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Mutual Banking Code of Practice
Credit Union SA puts members first under the Mutual Banking Code of Practice
The new Mutual Banking Code of Practice was developed for Australian credit unions and building societies by industry body Abacus – Australian Mutuals. The Code clearly sets out the rights of members and the responsibilities of their lenders.
The new Mutual Banking Code of Practice draws on existing lending practices in the industry, and puts into print the expectations of both lenders and members where service, advice and price are concerned.
For easy reference, the new Mutual Banking Code of Practice has been broken down into 10 key promises that all accredited credit unions and mutual building societies must adhere to.
The 10 key promises are:
1. |
We will be fair and ethical in our dealings with you |
2. |
We will focus on our members |
3. |
We will give you clear information about products and services |
4. |
We will be responsible lenders |
5. |
We will deliver high customer service and standards |
6. |
We will deal fairly with any complaints |
7. |
We will recognise member rights as owners |
8. |
We will comply with our legal and industry obligations |
9. |
We will recognise our impact on the wider community |
10. |
We will support and promote this Mutual Banking Code of Practice |
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Mutual Banking Code of Practice |
To view published booklet - Click here.
(pdf format 1MB)
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