Category: Articles

Consumers have a stake in the future of banking

The unfair advantages enjoyed by the big four banks must be a key target for the Financial System Inquiry (FSI) formally announced last night by the Federal Government. The Customer Owned Banking Association today outlined its main priorities for the FSI, following the appointment of former CBA boss David Murray as head of the inquiry […]

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27 billion reasons to end taxpayer subsidy

The big four banks’ $27 billion profit result shows what a great job they are doing for shareholders so why do they need a massive, hidden taxpayer subsidy? The Customer Owned Banking Association (COBA) says it’s time to tackle elements of the regulatory framework that give the major banks an unfair advantage on their smaller […]

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New COBA Directors Elected

COBA today announced three new Directors following its Annual General Meeting today. Sonia Casanova (Country First Credit Union) was re-elected to the Board. New to the COBA Board are Rowan Dowland (bankmecu), Terry McGuirk (People’s Choice Credit Union), and Greg Willcock (Big Sky Building Society). Don Magin was re-elected for a further year as Chair […]

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Local activity part of International Credit Union Day

The Customer Owned Banking Association today celebrated International Credit Union Day and pointed to local activity that is raising important awareness and funds for developing communities. This year’s theme, “Credit Unions Unite for Good: A Better Way,” emphasises the benefits of cooperation among credit unions worldwide. As part of the day, credit unions in Australia […]

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Simple MoneySmart steps can make real difference

The Customer Owned Banking Association today encouraged Australians to get involved in MoneySmart week by using online tools and mobile apps to take control of their finances. COBA is a supporter of MoneySmart week and the easy to use tools available to improve financial circumstances. “MoneySmart Week puts some fun into reviewing household finances,” COBA […]

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Target banking levy at real problem, not depositors

The Customer Owned Banking Association says the Government’s Financial Stability Fund (FSF) levy should target the four major banks rather than depositors. Commenting after the release of the economic statement from the Treasurer, COBA spokesman Mark Degotardi said: “We note the Treasurer’s comments about the need to consult with our sector to ensure these changes […]

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COBA raises questions about competitive effect of proposed new levy

The Customer Owned Banking Association today raised concerns about a proposed levy on banking institutions but welcomed consultation with the Federal Treasurer Chris Bowen on the issue. COBA Chief Executive Louise Petschler said the industry has questions about how such a pre-funded scheme would work and any potential adverse impact it will have on customer […]

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Push for banking inquiry heads to Queensland

*** Campaign to tour Cairns, Townsville, Toowoomba and Brisbane The Customer Owned Banking Association will mount a pre-election push for a an independent banking inquiry, by visiting Prime Minister Kevin Rudd’s home state of Queensland starting next week. The Balance Banking campaign bus will be on location in the major Queensland centres of Cairns, Townsville, […]

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Media coverage

Recent media coverage of the Balance Banking campaign includes: Big four banks under ASIC scrutiny for advertising claims Daily Telegraph, 16 June 2013 Australia’s top financial watchdog is “actively monitoring” the advertising of the big four banks amid concern their branding is potentially misleading consumers. A recent survey revealed Australians are often unaware that big […]

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Balance Banking campaign tours Canberra and Victoria

Following the successful tour of New South Wales tour in April and May, the Balance Banking campaign brought the issue of banking competition direct to Canberra on 6 June. The tour then visited Albury-Wodonga, Shepparton, Bendigo and Ballarat before finishing up in Bourke Street Mall in Melbourne on 14 June. The Balance Banking campaign has […]

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