As a shareholder you have the right to vote on key matters that determine the future of the bank. This gives you the power to have your say on key decisions such as board elections or major changes like our proposed merger with Qudos Bank.
Who can vote?
All customers over the age of 18 have a right to vote, each member receives one (1) vote which plays an important role in shaping our bank's future.
What do customers vote on?
- Board of Directors elections & remuneration: the board of directors represents the interests of our customers. Customers vote to ensure that the directors and their remuneration align with member values, usually at the Annual General Meeting.
- Major changes: occasionally Bank Australia may propose changes that will affect our customers, for example our proposed merger with Qudos Bank. These changes will require the support and approval of our customers, allowing you to have your say.
- Other special resolutions: as shareholders, our customers may be asked to approve external auditors or changes that affect our Constitution.
Why does voting matter?
- Although you don’t have to vote, voting ensures the bank's direction and priorities align more closely to the needs and values of our customers. This helps us continue to put our customers first. As with any voting, it’s essential we have as many customers as possible participate in the vote so we can accurately reflect the views of the entire Bank Australia community.
How to vote?
In early 2025 we'll ask customers to vote on our proposed merger with Qudos Bank and hold a Special General Meeting (SGM). Voting is easy! Customers will be able vote before, or during the SGM.
To vote before the SGM, you need to ensure you submit your vote early to meet specific vote deadlines. Detailed voting instructions are sent to all customers when voting opens and usually include;
- Postal vote: If you receive paper statements, you’ll get a voting form in the mail. For those who opt for digital statements, you’ll need to contact our friendly team for a postal vote. Your vote can be returned to Bank Australia by email, or post.
- Online vote: All customers can vote directly by using a unique link that will be sent to you prior to voting opening, and entering a specific identifier - usually your Member number. We will also include voting links on our website.
To vote during the SGM, you’ll need to attend in-person or online. In-person attendees can vote via a form supplied to all attendees, and online attendees can vote via live polls for each notice or item.
Frequently Asked Questions
Do I have to vote?
Although voting is not mandatory, we really encourage customers to have their say in shaping the future of our bank. It’s part of the Bank Australia constitution to allow customers a chance to share their voice and part of our customer-owned philosophy to continue to put customers first.
What happens if I don’t vote?
While we strongly encourage all customers to vote, for those who chose not to there is no penalty, however the outcome will be determined by those customers who did vote. Your rights to vote as a customer of Bank Australia will be retained for the next AGM or SGM.
Can I vote early?
Yes, we allow our customers as long a voting window as possible so you can vote when and how it’s convenient for you. Online voting opens when we issue the notice of meeting and closes 48 hours before the meeting, or you can vote at the meeting itself.
What happens at the Annual or Special General Meeting?
At our AGMs, you can expect several key notices and decisions to take place. There will usually be an address from the Chairperson or CEO who will run through key points from the Annual Report. There will be discussion and voting on Directors elections, remuneration and other special resolutions.
It’s important for us to continually listen to the voices of our customers, as such there is a dedicated Q&A session so customers have the opportunity to engage directly with the board and executive leadership.
Can I delegate my vote to someone else?
Yes, customers can appoint a proxy to attend the AGM or SGM and vote on your behalf. A proxy may be an individual or a body corporate, and need not be a member of Bank Australia. For more information on proxy voting keep an eye on specific voter information for each AGM or SGM.
How many votes do I get?
Each customer receives one (1) vote.
How will I be informed about voting opportunities?
customers will receive notification of the next AGM or SGM through email, post or on the Bank Australia website.
