Customer owned banks shine brightly in 2020 Mozo Experts Choice Home Loan Awards

Australia’s customer owned banks have been revealed to be among the biggest winners in the recently announced 2020 Mozo Experts Choice Home Loan Awards which aim to shine a spotlight on some of the best home loans in the country. 

Customer owned institutions punched above their weight taking home an impressive 20% of the awards on offer and performing particularly well in the First Home Buyer Loan, Packaged Home Loan and Fixed Home Loan award categories. 

Among the 2020 Mozo Experts Choice Award winners were Customer Owned Banking Association members Bank Australia, Credit Union SA, G&C Mutual Bank, Greater Bank, Illawarra Credit Union, P&N Bank, Qudos Bank and RACQ Bank. 

“In order to determine this year's winners we analysed 436 home loan products from 86 different Australian lenders, recognising the best home loans in 13 seperate awards categories,” said Expert Judge, Peter Marshall. 

“The sheer size of that field demonstrates how difficult it is to be named an award winner, which just goes to show the great value being offered by some of Australia’s customer owned institutions when it comes to home loans.” 

RELATED: Bank Australia wins best Green Home Loan in the 2020 Mozo Experts Choice Awards

So which customer owned institutions were among the standout winners in this year's awards? Here are some of the lenders that really impressed our expert judges. 

Qudos Bank

Sydney-based Qudos Bank, formally Qantas Credit Union, were among the most celebrated winners in the 2020 Mozo Experts Choice Home Loan Awards, taking out wins in an impressive four different categories. 

The Qudos Bank Fixed Rate Home Loan was named a winner in the Investor Fixed Home Loan and Fixed Home Loan categories, while the Low Cost Home Loan Value Package took out an award for best Packaged Home Loan. 

Meanwhile, the Qudos Bank No Frills Home Loan and Fixed Rate Home Loan were jointly awarded a prize in the Best Split Home Loan category.

Qudos Bank are no strangers to the Mozo Experts Choice Awards, having previously picked up major award titles including Australia's Best Small Bank (2018) and Home Loan Bank of the Year (2017).

G&C Mutual Bank 

Having already picked up a number of Mozo Experts Choice Awards in the past year - for their Low Rate Credit Card, Unsecured Personal Loan and Used Car Loan - G&C Mutual Bank continued their winning streak with three separate 2020 Mozo Experts Choice Home Loan Awards. 

The G&C Mutual Bank First Home Loan Premium Package certainly impressed the Mozo judges, as it took home awards for Best Offset Home Loan as well as Best First Home Buyer Loan. 

It was also named a winner in the Split Home Loan Award category in conjunction with the G&C Mutual Bank 1 Year Fixed Rate Home Loan.

Credit Union SA

As a perennial award winner which has previously been recognised for everything from its great value car loan (2019) to its excellent banking app (2019), Credit Union SA has added further silverware to its trophy cabinet with a victory in the 2020 Mozo Experts Choice Home Loans Awards. 

That came in the form of a 2020 Best Packaged Home Loan Award which was awarded to Credit Union SA for its Variable Rate Home Loan Special Offer Package - one of just a handful of winners in the category.

RELATED: 2020 Mozo Experts Choice Home Loan Award winners announced

Ready to see how these customer owned award winners stack up against some of the other best home loans in Australia? Then head over to our 2020 Mozo Experts Choice Award page for a full list of winners, categories and a copy of the methodology report.

Compare home loans - last updated 27 May 2022

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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

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