As Australia’s first customer owned bank, Bank Australia’s vision is responsible banking that generates shared value for customers.
Bank Australia’s purpose is to make banking work profitably on behalf of customers for positive economic, personal, social, environmental and cultural outcomes.
The bank seeks to be considered as a challenger brand, representing thought leadership in customer owned responsible banking.
Having started life as a credit co-operative in 1957, Bank Australia became Australia’s first customer owned bank in September 2011. Its decision to change to a bank was a strategic response to more effectively engage Australians in the value and importance of co-operative enterprise.
Bank Australia is committed to a responsible approach to banking where ‘responsible’ means a culture of effective risk management, compliance and the stewardship of customer value as well as a focus on sustainable development. It has demonstrated that a co-operative approach to banking can create long term value for its owners in a sustainable way.
Bank Australia has been a leader in adopting integrated reporting and maintains an investment grade credit rating from international rating agency Standard & Poor’s. Bank Australia’s customer owned, responsible approach to banking, has seen Bank Australia become one of Australia’s strongest and most successful small banks.
Bank Australia is a customer owned bank. It is accountable to its customers rather than external shareholders. Profits are reinvested back into the bank as well as in the form of competitive interest rates, fees, quality service and a responsible approach to banking. Customers have a say in how Bank Australia profits are made, distributed and invested. Up to 4% of after tax profits are invested into a range of projects that aim to create stronger, more resilient communities and a healthier planet.
Bank Australia offers a range of responsible retail banking products to both personal consumers and community sector organisations.