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.

What are the benefits of membership?

Every one of our members is both a customer and a shareholder, so we aren't concerned about share prices and dividends. We exist for the financial well-being of our members and the sustainability of our communities.

Our profits are reinvested back into delivering value for you, including:

• competitive rates
• fairer fees
• outstanding customer service
• and a commitment to invest at least 5% of our profits back into the grassroots of our communities

Being 100% customer-owned means we're 100% focused on you.

How do I become a member?

When you apply for your first loan or account with us we'll open your membership as part of the application. Members under 18 years of age are junior members and pay $2 for their share. A senior member share costs $10. Your share isn't a fee, it's fully refunded if you decide to close your membership with us.

You can request to close your membership at any time. Just let us know and your membership and accounts will be closed and the cost of your share will be refunded to you.

¹ Source: Roy Morgan Research "Satisfaction with big four banks declines in October"