Coverage and our commitment to comply
The Customer Owned Banking Code of Practice (formerly known as the Mutual Banking Code of Practice) applies to Queensland Country’s dealings with:
- our individual and small business members
- individuals and small businesses who give guarantees or indemnities securing loan facilities that we provide to our members
- prospective members, and
- any other members to whom we may voluntarily apply the Code.
The Code covers:
- deposit accounts, personal loans, home loans, credit and debit cards, cheques, online and phone banking facilities and other financial products and facilities that we issue
- products and facilities issued by another organisation and introduced, arranged or otherwise distributed by us, but only in relation to our selection and distribution of the product or facility
- our employees, and our agents and representatives when they are acting on our behalf.
The Code establishes higher standards than the law requires in a range of areas and outlines our 10 key promises to you, our owners. In adopting this Code, Queensland Country, together with our employees, agents and representatives acting on our behalf, is bound by the higher standards and additional requirements set out in the Code.
These 10 Key Promise are:
- We will be fair and ethical in our dealings with you
- We will focus on our customers
- We will give you clear information about our products and our services
- We will be responsible lenders
- We will deliver high customer service and standards
- We will deal fairly with any complaints
- We will recognise customers rights as owners
- We will comply with our legal and industry obligations
- We will recognise our impact on the wider community
- We will support and promote this Code of Practice
Role of Code Compliance Committee
The Code Compliance Committee (“CCC”) is an independent committee established by the Customer Owned Banking Association (COBA). The responsibilities of the CCC include monitoring and reporting on compliance with the Code, and determining Code breach issues that have been referred to it. The CCC publishes an Annual Report on Code Subscribers’ compliance with the Code and the CCC’s compliance activities.
The Compliance Manager is appointed by the CCC to undertake compliance functions on its behalf including: receiving compliance reports from Code Subscribers and investigating Code breach allegations.
Complaints about breaches of the Code
If you believe we have breached the Code, you can make a complaint to us. If we are unable to resolve the complaint to your satisfaction and the complaint involves a claim that you have suffered loss or detriment, you may then refer the matter to the Credit Ombudsman Service Limited (“COSL”) ABN 59 104 691 882 – www.cosl.com.au, the external dispute resolution scheme to which we belong. If the complaint does not involve a claim that you have suffered loss or detriment, you can report it to the Compliance Manager:
Code Compliance Committee
Ph: 1300 780 808
Publicising the Code
In conjunction with the Customer Owned Banking Association, we will publicise this Code and promote our adoption of it. Copies of the Code are available in our branches and here on our website. Read the Customer Owned Banking Code of Practice.