Not all banks are built the same way.
Some are owned by investors, while others, such as Summerland Bank and Regional Australia Bank, are owned by you, the customer. And that difference shapes everything from how profits are used to how decisions are made.
What makes customer-owned banking different?
Investor-owned banks exist to create profits for shareholders. Their focus is: “What will make money for our investors?”
Customer-owned banks exist to benefit their members and the communities they serve. Their question is: “What’s best for our customers?”
Both types of banks are regulated by the same authorities, offer similar products, and your deposits are protected up to $250,000 by the government guarantee. But customer-owned banks reinvest profits into better rates, fairer fees, and local impact, not external shareholders.
A people-first approach for over 150 years
Customer-owned banking has been part of Australia’s story for more than a century. Born from credit unions and building societies, it’s always been about people helping people.
Today, more than five million Australians choose to bank this way because it delivers:
- Better value through competitive rates and fair fees
- Stronger communities through local partnerships and sponsorships
- Higher satisfaction, year after year, in national surveys
Purpose-driven and community-minded
At Summerland Bank, our customer-owned model reflects our values, purpose, people, and sustainability. As a certified B Corp, we’re proud to balance profit with positive community and environmental outcomes.
Our merger proposal with Regional Australia Bank is built on shared values and a common goal, to create a stronger, more sustainable banking future where customers remain at the heart of every decision.
Did you know?
- Customer-owned banks don’t pay dividends to shareholders, profits go straight back to you.
- Many were founded by locals pooling resources to support each other.
- They consistently rank highest for trust and satisfaction compared to the major banks.
The bottom line
When you choose a customer-owned bank, you’re choosing to keep your money working for you, and for your community.
Because here, you’re not just a customer.
You’re an owner.
Visit the Customer Owned Banking Association website to learn more.
