Governance
We are held accountable to you, our customers.
Corporate Governance
Effective 1 July 2026, Summerland Bank merged with Regional Australia Bank Ltd (Regional Australia Bank). Summerland Bank is now part of Regional Australia Bank.
The Regional Australia Bank Board is responsible for the corporate governance of the Bank, including all activities conducted under the Summerland Bank trading name. The Board acts on behalf of, and is accountable to, members, applying the principles of accountability, transparency and independence in discharging its responsibilities. The Board also oversees the identification and management of material business risks, ensuring appropriate frameworks and controls are in place.
The Board meets regularly throughout the year, including scheduled meetings and strategic planning sessions.
Board Committees
To support the effective discharge of its responsibilities, the Board has established the following committees, each operating under a separate formal charter:
- Board Audit Committee
- Board Risk Committee
- Board Governance, People and Culture Committee
Good Corporate Conduct
The governance framework is underpinned by the Regional Australia Bank Constitution and the Customer Owned Banking Code of Practice, which together guide how the Board operates and how members are served.
Customer Owned Banking Code of Practice
Constitution
As a customer-owned organisation, the Bank recognises its responsibilities to members and stakeholders. These responsibilities are supported by a strong values framework that promotes responsible, ethical and sustainable operations.
Financial Claims Scheme (Deposit Guarantee)
The Financial Claims Scheme (FCS), administered by the Australian Prudential Regulation Authority (APRA), provides protection for deposits held with authorised deposit-taking institutions.
Under the FCS:
- Deposits up to $250,000 per account holder are protected
- The limit applies across all accounts held under the same ADI licence
- This includes deposits held with Regional Australia Bank Ltd (ABN 21 087 650 360), including any balances held under the Summerland Bank trading name or other brands of Regional Australia Bank
Eligible accounts include savings accounts and term deposits.
For joint accounts, the balance is apportioned equally between account holders when determining the protected amount.
Australia’s banking system is subject to a comprehensive prudential framework overseen by APRA to promote stability and protect depositors.
Financial Claims Scheme – FAQs
What is the Financial Claims Scheme?
The FCS is an Australian Government scheme that provides protection and timely access to deposits if an ADI fails. The scheme is activated by the Government and administered by APRA. In most cases, APRA aims to return protected deposits within seven calendar days.
How is the $250,000 limit applied?
The limit applies per account holder, per ADI licence. All deposits held with the same banking institution (including under different trading names) are aggregated for the purpose of the limit.
Where can I find more information?
Further information is available on APRA’s website.
Annual Reports
Summerland Bank produced an Annual Report that presented our performance and achievements for the past financial year. The Report also includes our community involvement and the value returned to customers.
2025 Annual Report
2025 Customer Report
2024 Annual Report
2024 Customer Report
2023 Customer Report
2023 Annual Report
2022 Annual Report
2021 Annual Report
2020 Annual Report
2019 Annual Report
Remuneration Disclosure
Remuneration Disclosure 2024-2025
Workplace Gender Equality Report
For information on corporate governance at Regional Australia Bank Ltd, please follow this link to their website: Regional Australia Bank Product and Corporate Information – Regional Australia Bank.
