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Bank Australia customers will benefit from reduced fees and charges across our range of products and services.
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A new chapter begins - Bank Australia and Qudos Bank
Coming together with purpose
Following our recent successful merger vote with Qudos Bank, our two customer owned banks came together on 1 July 2025. We're committed to build a better, stronger and more resilient bank while keeping you at the centre of everything we do.We’re ready to offer even better services and banking experiences. We’re excited to now be able to provide to you new benefits like reduced fees and expanded customer service as a result of our successful merger.
Building a better banking experience for you
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Reduced fees and charges
Access to more branchesExpanded in-person services, with access to 15 shared branches across New South Wales, Victoria, Queensland and the ACT. Read more about our branches services.
Expanded Bank@Post servicesCustomers will have access to expanded Bank@Post services, including cash withdrawals, through Australia Post outlets from 1 July.
SGM 2025 Vote Results
After a fantastic voting period and Special General Meeting, our customers have overwhelmingly voted in support of the proposed merger Qudos Bank.
We received a very high level of participation, with 7.1% of our total customer base voting on the Special Resolution. This follows Qudos Bank's Special General Meeting and successful member vote, with 78% voting in support of the merger.
The merger resolution received 91.00% of votes in favour and was carried. View our results below.
Number
%
Votes cast for the motion
11,434
91.00%
Votes cast 'AGAINST' the motion
1,131
9.00%
TOTAL VOTES CAST
12,649
100%
Votes abstained
84
Carried
Chair and Managing Director voting announcement
Hear from our Managing Director, Damien Walsh and Chair Steve Ferguson reflect on a successful member vote.
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10 key things to know about our proposed merger with Qudos Bank
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1. Customer vote
91% of customers have voted in support of the proposed merger with Qudos Bank. View results.
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2. Member Information Booklet
The Member Information Booklet contains additional important information about, and the reasons for, the Merger, including practical effect of the Merger. Read our Member Information Booklet.
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3. Shared values
Bank Australia and Qudos Bank have very similar values, and we’re both committed to remaining customer owned and creating positive impact.
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4. Impact commitments
We’ll remain committed to creating positive impact, and by merging with Qudos Bank we’ll be able to do more for people and the planet.
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5. Greater investment
The merger will help us to increase our investment in digital technology, security and customer service.
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6. Products and services
Customers will benefit from the merged bank’s approach to products and services, which will leave customers better off overall.
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7. More branches
The merged bank will maintain 15 branches across New South Wales, Victoria, Queensland and the ACT.
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8. Employee job security
Employees from both banks will have roles in the merged bank. We’ll need everyone pitching in to build an even better bank for our customers.
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9. Career benefits
The merger will create more career development and learning opportunities for our team members.
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10. Regulator approval
Following final APRA approval, Bank Australia and Qudos Bank have joined together on 1 July 2025 for the first day of operations as one entity.
About Qudos Bank
Established as the credit union for Qantas employees in 1959, Qudos Bank traces its legacy through its support of people working in the aviation industry to today where it supports the banking needs of a diverse customer base across Australia. This heritage mirrors Bank Australia’s origins supporting employee credit unions in diverse sectors like science and technology, education, energy, media and aviation among many others since 1957.
Qudos Bank has a fundamental commitment to the principles of customer ownership and putting the needs and interests of customers at the heart of its operations. And like Bank Australia, Qudos Bank reinvests profits back into the business to provide fair rates and fees for customers and contributes to a range of initiatives that create positive community and environmental impact.
Qudos Bank is a financially strong and well managed customer owned bank. Like Bank Australia, Qudos Bank has performed well over the past 5 years, experiencing sustainable growth and improving customer experience while effectively managing its costs. Qudos Bank operates a small network of 5 branches, which will bring the Merged Bank’s total branch footprint to 15 branches across Victoria, New South Wales, Queensland and the ACT.
Merger timeline
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1 July 2025
Merge date. Bank Australia and Qudos Bank merged on July 1 2025 to offer stronger, more connected banking services and experiences for our members.
21 March - 16 April 2025
Member voting period. The merger resolution received 91.00% of votes in favour and was carried.
October 2024
APRA application lodged.
May 2024
From February to May both banks conducted due diligence and each Board agreed to continue to explore the merger.
1 Feb 2024
In February 2024 we signed a Memorandum of Understanding (MOU) with Qudos Bank to formalise our intent to merge.
Latest news and key information on the proposed merger
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Busting myths about our merger with Qudos Bank
Greater impact for people and planet
Understanding your right to vote
Bank Australia and Qudos Bank to proceed with proposed merger following initial due diligence
Bank Australia and Qudos Bank to explore merger to create Australia’s leading purpose driven bank
Frequently asked questions
Will we still be Bank Australia?
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?
No, the merged entity will continue to be 100% customer owned.
When would the proposed merger expected come into effect?
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?
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?
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
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.
Once combined, how big would the merged bank be?
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.
How will the merger affect employees?
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.
Who will be Chief Executive Officer (CEO)?
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?
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.
We want to hear from you
As a customer-owned bank, your feedback is important to us. Send us a message so we know what you think.