Acquiring a share in Bank Australia makes you a part-owner of the bank.
Following a successful resolution voted on by customers at last year’s Annual General Meeting, customers joining the bank will be issued with a share free of charge.
As part of implementing this resolution, every personal customer who currently does not own a share, or who jointly owns a share with another customer, will be automatically issued with one.
During March this year we will also reimburse those customers who have previously paid $5 for their share. In most instances this refund will be paid into your main savings or transaction account.
As a customer owned bank, each Bank Australia customer has one share, which cannot be sold or transferred to anyone else.
As part owners, customers:
- Have a say in how we operate the business – you can vote on matters of importance at our Annual General Meeting. Being a shareholder in the bank does not entail obligations, you can have as much or as little involvement as you like
- Are a part-owner of the Bank Australia Conservation Reserve, which is located in the Wimmera region of Western Victoria, and is used to offset the biodiversity loss and greenhouse gas emissions associated with financing new home construction and car loans*; and
- Have the chance to initiate real change by helping us to set the priorities of the Bank Australia Impact Fund – each year the bank invests up to 4% of after tax profits through the fund which invests in initiatives to create measurable environmental, social and economic outcomes.
If you have any questions about your shareholding, please call us on 132 888.
*In 2017 we changed the way we offset emissions associated with our car loans. More information on how we offset our car loans is available here.