Bank Australia has been selected as CANSTAR Customer Owned Bank of the Year in recognition of the outstanding value offered by its lending, saving and transactional banking products.
In selecting the winner, CANSTAR evaluated the product offerings of over 50 customer owned banks in Australia, determining that Bank Australia’s products offered the best overall value to customers. CANSTAR particularly highlighted Bank Australia’s residential home loan product as offering outstanding value compared to other products in the market.
CANSTAR Group Manager, Research, Mitchell Watson, said:
“Bank Australia has showed outstanding value overall across the product areas that we consider within our star ratings, particularly within residential home loans.”
“Bank Australia not only offers outstanding value products within the lending space, but also offers its customers value for money when it comes to its savings and transaction accounts. Overall CANSTAR researched 266 deposit accounts, 1,211 home loans, 63 credit cards and 200 personal loans, so Bank Australia's achievement is both significant and well-deserved.”
Bank Australia’s Managing Director Damien Walsh said the award was an endorsement of the organisation’s unique mutual prosperity proposition – offering great value to the customer while also operating in an ethical and socially responsible manner.
“We’re thrilled that our commitment to offering great value to our customer owners has been recognised by CANSTAR through this award,” Damien said.
“We are proud to be able to offer great value loans, everyday banking and deposit products to the market, while also working to create positive social and environmental outcomes.”
CANSTAR is a research and ratings organisation which provides quality fact-based data and ratings to consumers and financial institutions around Australia.
To find out more about CANSTAR, visit www.canstar.com.au.