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Divestment and Bank Australia

If you are looking to divest your assets from a bank that invests in the fossil fuel industry, a switch to Bank Australia may be a good option for you, depending on your financial situation and needs.

Our commitment

Bank Australia has not made and will not make any loans to the fossil fuel industry, including coal and coal seam gas projects. As a responsible bank, all of our lending adheres to our Responsible Investment and Lending Policy.

The divestment movement

People are becoming increasingly conscious of the role their choice of bank plays in supporting specific industries in our community. A growing divestment movement led by organisations such as the Australian Youth Climate Coalition and - has highlighted that for some people, a shift away from banks that fund the fossil fuel industry, is an appropriate ethical and financial decision. If you’re interested to know which banks do and don’t invest in the fossil fuel industry, Market Forces provides a useful resource.

Switching is easier than you think

It seems like such a hassle to switch banks, but it doesn’t have to be. 

1. Open a Bank Australia transaction account

You can apply for an Everyday Access account online or in-branch. Once you have your account, contact us to register for internet banking and download our phone app and you’re good to go.

When you apply for an account you'll also order your Visa or rediCARD. Once your card arrives, activate it using the instructions within the letter and you’re ready to start spending.

2. Ask us for help transferring your credits and debits across

Talk to us - we can help you to transfer your credits (such as your salary and other payments to you) and your debits (such as your mortgage or rent payments). Either call us on 132 888 or complete this form and we can transfer these regular transactions to your new Bank Australia account.

3. Close your old account

Once you’re sure all of your direct debits and credits have been transferred over, contact your previous bank and close the old account. Be sure to follow us on social media so you can find out all of the ways your everyday banking is helping people, planet and prosperity. 

Our business model

We’ve been in business since 1957 and we are one of the strongest small banks in Australia.

As a 100% customer owned bank, we use our customers’ deposits to make loans to other customers. This simple approach to banking is the cornerstone of cooperative banks around the world. We also allocate 4% of our after-tax profits to projects that benefit people, planet and prosperity through the Bank Australia Impact Fund.

We are regulated in the same way as every bank in Australia. Deposits are guaranteed by the Australian Government.

Our environmental projects

Bank Australia’s customers are part-owners in a 927 hectare private Conservation Reserve in Western Victoria managed with the support of our partners Trust for Nature and Greening Australia. We also partner with the Woodlands and Wetlands Trust to help protect endangered species. Our operations have been carbon neutral since 2011. 

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