The Code Compliance Committee supports credit unions, mutual banks and mutual building societies to achieve service standards Australians can trust. We do this in three ways:
We monitor compliance with the Customer Owned Banking Code of Practice. This Code is essentially a set of promises outlining how Australia’s customer owned banks should behave in their dealings with customers.
We investigate allegations that a customer owned bank has breached its obligations under the Code. If a breach has occurred, we work with the customer owned bank to ensure the breach does not happen again.
We engage with stakeholders around Australia to share our experience of Code compliance and influence positive changes in industry. This work includes: