Report 34 – Annual Report 2012/2013

The Code Compliance Committee is pleased to advise that it has released its Annual Report for 2012-2013 in accordance with section E18 of the Mutual Banking Code of Practice (the Code).

A copy of the Report can be downloaded here .

 The 2012-2013 Year at a Glance section on page 3 of the Report, sets out the Committee’s key achievements for the reporting year in monitoring the activities of those mutual banks, credit unions and mutual building societies (Customer Owned Banking Institutions) that voluntarily subscribe to the Code.

The Report also outlines the Committee’s work to influence improvements in the standards of practice and service of the Australian Customer Owned Banking Industry and how the Committee aims to build on that work in the future.

 The Committee’s involvement in the Independent Review of the Code of Practice during the past year was a major undertaking. The Committee is looking forward to working with all stakeholders on the transition to the 2014 Customer Owned Banking Code of Practice. It expects that Code subscribers will invest in training and development to ensure that they are applying changes to the Code’s obligations from 1 January 2014, including those related to advertising and promotional material, reverse mortgage loans, the provision of credit and financial difficulty.

 The Committee welcomes any feedback or comments to [email protected].

 

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