The Mutual Banking Code of Practice is the industry code of Abacus - Australian Mutuals, the association of mutual building societies and credit unions. Credit unions and mutual building societies already comply with a range of regulatory requirements including:
The Code establishes higher standards than the law requires in a range of areas, and addresses issues not addressed by the law. In adopting this Code, your Credit Union agrees to abide by the higher standards and additional requirements set out in the Code.
For easy reference, the new Mutual Banking Code of Practice has been broken down into 10 key promises that all accredited credit unions and mutual building societies must adhere to. The 10 key promises are:
The Code Compliance Committee is the monitoring body for the Mutual Banking Code of Practice.
If you believe we have breached the MBCOP you can contact the CCC as follows
Telephone 1300 780 808
Postal Executive Manager
Code Compliance Committee
PO Box 14240
Melbourne VIC 8001
If you would like a copy of the Mutual Banking Code of Practice please contact us.
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