Customer Owned Banking Association (COBA) represents customer-owned banks, credit unions, and mutual banks in Australia. The organisation’s primary focus is to advocate for the interests of its members and promote a fair, competitive, and customer-centric banking sector. COBA aims to enhance awareness of the benefits of customer-owned banking and support its members in delivering sustainable finance solutions.
The key goals of COBA include influencing public policy, enhancing the member experience, and fostering a collaborative environment among customer-owned financial institutions. COBA works to ensure that the unique characteristics and contributions of its members are recognised in the broader financial landscape. The organisation also prioritises promoting ethical practices and sustainable finance initiatives within the sector.
COBA operates with a structured governance framework, comprising a board of directors elected from member institutions. This structure ensures that the voices of customer-owned banks and credit unions are represented in decision-making processes. COBA also engages with stakeholders, including government bodies and regulatory agencies, to advocate for policies that support the customer-owned banking model.
In terms of resources, COBA provides a range of practical tools and support for its members. The organisation conducts research on industry trends, regulatory changes, and customer preferences, which is invaluable for members seeking to adapt to an evolving financial landscape. Additionally, COBA offers professional development programs and networking opportunities to foster collaboration among member institutions.
By promoting sustainable finance practices, COBA helps its members align their operations with environmental and social goals. This focus on sustainability not only enhances the reputation of customer-owned banks but also contributes to a more responsible and equitable banking system in Australia.
COBA champions the customer owned banking model and advocates for a more competitive retail banking sector that benefits all Australians.
