As Australia’s first customer owned bank, bankmecu’s vision is responsible banking that generates shared value for customers.
bankmecu’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, bankmecu 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.
bankmecu 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.
bankmecu has been a leader in adopting integrated reporting and maintains an investment grade credit rating from international rating agency Standard & Poor’s. 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.