Australian Mutual Bank has ethical conduct at the heart of our business. We operate responsibly and ethically and have done so continuously since we were formed in 1953. In fact, it was the reason we were formed.
Being a mutual bank – run on behalf of our members, who are customers and equal owners – gives us an in-built ethical advantage. Our purpose is to benefit the people who bank with us, not to extract profit from them and distribute it to outside shareholders.
The mutual bank structure removes many of the commercial temptations and financial incentives that drove for-profit banks in Australia to cause harm to their customers. We provide banking services for human and social needs as opposed to corporate speculative gain.
We are an alternative to banking with organisations whose conduct is not always ethical and who rarely, if ever, put their customers’ best interests ahead of their own and that of their shareholders.
In line with our ethical approach, we do not invest our members’ funds in industries that may cause harm to the environment or to wildlife, contribute to climate change or hamper efforts to reduce carbon emissions. This extends beyond environmental issues, to areas such as gambling, weapons, and animal testing.
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