What’s Happening?
On 26 May 2025, Roy Morgan released its Bank Trust and Distrust Scores Report, revealing that customer-owned banks – including Queensland Country Bank in Townsville – are Australia’s most trusted banking sector for the second year running.
Why It Matters
The report comes at a time when Australians are losing faith in major banks. By contrast, customer-owned banks have improved their Net Trust Score, reflecting a model that values people over profit.
COBA CEO Michael Lawrence explained:
“We’re owned by our customers, which means our purpose is to create long-term value for them and their communities. Unlike listed banks, financial performance is not our purpose – it enables our purpose.”
Local Impact
Queensland Country Bank, headquartered in Townsville, reflects these values in action. With a strong community presence, it continues to earn local trust by providing fair services and supporting regional Queensland.
Lawrence added:
“Trust is something that is earned, and customer-owned banks’ people-first approach translates to competitive rates, innovative products, superior services, and a strong commitment to local communities.”
By the Numbers:
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🔹 3.2 million Australians (14.2%) express distrust toward the banking sector.
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🔹 Customer-owned banks ranked 7th out of 27 industries for trust.
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🔹 Traditional banks placed 24th, with a Net Distrust Score of -3.97.
Zoom In
Australians say they trust banks that are “honest”, “reliable”, and offer “good service.” Major banks, on the other hand, are viewed as “greedy” and “profit-driven.”
Zoom Out
More than 5.4 million Australians bank with mutuals, credit unions, or building societies. These institutions have been operating on a profit-for-purpose basis for nearly 180 years.
What to Look For Next?
To explore customer-owned banks like Queensland Country Bank, visit findabank.com.au.
