Customer Owned Banking Association replaces Abacus Australian Mutuals as the industry advocate for Australia’s customer owned banking sector effective 1 July 2013. You can find useful information on mutual financial services, the Mutual Banking Code of Practice, consumer issues, and contact details for your mutual bank, credit union or mutual building society on their website. www.customerownedbanking.asn.au.
There are two EDR schemes for the Mutual industry, which are approved by the Australian Securities and Investments Commission (ASIC). EDR provides an accessible and independent dispute resolution service as an alternative to legal proceedings for resolving disputes with a participating Mutual. The service is free to consumers. The Mutual must provide you with information about their EDR scheme, but you can also contact the EDR scheme directly to find out if your Mutual is a subscriber:
The Financial Counselling Australia is the peak body for financial counsellors in Australia. The website contains links to similar bodies in each state and territory, which can help you to find an accredited financial counsellor in your area. http://www.financialcounsellingaustralia.org.au .
Two good starting points are FCA’s consumer website www.debtselfhelp.org.au and the 1800 007 007 financial counselling helpline.
Information and contact details for financial counselling can also be found on the following websites: