, as a customer-owned bank, we believe it's important to use your money in responsible ways, creating positive impact for people, their communities and the planet. As a customer, you’ll know your money is supporting projects like community renewable energy and specialist disability accommodation.
Every Bank Australia customer is a part owner in our 927 hectare Conservation Reserve, a group of three properties on biodiverse bushland which is protected from development forever, and a world-first for a bank. As a part-owner, you will be helping to protect the reserve’s unique habitat and the 227 native plant and 270