Meet Australia’s Best Customer Owned Bank: Bank Australia

It’s that time of year again, folks! After hunting through the Mozo Experts Choice archives and carefully inspecting each banking award from the past financial year, it’s safe to say our Mozo experts will go to the nth degree to find the creme de’ la creme of banking.

So, without further ado… Ladies and gentlemen, boys and girls, straight from the Mozo Experts Choice Awards for Australia’s Best Banking 2019, meet Australia’s Best Customer Owned Bank… Bank Australia!

Before becoming the ‘Bank Australia’ we know today, this award-winning bank first burst onto the scene back in 1957 as the CSIRO Co-operative Credit Society, and since then has changed far more than just its name. After uniting 72 credit unions and co-operatives Bank Australia went on to become Australia’s first ever customer-owned bank.

According to Mozo expert Peter Marshall, “customer-owned banks have the benefit of not being beholden to shareholders, which means they can pour profits back into customers and their communities.”

“In Bank Australia’s case, this comes in the form of not only a tonne of community projects but also great value products across car loans, home loans, credit cards and more,” said Marshall.

To win this prestigious award, Bank Australia was shortlisted among other banks that won five or more Mozo Experts Choice Awards over the past 12 months and then further assessed and examined by our Mozo Expert judging panel.

Some of Bank Australia's winning products:

From home loans to savings accounts to credit cards, and everything in between, Bank Australia offers an extensive range of banking products. But what really sets Australia’s Best Customer Owned Bank apart from the rest is its shareholders are its customers, which means lower rates and fees!

Check out some of Bank Australia’s award-winning products:

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Take a look at the Mozo Experts Choice: Australia’s Best Awards 2019 full winner list