As Australia’s first customer owned bank, bankmecu is inspired to enhance the economic well-being of its customers in responsible ways.
bankmecu aims to provide its customers with value for money, responsible banking, insurance and financial planning solutions, as well as memorable superior service in a profitable and sustainable way.
The bank seeks to be regarded as the pre-eminent customer owned banking brand in Australia. bankmecu is a challenger brand, representing thought leadership in responsible banking.
Having started life as a credit co-operative in 1957, bankmecu became Australia’s first customer owned bank in September 2011. Its decision to change its designation from that of a credit union to a bank was a strategic response to more effectively engaging Australian consumers around the value and importance of cooperative enterprise.
bankmecu is committed to a responsible approach to banking where ‘responsible’ encompasses a culture of effective risk management, compliance, the stewardship of customer value and sustainable development. It has demonstrated that a cooperative approach to banking can create long term value for its owners in a sustainable way.
bankmecu is one of only three companies in Australia to participate in the International Integrated Reporting Council’s pilot programme. It maintains an investment grade credit rating from international rating agency Standard & Poor’s and was recognised in 2010 as the Most Sustainable Australian Small Company by Ethical Investor. bankmecu’s customer owned, responsible approach to banking, has seen bankmecu become one of Australia’s strongest and most successful small banks.
bankmecu is a customer owned bank. We are accountable to our customers rather than external shareholders. Our 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. Our customers have a say in how bankmecu’s profits are made, distributed and invested. Up to 4% of after tax profits are invested into a range of projects which aim to create stronger, more resilient communities and a healthier planet.
bankmecu offers a range of responsible retail banking products to both personal consumers and community sector organisations.