Small financial institutions are targeting the disgruntled customers of the nation’s big banks, which remain under the blowtorch of a royal commission.
The Customer Owned Banking Association – which represents credit unions, building societies and mutual banks – has launched a new campaign promoting the sector’s customer focus because 100 per cent of profits are used for their benefit.
”Own Your Banking’ is a direct response to our members telling us they’ve seen an uptick in customer interest and enquiries because people are shocked by stories they’ve been hearing in the royal commission,’ COBA chief Michael Lawrence said in a statement.
He says the campaign will let consumers know there are plenty of alternatives in the Australian banking markets that can be trusted to put them first.
Four million Australians already bank with 70 mutual banks, credit unions and building societies across the country.