Customer owned banking dominates credit card awards

24 September 2015

Nine of the top ten low-rate credit cards are offered by customer-owned banking institutions, according to the Mozo Experts Choice Awards 2015.

Mozo compared 171 credit cards in its database to find the cheapest credit card for cardholders with an ongoing revolving balance and three of the top 10 winners are BCCM members. Community First Credit Union, Teachers Mutual Bank and Bank Australia all featured in the top 10.

Recently, the BCCM made its submission to the Senate Economics References Committee inquiry into matters relating to credit card interest rates highlighting the importance of the customer and member-owned banking model that promotes a responsible approach to banking and customer choice.