Customer Owned Banking

Customer Owned Banking COBA is the industry body representing the customer owned banking sector, comprising credit unions, building societies and mutual banks.

The largest global event for customer-owned banks is almost here - less than 50 days to go ✨This July, join more than 2,...
31/05/2026

The largest global event for customer-owned banks is almost here - less than 50 days to go ✨

This July, join more than 2,500 delegates from over 70 countries to make global connections, explore the future of customer-owned banking, and gain tools to drive meaningful change in your organisation and community.

It's all happening at the World Credit Union Conference 2026 in Sydney. Explore the full program here 👉 https://wcuc.org/program

🗓️ 19-22 July 2026
📍 ICC Sydney

COBA acknowledges the release of draft industry codes for the , and will work constructively with government and indust...
28/05/2026

COBA acknowledges the release of draft industry codes for the , and will work constructively with government and industry to ensure it delivers practical and effective scam prevention outcomes for consumers.

COBA will review the draft industry codes and rules released today in detail, with a focus on ensuring they deliver effective, consistent obligations across sectors and reduce gaps that scammers exploit.

“Scams have devastating impacts on individuals and communities. It is critical that the new framework focuses on disrupting scam networks and stopping fraudulent transactions before they traumatise Australians,” COBA CEO Michael Lawrence said.

“The framework should remain focused on preventing in the first place, while making Australia a less attractive target for criminal networks.”

A recent COBA survey found the threat of scams remains real, with nearly nine in ten Australians reporting that they frequently encounter such fraudulent activity. Almost half (42%) of consumers experience their most frequent scam attempts via phone calls or SMS, 35% see them through phishing emails, and 10% encounter them on social media.

Read the full media release here: https://www.customerownedbanking.asn.au/scam-prevention-framework-spf-laws/

Dnister Bank has been a trusted customer-owned institution for 75 years, deeply rooted in Australia’s and communitie...
22/05/2026

Dnister Bank has been a trusted customer-owned institution for 75 years, deeply rooted in Australia’s and communities.

Combining multi-lingual staff and culturally informed services with secure, modern banking capabilities, Dnister ensures members feel supported and understood at every step. This includes going beyond banking to support newcomers and those displaced by the war in Ukraine with practical guidance, education, and community connection.

As it enters a new chapter, recently rebranded from Dnister Ukrainian Credit Co-operative, CEO Ashley Hood outlines the bank’s current priorities and its vision for the future: https://www.customerownedbanking.asn.au/dnister-bank-rebrand-ukrainian-latvian/

May marks Domestic and Family Violence Prevention Month, a time to raise awareness of the many forms abuse can take and ...
19/05/2026

May marks Domestic and Family Violence Prevention Month, a time to raise awareness of the many forms abuse can take and the role we all play in creating safer communities. One of the most common yet often overlooked forms of domestic violence is , where money, employment, or access to finances are used as tools of power and control.

“Research shows that women are more likely to talk to their bank about economic abuse than to a specialist family violence service provider. This is because money gives you choices – to leave, to disentangle and to start again," explains financial safety expert Catherine Fitzpatrick, Founder of Flequity Ventures.

Financial abuse can look like controlling or withholding funds, making one partner liable for bills or debt, or even using banking transactions to intimidate, threaten or manipulate.

Learn more about the warning signs, and the ways your customer-owned bank can intervene, here: https://www.customerownedbanking.asn.au/signs-financial-abuse-help-bank/

The countdown is on! In less than 70 days, the global customer-owned banking community gathers in Sydney for four inspir...
15/05/2026

The countdown is on! In less than 70 days, the global customer-owned banking community gathers in Sydney for four inspiring days of ideas, innovation, and connection at the World Credit Union Conference 2026.

With 25+ sessions covering governance, financial inclusion, housing affordability, geopolitics, sustainability and more, WCUC 2026 will feature the key conversations and issues shaping our sector.

Don't miss your opportunity to be a part of the largest global event for customer-owned banks, co-hosted by the World Council of Credit Unions and COBA.

Explore the full WCUC 2026 agenda 👉 https://wcuc.org/program

📅 19-22 July, 2026 at ICC Sydney

The Interim Report for the independent review of the Customer Owned Banking Code of Practice has been released.The repor...
14/05/2026

The Interim Report for the independent review of the Customer Owned Banking Code of Practice has been released.

The report sets out independent reviewer Eva Scheerlinck’s preliminary findings and 56 draft recommendations, including strengthening protections for financial abuse, and supporting customers experiencing vulnerability and the effectiveness of hardship assistance.

“We are grateful for the extensive feedback received to date, which has been instrumental in shaping the Interim Report. I am now seeking feedback on my proposed recommendations that make structural changes to the Code to clearly define the outcomes customers can expect while preserving the unique ethos of customer-owned banking – a sector defined by its commitment to the people and communities it serves," Ms. Scheerlinck said.

Stakeholders are invited to review the Interim Report and provide feedback on the draft recommendations.

More information about the Code review, and a copy of the Interim Report, can be found here: https://www.customerownedbanking.asn.au/code-review/

Read the full media release here: https://www.customerownedbanking.asn.au/interim-report-cobcop-code/

Customer-owned banks have welcomed the Federal Government’s focus in the latest Budget on boosting productivity and stre...
12/05/2026

Customer-owned banks have welcomed the Federal Government’s focus in the latest Budget on boosting productivity and strengthening the Consumer Data Right (CDR).

The Government has signalled its intent to modernise and simplify financial sector regulation, changes that aim to reduce unnecessary disclosure requirements and streamline regulatory frameworks specifically for small and medium-sized banks.

“Reducing red tape will enable customer-owned banks do what they do best – put the customers and communities they serve first, deliver competitive rates and market-leading services, and on the bigger picture, provide much needed choice for Australian consumers,” COBA CEO Michael Lawrence said.

The Budget also commits to expanding the CDR framework, including exploring the sharing of certain ATO-held data through the system, a move COBA has advocated for.

“Customer-owned banks have always supported the intent of the CDR to increase competition and to deliver better outcomes for customers, and we have been engaging with the government and regulators to shape solutions that reduce participant costs while increasing value for consumers,” Mr. Lawrence said.

“Including government data in the CDR will lead to more secure outcomes for consumers and banks and ultimately drive uptake and provide more choice for customers.”

Read the full media release here: https://www.customerownedbanking.asn.au/customer-owned-banks-federal-budget/

This evening, Treasurer Jim Chalmers MP will hand down one of the most consequential Federal Budgets in more than a deca...
12/05/2026

This evening, Treasurer Jim Chalmers MP will hand down one of the most consequential Federal Budgets in more than a decade.

The COBA team is at Parliament House, closely analysing what the means for Australia’s customer-owned banking sector and the communities our members serve. Members can expect a detailed Budget briefing delivered to their inboxes later this evening.

We’re also pleased to offer members an economic briefing webinar next week, where COBA Chief Economic Adviser Nicki Hutley will unpack the implications of the Budget and explore the geopolitical developments shaping both the Australian and global economy. Members can register via COBA Weekly.

COBA will continue advocating for a diverse, competitive and customer-focused banking sector that delivers for all Australians.

As fuel prices continue to put pressure on household budgets, it’s important to stay vigilant of scammers taking advan...
04/05/2026

As fuel prices continue to put pressure on household budgets, it’s important to stay vigilant of scammers taking advantage of the situation.

Customers are urged to cautious of phishing attempts targeting unsuspecting consumers. This could look like unexpected messages or links promoting fuel rebates, discounts, or even fake fuel price comparison websites that ask for your personal or financial details.

A good rule of thumb: legitimate organisations will never contact you out of the blue asking for passwords, credit card information, or other sensitive data.

Stay informed, stay cautious, and help protect yourself and others.

Read more about the warning signs here: https://www.customerownedbanking.asn.au/fuel-crisis-phishing-scams-alert/

Have you noticed your bank or financial adviser asking more probing questions lately? No, it isn’t because they’re being...
01/05/2026

Have you noticed your bank or financial adviser asking more probing questions lately? No, it isn’t because they’re being nosy.

In March 2026, Australia’s financial landscape underwent its most significant shift in decades, with reforms designed deter, detect and disrupt and .

So if you’re wondering why you're getting more questions, or why your “quick bank transfer” might suddenly require a bit more paperwork, here’s what you need to know: https://www.customerownedbanking.asn.au/aml-ctf-laws-customer-bank-questions/

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