Customer Owned Banking Code of Practice
Over 4 million Australians are members of Customer owned banking institutions. LCU meets the same regulatory standards as the larger banks and is a prudent and strong financial service provider. The difference between a mutual bank and a larger, publicly listed Bank is a guarantee to serve LCU Members first. LCU has worked closely with the Customer Owned Banking Association (the governing body of Australian Mutual Banks, Credit Unions and building societies) to develop the Customer Owned Banking Code of Practice. What is the Customer Owned Banking Code of Practice? The Code is an important public statement of the value LCU places on improving the financial well-being of its members and the education of the community. It reinforces the commitment of LCU to:
How does it affect our members?The Customer Owned Banking Code of Practice is how LCU delivers on a guarantee to serve its members first. LCU upholds 10 key promises to outline how this is achieved: LCU's 10 key promises to it's members:
|