Customer Owned Banking Code of Practice
The Customer Owned Banking Code of Practice (COBCOP) is the code of practice for Australia’s credit unions and mutual banks and mutual building societies. Our members can have confidence in knowing we are committed to fair and responsible banking. The Code is just another example of the value customer owned banking institutions place on improving the financial wellbeing of their members and their communities. The Customer Owned Banking Code of Practice commenced on 1 January 2014, following the completion of an independent review of the Code's predecessor, the Mutual Banking Code of Practice.
Qantas Credit Union is proud of our ongoing commitment to the Customer Owned Banking Code of Practice, which reinforces the value we place on improving the financial wellbeing of our Members.
What does the Customer Owned Banking Code of Practice mean for you?
By signing up to the code, we have agreed to the following promises for our Members:
We will be fair and ethical in our dealings with you
We will always act honestly and with integrity, and will treat you fairly and reasonably in all our dealings with you.
We will focus on our Members
We will place a high priority on service, competitiveness and member focus.
We will give you clear information about our products and services
We will provide clear and accessible information about our products and services, so you can make an informed decision about the product you want.
We will be responsible lenders
We will lend responsibly, and will try to assist you if you find yourself in financial difficulties.
We will deliver high customer service and standards
We will issue and distribute products and provide services that are useful, reliable and of value to our members and customers.
We will deal fairly with any complaints
We will handle complaints promptly and fairly and provide you with information on avenues for resolving disputes if we are not able to reach agreement with you.
We will recognise Members rights as owners
As mutual institutions our members are our owners.
We will comply with our legal and industry obligations
We will be responsible, prudent managers of our institution, and will comply with all our obligations under the law and relevant codes of practice.
We will recognize our impact on the wider community
We will take account of the impact of our operations on staff, the communities we serve and our Members.
We will support and promote the Customer Owned Banking Code of Practice
We will promote the Customer Owned Banking Code of Practice, ensure that our staff are trained to put it into practice, and support its monitoring and effectiveness.
You can download the Customer Owned Banking Code of Practice below. If you would like it mailed to you please call us on 1300 747 747 or visit our nearest branch to pick up a copy.