April 2018Read article
There is an alternative to The Big 4.
There has been a ‘buzz’ in the news around the major bank levy being introduced by the government. This has been put in place to hopefully make the financial services sector fairer for Australians and to promote the more ‘accountable’ alternatives in the industry.
The Customer Owned Banking Association (COBA) has launched a nationwide campaign in relation to this topic. They are encouraging Australians to check out the banking alternatives available to them (including Australia’s mutual banks, credit unions and building societies).
“Customer owned banking has $104 billion in assets and invests healthy profits back into the community and into investment in better products and services,” COBA CEO Mark Degotardi said.
Victoria Teachers Mutual Bank is an alternative to The Big 4. We are a mutual, which means our customers own the organisation and their interests come first. We pride ourselves on our high customer satisfaction, full product suite and ethical banking practices.
Rather than profits being distributed to shareholders, our profits are reinvested into our organisation. This allows us to add further strength and security, to provide value for money on all our products and services and invest back into the education community through staff support and grants.