Qudos Bank, exists for the benefit of our customers. Built by customers for customers, we’ve always been customer-first.


We’re proud to be a member of the Customer Owned Banking Association (COBA) and subscribe to their Code of Practice. We aim to do the right thing by our customers, so we will be complying to this code in our dealings with you. 

Customer Owned Banking Practice: 180 commitments. One goal: Putting you first

What is the customer owned banking code of practice?

At Qudos Bank, we’re proud to be a member of COBA and understand the value customer-owned sector brings to the financial services industry.

The Customer Owned Banking Code of Practice (Code) is the code of practice for Australia’s mutual banks, credit unions and building societies. COBA works closely with their members, consumer groups, and other stakeholders in developing the code of practice. For more than 150 years, customer owned banks have a long and proud history of helping Australians achieve their financial dream.

As of 31st of October 2022, the revised version of the Code of Practice will take into effect and will uphold the principles established in the existing version. The new Code is a response to changes brought about following the Banking Royal Commission, and subsequent revisions to the Australian Banking Association (ABA) code. 

Customer Owned Banking Best Practice Banking Badge

The primary areas of focus for the Code include:

How does a customer-owned bank work?

The difference between banking with a customer-owned bank as opposed to a bigger bank is that our customers have equal partnership stake, meaning that they are the shareholders.

A customer-owned bank like Qudos is not listed on the stock exchange because the profits we make go to our customers instead.

When we generate profit, we’re able to:

  • Offer competitive rates and fairer fees.
  • Have our customers be able to have their equal say in the governance of the company.
  • Give back to the community. For example, as of 2022, we’ve also been partners with Greenfleet, and they’ve planted more than 54,000 trees on our behalf.
  • Invest most of our profits into offering you better products.

In 2022, we were featured in COBA’s Banking with Purpose: Stories from Australia’s customer-owned banking sector Coffee Table Book. You can read impactful stories on how we and other mutual banks give back to the community and its people.

Our 7 promises to you

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 the community.

For more information on our 7 key promises or to read the Customer Owned Banking Code of Practice, please see their Code of Practice 2022 Brochure. To learn more about COBA, visit the COBA website.

Own Your Banking

As a customer-owned bank, Qudos Bank returns all profits to customers in the form of improved services and better products. The following short message from the Customer Owned Banking Association highlights the difference between banking with a bank like Qudos, to banking with one of the big banks. Experience the difference, take back what’s yours!


How can we help?