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Hume Bank welcomes rise in trust for customer owned banking because of Royal Commission

Hume Bank
31/08/2018

Recent research supports a continued movement towards credible, strong and viable alternatives to the major banks, such as customer owned banking institutions.

An Essential Media poll has found almost half of all Australians have less trust in the big banks because of the Royal Commission into banking.

At the same time, trust in customer owned banking institutions is on the rise.

The poll found that because of the Royal Commission into banking:
 

  • 47% have less trust in big 4 banks
  • 18% have more trust in Credit Unions  
  • 17% have more trust in Mutual Banks
  • 15% have more trust in Building Societies
     

Hume Bank Chief Customer Officer, Andrew de Graaff, said the findings aren’t a surprise. 

“We are not surprised to see trust in customer owned institutions like Hume Bank on the rise in response to the stories coming out of the Royal Commission,” Mr de Graaff said.

“We are seeing in our local community that people want a banking institution they can trust to put them first. Our customers are telling us just how important it is to know where their money is going that’s the exact clarity Hume Bank gives them.

Because of our customer owned model, we are solely customer focused because 100% of profits are used to benefit customers.”

“We support the Own Your Banking initiative launched by COBA earlier in May, and hope to see a continued switch towards Hume Bank as a trusted alternative.”

For more on the poll results visit ownyourbanking.com.au and join the conversation on social media, use the hashtag 

#OwnYourBanking #HumeBank