As a 100% customer-owned organisation, Qudos Bank is shaped by people like you, our members. As a member of a customer-owned bank you're more than just a number - you’re a shareholder.
As a shareholder you have the right to vote on key matters that determine the future of the bank. This gives you the power to have your say on key decisions such as board elections or major changes like our proposed merger with Bank Australia.
All members over the age of 18 have a right to vote, each member receives one (1) vote which plays an important role in shaping our bank's future.
Although you don’t have to vote, voting ensures the bank's direction and priorities align more closely to the needs and values of our members. This helps us continue to put our members first.
As with any voting, it’s essential we have as many members as possible participate in the vote so we can accurately reflect the views of the entire Qudos Bank community.
Voting is easy! A Special General Meeting (SGM) will be held and Members can vote before, or during the SGM.
To vote before the SGM, you need to ensure you submit your vote early to meet specific vote deadlines. Detailed voting instructions are sent to all members when voting opens and usually include;
To vote during the SGM, you’ll need to attend in-person or online. In-person attendees can vote via a form supplied to all attendees, and online attendees can vote via live polls for each notice or item.
Members of both banks will be asked to vote on the merger proposal. While it is too early to identify a specific date when members may be asked to vote, once regulatory approval is confirmed it is anticipated that a vote will be held in early to mid 2025. We will keep employees and members informed of progress. Members will be provided with a detailed information pack ahead of being asked to vote.
Members will receive notification of the next AGM or SGM through email, post or on the Qudos Bank website.
Each member receives one (1) vote.
For joint memberships, only one Member vote will count. If more than one member votes in respect of the membership, the name which appears first in the Register of Members counts.
Yes, members can appoint a proxy to attend the AGM or SGM and vote on your behalf. A proxy may be an individual or a body corporate, and need not be a member of Qudos Bank. For more information on proxy voting keep an eye on specific voter information for each AGM or SGM.
At our AGMs and SGMs, you can expect several key notices and decisions to take place. There will usually be an address from the Chairperson or CEO who will run through key points from the Annual Report (at an AGM) and discussions on proposed Board resolutions.
It’s important for us to continually listen to the voices of our members, as such there is a dedicated Q&A session so members have the opportunity to engage directly with the Board and executive leadership.
Yes, we allow our members as long a voting window as possible so you can vote when and how it’s convenient for you. Online voting opens when we issue the notice of meeting and closes 48 hours before the meeting, or you can vote at the meeting itself. More information on the key timings and how to vote are provided in the information sent to members.
While we strongly encourage all members to vote, for those who chose not to there is no penalty, however the outcome of any resolutions put to members will be determined only by those members who did vote. Your rights to vote as a member of Qudos Bank will be retained for the next AGM or SGM.
Although voting is not mandatory, we really encourage members to have their say in shaping the future of our bank. It’s part of the Qudos Bank constitution to allow members a chance to share their voice and part of our customer-owned philosophy to continue to put members first. You can find out more about your rights to vote here.
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.
