What is a customer-owned bank?
Most banks exist purely to generate profits that increase share prices and dividends for their investors. Unfortunately, that usually comes at the cost of their customers.
Unlike the big banks, our customer-owned structure means our customers are our shareholders. When you join us and open an account you also buy a share in Regional Australia Bank and become a member. Its called mutual banking.
It works too: Roy Morgan Research has found that customer satisfaction in the mutual banking sector was 91.0% (as of October 2016), well above the big four’s average of 79.5%.1
Each of our members is entitled to a vote at our Annual General Meeting and is eligible to nominate for the Board of Directors.