Yes. We’ve been in business since 1957 and we are one of the strongest small banks in Australia.
We are regulated in the same way as every bank in Australia. Deposits are guaranteed by the Australian Government. Learn more.
About Bank Australia
Who we are
We started in 1957 as the CSIRO Co-operative Credit Society and have grown and evolved, joining together 72 credit unions and co-operatives to become Australia’s first customer-owned bank. We changed our name to Bank Australia in 2015.
We are owned by our customers, which means we don’t answer to shareholders. Our profits are returned to customers through better rates and fees and our investments are used to create positive social and environmental change.
Learn more about responsible banking >
Our purpose and values
Bank Australia is committed to customer ownership and to operating in accordance with the international principles for cooperative financial institutions.
Our aspiration: to be Australia’s leading customer owned responsible bank
Our purpose: to create mutual prosperity for our customers in the form of positive economic, personal, social, environmental and cultural impact
Our values:
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- Honesty and integrity
- Care and empathy
- Belonging and community
- Future and generational thinking
- Authenticity and transparency
Our brand: the bank Australia needs
What is 'clean money'?
At Bank Australia, we say our money is ‘clean’ because it is never loaned to industries (eg coal, nuclear weapons, gambling, tobacco, live animal export) that do harm.
Instead, as a customer-owned bank, we believe it’s important to use our customers’ money in responsible ways, creating positive impact for people, their communities and the planet.
Just becoming a customer makes you a part-owner in our 927 hectare Conservation Reserve – a world-first for a bank.
Learn more about clean money >
Banking services
We have 20 branches located across Australia, full online and mobile app banking and you can use any big four bank ATM for free.
We are committed to keeping jobs in Australia and our contact centre is located in regional Victoria.
By becoming a customer with us you will also have access to Apple Pay, Google Pay and Android Pay.
Additionally your money is guaranteed by the Federal Government, exactly the same as the big four banks.
Manage your banking 24/7 with the Bank Australia app.
What we stand for
We believe that we have a duty to use the tools of banking to create positive impact for people and our planet.
We want to see Australians thrive in a fair, just and progressive society, share in a sustainable economy, and live in a safe and healthy environment.
We are committed to taking action on the issues that matter most to our customers. This is responsible banking in action.
Divestment
We're working to create a healthier planet by refusing to put money into the fossil fuel industry. It's an important part of what makes us a responsible bank, and why we're recommended by fossil fuel divestment advocate Market Forces as a green banking alternative.
Animal welfare
We’re the first Australian bank to rule out lending to the live animal export and intensive farming industries due to their negative impact on animal welfare. We believe that giving people a way to move their money away from banks that lend to these industries can help Australia to shift towards more sustainable farming practices and stop live export of animals. We would like to see a future in which all farming values animal welfare.
Renewable energy
We’re committed to sourcing 100% of our electricity from renewable sources by 2020. To achieve this, we are part of the Melbourne Renewable Energy Project, a group of 14 organisations who have joined together to source their electricity from a new wind farm in Victoria. We also support community owned renewable energy projects.
Conservation reserve
Every Bank Australia customer is a part-owner in our very own Conservation Reserve - a world first for a bank. The reserve was purchased in 2008 and since then we've revegetated and preserved 927 hectares (or 456 MCGs) of biodiverse land, and signed a covenant that protects it from development - forever.
Customer ownership
We do things a little differently to other banks. Being customer-owned means we’re not listed on the stock exchange. This means instead of answering to external shareholders, we answer to you. As a customer, you have a very real say in how the bank is run, including a vote on our directors' salaries and a say in where we invest our profits.
Carbon neutral
We're proud to lead the banking industry with our efforts to conserve the environment that supports us all. We have been a carbon neutral bank since 2011 and consider the environmental impacts of our products including offsetting the carbon emissions associated with every customer car loan.
Certified responsible products
We're the first bank in Australia to have all of its deposit and home lending products certified 'responsible' by the Responsible Investment Association of Australasia. We focus on investments that will benefit people and planet. For example, we lend to community housing providers to help build affordable and social housing for people who need it.
Reconciliation
We're working to close the gap between Aboriginal and Torres Strait Islanders and other Australians. We've developed our Reconciliation Action Plan in collaboration with Reconciliation Australia which outlines tangible action to improve relationships, increase respect and create equal opportunities.
Affordable housing
We’re dedicated to making housing more accessible. That’s why we lend over $120 million to the affordable housing sector, which helps build homes for people who need it most. We also participate in initiatives to provide people on a low income with alternative entry to the housing market.