Customer Owned Banking Code of Practice

The Customer Owned Banking Code of Practice is the industry code of practice for Australia’s customer owned banking institutions and has been developed by the Customer Owned Banking Association (COBA) working with COBA members, consumer groups and other stakeholders.

Around four and a half million Australians bank with a customer-owned banking institution. We meet the same regulatory standards as other banks, and are prudent and strong financial service providers.

Our Code is an important public expression of the value we place on improving the financial wellbeing of our individual members and their communities. This is the reason that we exist.

The Code operates in addition to legislative requirements, establishes higher standards than the law requires, and addresses issues not addressed by the law. It comprises seven key promises and detailed supporting obligations. It includes a requirement that we incorporate these obligations into our contracts with customers.

The 2022 revised code adopts the following seven key promises:

  1. We will deliver banking services in the interests of our customers.
  2. We will obey the law.
  3. We will not mislead or deceive.
  4. We will act honestly and fairly.
  5. We will offer products and services that are fit for general purpose.
  6. We will deliver services with reasonable care and skill.
  7. We will contribute to our community.

Download the Customer Owned Banking Code of Practice 


If you have any questions, please contact us