Home Contact Us Help Security Site Map Disclaimer Privacy

AWA Credit Union puts members first again under new Mutual Banking Code of Practice

AWA Credit Union members will be among the first Australians to be protected under a new Code of Practice for credit unions and building societies that reflects how they deal with their customers and members.

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.

"AWA Credit Union has already signed up to the new Mutual Banking Code of Practice. There are many compelling reasons for Alcoa employees, Contractors and their families to bank with us - and the Code sets them out in plain English," says Graeme Scannell - Manager.

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.

"Credit unions and mutual building societies in Australia offer a genuine and competitive alternative to the banks," says Abacus CEO, Louise Petschler.

"Credit unions and mutual building societies continue to take the lead where responsible lending is concerned - and the new Mutual Banking Code of Practice puts into writing the guidelines for real service and value for AWA members," says Graeme Scannell - Manager.

What's new?

Borrowing and banking requirements may be changing, but our commitment to you has only gotten stronger.

The peak body for Australian credit unions and building societies, Abacus has introduced a new Mutual Banking Code of Practice.

The Code outlines our 10 key promises to you and will ensure that all credit unions and mutual building societies will be fair and ethical when dealing with you.

How does it affect me as a member?

The new Code of Practice helps you to easily understand our products and services. It will:

• Outline how you can expect your credit union or mutual building society to behave towards you as a member
• Ensure that all written materials are in plain English and that there are clear distinctions made between terms and conditions and promotional offers
• Ensure that all payment fees and exception fees are fair to you
• Ensure that you always have access to the right advice

View the 10 key promises of the Mutual Banking Code of Practice

 

Questions?

If you have any questions, please contact us