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Customer Owned Banking Code of Practice

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The Customer Owned Banking Code of Practice (COBCOP) is the code of practice for Australia’s credit unions and mutual building societies.

Commencing on 1st January 2014, customers of The Broken Hill Community Credit Union Ltd can have the confidence of knowing they are covered by market leading, plain English commitment to fair and responsible banking. The new Code is just another example of the value The Broken Hill Community Credit Union Ltd places on improving the financial wellbeing of its customers and community.

Customer Owned Banking delivers customer-focused, competitive retail financial services – outstanding service and fairer fees. The Broken Hill Community Credit Union Ltd exists to serve its customers, not simply to drive high profits for external shareholders.

The Customer Owned Banking Code of Practice is the public expression of our commitment to these fundamental principles – a legal and moral commitment to delivering on our promise to customers of our Credit Union.

Our 10 key promises to you, our customers

  1. We will be fair and ethical in our dealings with you
  2. We will focus on our customers
  3. We will give you clear information about our 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 customers 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 the COBCOP.