If you are looking to divest your assets from a bank that invests in the fossil fuel industry, a switch to Bank Australia may be a good option for you, depending on your financial situation and needs.
Bank Australia has not made and will not make any loans to the fossil fuel industry, including coal and coal seam gas projects. As a responsible bank, all of our lending adheres to our Responsible Investment and Lending Policy.
The divestment movement
People are becoming increasingly conscious of the role their choice of bank plays in supporting specific industries in our community. A growing divestment movement led by organisations such as the Australian Youth Climate Coalition and 350.org - has highlighted that for some people, a shift away from banks that fund the fossil fuel industry, is an appropriate ethical and financial decision. If you’re interested to know which banks do and don’t invest in the fossil fuel industry, Market Forces provides a useful resource.
Switching is easier than you think
It seems like such a hassle to switch banks, but it doesn’t have to be. Follow our three steps to switch or call us today on 132 888.
Our business model
We’ve been in business since 1957 and we are one of the strongest small banks in Australia.
As a 100% customer owned bank, we use our customers’ deposits to make loans to other customers. This simple approach to banking is the cornerstone of cooperative banks around the world. We also allocate 4% of our after-tax profits to projects that benefit people, planet and prosperity through the Bank Australia Impact Fund.
We are regulated in the same way as every bank in Australia. Deposits are guaranteed by the Australian Government.
Our environmental projects
Bank Australia’s customers are part-owners in a 927 hectare private Conservation Reserve in Western Victoria managed with the support of our partners Trust for Nature and Greening Australia. We also partner with the Woodlands and Wetlands Trust to help protect endangered species. Our operations have been carbon neutral since 2011.