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Customer Owned Banking Association

Over 4 million Australians bank with a mutual bank or a Credit Union

Customer owned banking aims to challenge the dominance of the major banks across the country.

The Customer Owned Banking Association (COBA) is the industry advocate for Australia’s customer owned banking sector. It is owned by its 66 member institutions which comprise: credit unions, building societies, mutual banks (including Australian Unity), and 1 other; and represents 13 friendly societies through the Friendly Societies of Australia and a number of affiliate members.

The customer owned banking sector has combined assets of $111 billion, offering Australians a competitive alternative to banks and access to a range of savings, investment, loan and insurance products. Unlike banks, profits are not paid to external shareholders, but put back into better products and services for customers and their local communities.

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