Each year, Mozo asks Australian banking customers to review their experiences and the products of the country’s banks, mutuals, building societies and credit unions which culminates in the People’s Choice Awards, Australia’s only customer-voted banking awards.
This year, once again, customer-owned providers took home honours in 12 categories and beat out the majors when it came to home loans, personal loans and credit cards. Customer owned banks also won Most Trusted Bank (Police Bank), Most Recommended Bank (Victoria Teachers Mutual Bank) and Best Customer Service (Queenslanders Credit Union) which is no small feat given there were over 200 providers reviewed.
Acting CEO of COBA (Customer Owned Banking Association), Mark Degotardi says the results tell us there’s a growing appetite for a better way of banking.
“The Mozo People’s Choice Awards are tremendous acknowledgement of our commitment to competitive, ethical and responsible banking products and service,” he said.
“Our sector provides banking services to 4 million Australians. We can deliver these results because we are customer owned – what is best for the customer defines the way we operate.”
Degotardi puts this year’s success in Mozo’s People’s Choice Awards down to offering better rates and providing customers with a true sense of being connected to the community.
“Our ability to focus on customers and communities means we are better placed to offer affordable, tailored banking services that meet those needs.”
“We also have a focus on partnerships that stimulate the local economy and support community organisations and charities,” said Degotardi.
This year’s biggest winning credit union was Queenslanders Credit Union which took out four awards; followed by Police Bank and Victoria Teachers Mutual Bank each taking home two awards.
*COBA refers to the Customer Owned Banking Association – the industry advocate for building societies, mutual banks and credit unions.