Supporting Australian Unity Bank customers transition to
Bank Australia

We’re excited to welcome Australian Unity Bank customers to our community that supports 300,000 customers with nearly $17.5 billion in assets and almost 900 employees.    

As a customer-owned bank we put customers at the centre of everything we do. Like Australian Unity Bank, Bank Australia has a long history of supporting its customers and we share a commitment to people, planet, and purpose.   

Here, you'll find all the information about the upcoming Australian Unity Bank transition to Bank Australia, scheduled for Monday 24 November 2025. Both banks are working together to ensure customers have all the information you need for the transition.

Read the transition information booklet

Key benefits 

The transition to Bank Australia will provide a range of benefits to Australian Unity Bank customers including: 

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  • Enhanced customer service 

    Experience the same excellent customer service, but with access to a network of 15 branches across New South Wales, Victoria, Queensland and the ACT.  

  • Improved digital capabilities

    Enjoy a more seamless banking experience thanks to greater investment in digital technology, customer service and security.

  • Long-term sustainability for customer-owned banking 

    Bank Australia's increased scale ensures the continued vitality of customer-owned banking, allowing them to offer competitive products and services. As well as being able to create even greater impact for people and planet on your behalf.  

Key things to know

Why the transition?
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Why is Australian Unity transitioning to Bank Australia.

Actions required
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Find out what Australian Unity customers need to do as part of the transition.

What's changing?
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Learn about the key differences and how the transition will impact Australian Unity customers. 

Get help
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Check out the most frequently asked questions or find out how best to get the answers you need. 

Key dates
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There are some key dates to be across in the lead up to the transition.

Disruptions during transition
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The transition will happen between Friday 21 November and Sunday 23 November. There will be some disruptions to your usual banking access.

Key changes to your banking

  • Products – There will be changes to your products. More details will be shared with you in September. 
  • Membership number – A new Bank Australia number will be provided to you. 
  • Account and BSB number - Your account number and bsb will change with no impact to your direct debits. More information will be provided in October 
  • App and internet banking - You’ll be able to register for Bank Australia internet banking and the mobile app from Monday 24 November.
  • Member shares – All customers will become Bank Australia members, while those without another Australian Unity product will cease their Australian Unity membership. 
  • Daily limits – For most customers there will be changes to your daily transaction limits, with the ability to change manually in the Bank Australia app and internet banking from the 24 November. See full outline of Bank Australia limits for debit and credit cards.
  • Open banking changes – Consent to open banking will not transfer. This means if you are sharing your banking data with accredited date recipient service providers you will need to consent again.
  • ATM access – As a Bank Australia customer, you'll have fee-free access to major bank ATMs (including ANZ, Commonwealth Bank, NAB, and Westpac), but not the Precinct network, and you can still use Australia Post Bank@Post outlets for cash services. Fees and limits may apply.  

Merger focus areas

Enhanced customer experience

More for you, more for customers

  • Enjoy a wider range of products and enhanced services
  • Improved access to better customer service
  • Bigger investment in technology to improve your digital banking experience
Future forward

Building a better bank

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  • We're creating a better bank, not a big bank
  • Greater financial strength and resilience for the long-term
  • Increased career opportunities for our employees
Impact

Greater impact for people and planet

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  • We’ll be able to create even greater impact on your behalf
  • Our commitment to people and planet is as strong as ever
  • We’ll bring together the people and planet focus of both banks
Customer voice

We need your help

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  • Your vote will help two equal partners secure a stronger future together

Frequently asked questions (FAQs)

As we get closer to the transition, we’ll keep this page updated with the latest information to help you stay informed. That includes regularly adding new FAQs based on your feedback and making sure all important updates are shared with you directly.  

Is there anything I need to do now?   

At this stage you do not need to take any action. Australian Unity will continue to deliver the same quality banking service that you expect right up until the transition. Rest assured Australian Unity Bank will operate on a ‘business-as-usual’ basis, remain regulated by APRA, and deposits will continue to be covered by the financial claims scheme. 

There are a few steps to take on or after Monday 24 November and we will provide you with comprehensive instructions on what you need to do.

When will I be given information about setting up my Bank Australia banking access?   

Australian Unity has shared a comprehensive transition information booklet on our behalf.

When will I have access to my accounts as a Bank Australia customer? 

You will be able to access your Bank Australia account from Monday 24 November once you register for online banking and download the mobile banking app. 

Will there be any changes to my deposit accounts?  

Your transaction and savings accounts will move to a similar Bank Australia account.

Any Term Deposit that is in term as of 24 November 2025 will be transferred to Bank Australia with the same rate, interest frequency payment and remaining term that you agreed to with Australian Unity Bank. When your Term Deposit matures from 24 November 2025 you will be able to choose to withdraw or reinvest your term deposit to any Bank Australia term deposit options.

Will there be any changes to my home loan?  

Your home loan will move to a similar Bank Australia account.

Will this impact my membership status with Australian Unity Limited?  

Because you hold an eligible Australian Unity Bank product you are also a member of Australian Unity Limited (the parent company of the bank). Upon completion of the transfer to Bank Australia, your membership with Australian Unity Limited will end and you will become a member of Bank Australia. You can find out more about Bank Australia member benefits at: www.bankaust.com.au/about-us

‍You can continue to access your Australian Unity membership benefits right through to transfer completion. Find out more about these benefits at: www.australianunity.com.au/about-us/membership.

If you hold another eligible Australian Unity product or service (for example private health insurance, a mutual capital instrument, or ownership in one of our retirement villages), you will retain your membership with Australian Unity Limited. You can find out more about your membership benefits at: www.australianunity.com.au/about-us/membership. 

At completion of the transfer, you will also become a member of Bank Australia. You can find out more about Bank Australia member benefits at: www.bankaust.com.au/about-us. 

If I have questions about the changes to my banking who do I contact?  

The quality customer service you expect from Australian Unity Bank will continue right up until the transition date. If you have any questions about the transition to Bank Australia simply call Australia Unity on 1800 998 805, 8.30am to 5.30pm (AEST) Monday to Friday or email transitionsupport@australianunity.com.au.  

How can I tell if I am receiving legitimate communications from Australian Unity Bank?   

We know scammers are increasingly contacting individuals pretending to be their financial institution. Please remember we will never ask you to share your password or PINs over the phone or on email or request that you transfer your money to another bank. If you’re ever unsure about a call or a text from us about the transition, do not provide any of your personal details. If in doubt, hang up and call us directly.

Why Bank Australia? 

Like Australian Unity, Bank Australia has a long history of helping Australians to thrive. It traces its beginnings to the CSIRO Co-operative Credit Society in 1957 and has grown to be one of the largest customer-owned banks in Australia. 

Bank Australia has more than 300,000 customers and is looking forward to welcoming Australian Unity Banking customers. They offer competitive rates and personalised service, with 15 branches across New South Wales, Victoria, Queensland and the ACT.

The evolving banking market is placing increasing demands on smaller credit unions and mutual banks, like Australian Unity Bank. Banks need to operate and remain competitive, with increased investment required, particularly in the digital space, and we are confident that Bank Australia is well placed to provide customers with a future-ready banking experience.

Where can I find out more information?

We will continue to share updates with you directly and update the information and FAQs on our information hub and the Australian Unity website as we get closer to the transition.

Why has Bank Australia chosen to merge with Qudos Bank?

Bank Australia and Qudos Bank have shared values and aligned commitments to customer benefit and positive impact. We believe Bank Australia and Qudos Bank coming together will see us create a better, stronger and more resilient bank. Choosing a values aligned merger partner is essential and we're confident that Qudos Bank is an ideal partner committed to positive impact and customer ownership.

A successful merger would allow us to deliver even better experiences and services for our customers, invest in technology, and increase the reach of our purpose-driven approach to banking to more Australians.

Merger timeline

There are a number of steps and approvals needed for the merger to proceed.

1 Feb 2024

In February 2024 we signed a Memorandum of Understanding (MOU) with Qudos Bank to formalise our intent to merge.

May 2024

From February to May both banks conducted due diligence and each Board agreed to continue to explore the merger

OCTOBER 2024

APRA application lodged.

21 March - 14 APRIL 2025

Member vote. Voting is now open for the proposed merger between Bank Australia and Qudos Bank. Vote now.

16 April 2025

Special General Meeting. Bank Australia's Special General Meeting (SGM) on our proposed merger with Qudos Bank will be held on Wednesday, 16 April at the State Library Victoria and online.

1 july 2025

Merge date. Should this merger be successful, the merged entity will begin from 1 July 2025.

How does the customer vote work?

Customers will be asked to vote on the proposed merger much like our AGM each year. Voting will be open through a third-party online platform prior to a customer vote.

Customers will be provided with a detailed Member Information Book closer to the voting period. This will contain detailed information about the benefits, risks, and financial implications of the merger for customers.

The vote must be approved by 75% of those members voting (whether in person or by proxy) for the merger to proceed.

This merger represents a significant opportunity to create one of Australia's largest customer-owned banks, enhancing our ability to serve you better and make a positive impact on our communities and the environment.

Banking safely and keeping your account secure

We know scammers are increasingly contacting individuals pretending to be their financial institution. Please remember we will never ask you to share your password or PINs over the phone or on email or request that you transfer your money to another bank.  If you’re ever unsure about a call or a text from us about the transition, do not provide any of your personal details. If in doubt, hang up and call us back directly.   

Frequently asked questions

Will we still be Bank Australia?
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The merged bank will operate as Bank Australia Ltd and maintain both Bank Australia and Qudos Bank brands in the period following the merger, with an intention to review the future brand strategy in due course.

Will the merger affect the customer ownership structure?
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No, the merged entity will continue to be 100% customer owned.

When would the proposed merger expected come into effect?
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Should this merger be successful, the merged entity will begin from 1 July 2025.

Will this affect Bank Australia’s public commitments like its 2035 net zero target?
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Key to the proposed merger is the values alignment between the two banks. The merged entity will maintain the public commitments of Bank Australia including:

  • Retaining B Corp status
  • Continuing with key parts of our impact strategies, including climate action and our net zero by 2035 target, nature and biodiversity and First Nations Recognition and Respect
  • Maintaining other existing public commitments including the responsible banking policy to guide what where we lend and invest
Will any branches be closed as a result?
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No, all 15 current branches will be retained and reviewed by the merged entity to support customer service requirements. Head office operations will be split between Collingwood (VIC) and Mascot (NSW).

What does a merger mean for products and services
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Customers will benefit from the merged bank’s approach to products and services, which will leave customers better off overall.

Over time as our systems are integrated, customers will gain access to a wider range of products and services as a result of the merger.

How will the merger affect employees?
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This is an exciting time for employees of both banks. We need our people more than ever, and everyone has a role to play now and in the merged entity.

Once combined, how big would the merged bank be?
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Bringing Bank Australia and Qudos Bank together would create an entity supporting 300,000 customers with total assets approaching $20 billion and served by almost 900 employees.

Who will be Chief Executive Officer (CEO)?
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If the merger proceeds, Damien Walsh (Bank Australia) will become Chief Executive Officer and Managing Director. An executive designate team for the merged bank has been appointed with representatives from Bank Australia and Qudos Bank in line with our merger of equals approach.

Who will be the Board Chair?
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The proposed Board is composed of Jennifer Dalitz (Qudos Bank) as inaugural Chair and Steve Ferguson (Bank Australia) as inaugural Deputy Chair of the merged entity. The merged Board will include equal representation from both banks and will ensure retention of the required skills and experience.

Get in touch if you need help

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If you have any questions about the transition to Bank Australia before 24 November 2025, please call Australian Unity Bank on 1800 998 805, 8.30am to 5.30pm (AEST) Monday to Friday.

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