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Queensland Country Bank’s Member-First Model Triumphs in the Banking Industry

Queensland Country Bank’s Member-First Model Triumphs in the Banking Industry | BDmag June 2024

At a time when big banks are closing regional branches and cutting services, one institution is bucking the trend, adding more accolades to its collection, and demonstrating that the customer-focused approach is a clear winner.

Queensland Country Bank, a member-owned institution headquartered in Townsville, is distinguishing itself in an industry facing significant challenges, recently securing wins at the WeMoney 2024 Awards, including Customer Owned Bank of the Year, Best Flexibility – Home Loans, Best Rewards Credit Card, and Lender of the Year (Customer Owned Bank) – Car Loans.

These awards have bolstered their existing product and service recognition from Canstar, Mozo, and RateCity.

Chief Executive Officer of Queensland Country Bank Aaron Newman says the continuous awards from multiple independent bodies in recent years validate their thriving member-first model.

“Such accolades and recognition demonstrate the success of the member-first approach, which enables us to reinvest our profits back into our communities rather than paying shareholders,” says Aaron.

“This means our core focus is about helping our Members achieve their financial goals, which is more important than ever in today’s economic climate.”

As the cost-of-living continues to soar and people become more cautious about their banking choices, maintaining a local presence has never been more important, especially with the recent closure of Great Southern Bank’s Townsville branch.

Despite this industry trend of scaling back regional services, Aaron notes how Queensland Country Bank is instead adapting to meet its Members’ growing needs.

“We’ve observed an increase in internet banking services, and with our Call Centre located in Queensland, our Members can feel assured knowing they can chat with a local whenever they need support,” says Aaron.

“However, we also recognise the importance of providing face-to-face services for those instances when Members want to come into their local branch for that in-person contact and advice.

“At a time when many banks are scaling back their services, we’re committed to investing in regional and rural communities and ensuring our Members have access to the financial solutions and support they require, whether that be online or in-person.”

The bank’s people-first approach also extends to its employees, with Queensland Country Bank receiving the ‘Great Place to Work’ certification for the second year in a row.

Image taken from Queensland Country Bank’s ‘Great Place to Work’ campaign – click image to watch full video.

“The essence of being a member-owned bank is to put people ahead of profits and this extends to our employees who not only live and breathe such values but are also integral members of the communities in which we serve,” he adds.

“Queensland Country Bank supports over 100,000 Members, employs over 450 Queenslanders, and has given back over $2.8 million to local communities through our Good For Good Community Grants program since 2005.

“In such a dynamic and evolving climate, we’re committed to ensuring we continue to invest in the communities that support us.”

2024 WeMoney Awards

  • Winner – Customer Owned Bank of the Year
  • Winner – Best for Flexibility – Home Loans
  • Winner – Best Rewards Credit Card
  • Winner – Outstanding Customer Service – Credit Cards – Back to back (2 years)
  • Winner – Lender of the Year (Customer Owned Bank) – Car Loans
  • Winner – Best for Quality – Car Loans – Back to back (2 years)
  • Winner – Transaction Account of the Year (Customer Owned Bank)
  • Winner – Excellent Rates & Fees – Transaction Accounts
  • Winner – Outstanding Customer Service – Transaction Accounts – Back to back (2 years)
  • Finalist – Best for First Home Buyers – Home Loans
  • Finalist – Best Home Loan Package – Home Loans
  • Finalist – Outstanding Customer Service – Home Loans
  • Finalist – Best for Value – Credit Cards

Additional Awards

  • Rate City – Best New Car Loan
  • Rate City – Best Green Car Loan
  • Mozo – 2024 Experts Choice Awards – Pensioner Account
  • Mozo – 2024 Experts Choice Awards – Investor Home Loan
  • Canstar 2024 Outstanding Value – Investment Home Lender
  • Canstar 2024 Outstanding Value – Variable Investment Home Lender
  • Canstar 2023 Outstanding Value – Green Car Loan
  • Canstar 2023 Outstanding Value – Green Reno Loan

All images supplied by Queensland Country Bank.

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Compiled by the BDmag editorial team
Picture of BDMag


Compiled by the BDmag editorial team