The Customer Owned Banking Code of Practice (the Code) sets out the standards of service that subscribers commit to providing to customers and the community, and the standards by which they be held accountable. It outlines what a customer can expect when dealing with a Code subscriber.


The Code includes the following key promises that a Code subscriber makes to its customers and owners:

  1. We will deliver banking services in the interests of our customers.
  2. We will obey the law.
  3. We will not mislead or deceive.
  4. We will act honestly and fairly.
  5. We will offer products and services that are fit for general purpose.
  6. We will deliver services with reasonable care and skill.
  7. We will contribute to our community.

Our Customer Owned Banking Code of Practice (the Code) has been developed to improve service standards for customers who engage customer owned banking institutions for assistance with banking products and services. It is an important public expression of the value the customer owned banking industry places on improving the financial wellbeing of individual members and their communities.

The Code operates in addition to legislative requirements, establishes higher standards than the law requires and addresses issues not addressed by the law. It comprises seven key promises and detailed supporting obligations.

It includes a requirement that customer owned banking institutions incorporate these obligations into their contracts with customers, enabling customers to enforce both the key promises and the detailed obligations.

The Code should give consumers the confidence of knowing that they are protected by a market-leading commitment to fair and customer-centric banking written in plain English.

The Customer Owned Banking Code Compliance Committee (COBCCC) is an independent body that administers and enforces the Code. Our aim is to improve the customer owned banking industry’s service to customers by monitoring compliance, providing guidance and support, and working with Code subscribers to fix any issues.


The Customer Owned Banking Code Compliance Committee (COBCCC) is the independent body that monitors and enforces the Code.

Please let us know if you are concerned that your customer owned banking institution has breached the Code.

You can report suspected breaches here or by email on [email protected].

If you make a complaint to your customer owned banking institution, it is required to keep you updated while progressing the complaint.

It will also need to advise you of complaint decisions within an appropriate timeframe and provide information at specific points during the complaint process.

The customer owned banking institution will also provide you with contact information for the Australian Financial Complaints Authority if you are not happy with the progress or outcomes of your complaint.

The customer owned banking institution will abide by the Privacy Act when they collect, use, store, or disclose information about you.

If you request this information, it will be provided within timeframes relevant to personal information access requests.

You can find examples of Code breaches here