Own Your Banking
Want better banking? Own your banking!
At Fire Service Credit Union, we are 100% member owned. Meaning, the profits we make are reinvested back to benefit you - our members!
The customer owned model, with its 4 million customers, is the proven alternative to the listed model in retail banking. Mutual banks, credit unions and building societies are delivering great service, highly competitive pricing and an unmatched customer focus.
Members are our owners and number one focus and unlike our listed competitors we don’t have the tension of trying to maximise returns to a separate group of shareholders.
Customer owned banking in Australia has $111 billion in assets, 4 million customers and is the market leading in customer satisfaction! We're regulated in the same way as the major banks and your deposits are covered by the Government Guarantee.
Almost half of all Australians have less trust in the big banks because of the Royal Commission into banking. At the same time, trust in customer owned banking institutions is on the rise. New research has found the Banking Royal Commission has made Australians more receptive to banking alternatives and switching their banking. An Essential Media poll, commissioned by the Customer Owned Banking Association, found 1 in 3 people are more likely to consider switching their banking institution.
The poll also found that
· 47% have less trust in big 4 banks
· 18% have more trust in Credit Unions
· 17% have more trust in Mutual Banks
· 15% have more trust in Building Societies