Our Code of Practice

The Mutual Banking Code of Practice is the code of practice for Australia’s credit unions and mutual building societies. The Code has been developed in close consultation with the community, government, consumer groups and our members.

Credit unions and mutual building societies are owned by our members — this is what being a mutual means. As such, we are focused on member-benefit, community involvement, fairer fees and customer service.

As a Credit Union we already comply with a range of regulatory requirements including:

• Responsible financial management requirements (under the Banking Act 1959 and our regulation by the APRA)
• Corporate and financial services’ licensing, advice and training, and disclosure regulation (under the Corporations Act 2001 and our regulation by ASIC)
• Consumer credit laws
• Privacy, fair trading and other Commonwealth, State and Territory legislation.

10 Key promises

The Mutual Banking Code of Practice is how credit unions and mutual building societies will deliver on their pledge to always put members first.

The Code contains 10 promises that outline how they will do this.

Our 10 Key promises to you

1. We will be fair and ethical in our dealings with you
2. We will focus on our members
3. We will give you clear information about our products and services
4. We will be responsible lenders
5. We will deliver high customer service and standards
6. We will deal fairly with any complaints
7. We will recognise member rights as owners
8. We will comply with our legal and industry obligations
9. We will recognise our impact on the wider community
10. We will support and promote this Code of Practice.

Click here to download a copy of the Mutual Banking Code of Practice

Questions?

For any other information please contact us