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Customer Owned Banking Code of Practice

Customer Owned Banking Code of Practice

Customer Owned Banking Code of Practice

Customer Owned Banking Code of Practice


The Customer Owned Banking Code of Practice (the ‘Code’) is the industry code of the association of credit unions and mutual building societies. Credit Unions and mutual building societies already comply with a range of regulatory requirements; this Code establishes higher standards than the law requires in a range of areas, and addresses issues not addressed by the law. In adopting this Code, WAW Credit Union agrees to abide by the higher standards and additional requirements set out in the Code.

The Code’s 10 key promises 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 services.
  • We will be responsible lenders.
  • We will deliver high customer service and standards.
  • We will deal fairly with any complaints.
  • We will recognise shareholder 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 the Customer Owned Banking Code of Practice.


For more information, please download the Cusomter Owned Banking Code of Practice or visit your nearest WAW Service Centre and request a copy.