As we celebrate 65 remarkable years of serving our members, we reflect on the journey that has defined us as Qudos Bank. Our story began with a simple, yet strong commitment to put our customers first, we delivered on this back then and will continue delivering on it today.
We’ve grown alongside our members and community, from our humble beginnings as Qantas Staff Co-operative Credit Union to the Qudos Bank you know and love. As we look to shape the future of customer-owned banking, we’re working towards a merger with Bank Australia. They’re the ideal partner, being another customer-owned bank with a strong heritage of over 67 years.
This merger is an exciting next step to continue building a better bank for our members. We’ll always have the heritage and ethos of Qudos Bank, just with an increased ability to invest in even better products, better service and better experiences well into the future- we are your bank, and always will be.
A merger occurs when two entities come together to form a single entity (e.g. Qudos Bank and Bank Australia). This is usually done to create a stronger entity that can offer better products, services and experiences for their customers.
This allows companies to invest more to improve the benefits they provide customers in an increasingly competitive landscape. In banking, mergers are overseen and require regulatory approval by APRA who undertake appropriate consultations with ASIC, ATO and Treasury which ensures mergers don’t lead to anti-competitive banking behaviour and negatively impact consumers.
In preparation to merge organisations will follow a handful of key steps;
The merger will bring together the strengths of two customer-owned banks, giving our members access to even more services. As a combined entity, with over 900 employees across NSW, VIC, QLD and the ACT, our commitment to customer-first experiences will be even stronger.
There will be representation from both Qudos Bank and Bank Australia on the executive leadership team and Board post merger, we’ll be focused on uplifting our customer experience by offering members a wider range of products and access to more branches, enhancing our digital banking experience and investing more to continue to protect our members with the latest advancements in cyber security and fraud prevention technologies.
You can bank on us continuing that same great customer owned banking community feeling that you’ve come to love. Whether that’s calling our Contact Centre, sending us a message through Internet Banking or popping into a branch our people will continue to be here to help.
Thank you for being part of the Qudos Bank community and part of our journey over the past 65 years, we’re excited for what’s to come.
Qudos Bank is one of Australia’s largest customer owned banks with over $5b in assets. Being 100% customer owned means our customers and owners are one and the same. Everything we do, the decisions we make, and the way we operate is designed with the customer at the heart of it all. We exist for the benefit of our customers and the community, not for making profit for the benefit of shareholders. We are a proud member of the Customer Owned Banking Association and have made a commitment to follow the Customer Owned Banking Code of Practice. We believe in doing the right thing for customers and our community, helping them realise their potential, and in the power of people coming together to pursue their financial freedom. Our goal is to be the bank our customers value most.
Bank Australia exists to inspire and empower customers to use their money to create a world where people and the planet thrive. We are 100% customer owned, a certified B Corp and we aim to be Australia’s most trusted bank. Our commitment to clean money means we focus our lending and investments in areas that do good, not harm, for people and the planet. We support over 190,000 customers and we’re the custodians of more than $11 billion in assets.
Get the latest on the proposed merger with Bank Australia, and updates on next steps for the merger vote in 2025.
We acknowledge the Traditional Owners of the lands on which we operate and pay our respects to Elders past and present, and to emerging community leaders. We also acknowledge the important role Aboriginal and Torres Strait Islander peoples continue to play within the communities in which Qudos Bank operates and where our team members reside.
