Complying with the Code

Credit unions, mutual banks and mutual building societies that subscribe to the Customer Owned Banking Code of Practice are required to meet the Code’s standards of practice and service.

Their compliance with the Code is assessed annually through our monitoring program. Under our Charter, we can impose a range of sanctions to enforce compliance.

While the Code comprises 30 obligations, we focus on three here: financial difficulty, advertising and direct debit arrangements. These are often a source of difficulty for customer owned banks. Read on for guidance, checklists and helpful tips.

If you need guidance on Code obligations not covered here, contact us, we’re happy to help.

Find out more

Customer Owned Banking Code of Practice (PDF, 781 KB, 32 pages)

Customer Owned Banking Association Compliance Manual (contact COBA for a copy)

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