Names and list of banks in Australia

Last Updated on July 1, 2024 by admin

Australia has a well-developed banking and financial sector with a wide range of banks and credit unions offering various services to individuals and businesses.

Some of the major banks in Australia include the Commonwealth Bank of Australia, Westpac Banking Corporation, National Australia Bank, and Australia and New Zealand Banking Group.

These banks are some of the largest and most well-established financial institutions in the country, offering a wide range of services including personal and business banking, wealth management, and insurance.

They are regulated by four bodies comprise the Council of Financial Regulators (CFR). They are Australian Prudential Regulation Authority (APRA); The Australian Securities and Investments Commission (ASIC): the Reserve Bank of Australia (RBA); and the Australian Treasury.

The Australia Council of Financial Regulators aims is to facilitate cooperation and collaboration between member agencies, with the ultimate objectives of promoting stability of the Australian financial system and supporting effective and efficient,

The oceanic country banks is insured by Financial Claims Scheme (FCS) which help to provides protection to depositors with Australian incorporated banks,building societies and credit unions

The Australia Financial Claims Scheme serves as a safety net for deposits of up to $250,000 Australia dollar per account holder . It also covers most general insurance policies for claims up to $5,000, with claims above $5,000 eligible if they fulfill certain criteria.

Base on our content purpose, we are going to list all Australia banks by state, Local owned banks,credit unions, building societies and Foreign subsidiary banks

Table of Contents

Foreign-owned subsidiaries Bank in Australia

There are numerous foreign-owned subsidiary banks operating in Australia. Here’s a breakdown of some of the major ones, along with their parent companies:

Major Foreign-Owned Subsidiary Banks in Australia:

HSBC Bank Australia: Subsidiary of the British-based HSBC Group.
Rabobank Australia: Subsidiary of the Dutch Rabobank Group.
Citibank Australia: Subsidiary of the American Citigroup.
ING Bank (Australia): Subsidiary of the Dutch ING Group.
Bank of China (Australia): Subsidiary of the Bank of China, a state-owned Chinese bank.
BNP Paribas (Australia): Subsidiary of the French BNP Paribas.

Others include:

Sumitomo Mitsui Banking Corporation (SMBC, Japan)
Mizuho Bank (Japan)
Bank of India (India)
State Bank of India (India)
United Overseas Bank (UOB, Singapore)
Bank of Communications (China)
Deutsche Bank (Germany)

Why Foreign-Owned Subsidiaries are Common in Australia:

Globalization of Banking: The banking industry is globalized, and multinational banks expand for various reasons, including accessing new markets and diversifying their operations.
Australian Market Appeal: Australia’s stable economy and well-regulated banking system attract foreign banks.
Competitive Landscape: Foreign-owned banks enhance competition and provide additional choices for consumers and businesses in Australia.

Regulation:

Foreign-owned subsidiaries must adhere to Australian laws and regulations within the banking sector. They are overseen by the Australian Prudential Regulation Authority (APRA), just like domestic banks.

What are credit unions?

Member-owned: Credit unions are not-for-profit financial institutions owned and operated by their members. This means they focus on serving their members’ needs, not maximizing profits for external shareholders.
Community focus: Credit unions often have a strong connection to a particular community, profession, or shared interest.
Range of services: Similar to banks, credit unions offer savings accounts, loans, mortgages, insurance, and other financial products.

Benefits of credit unions:

Competitive rates and fees: Due to their member-centric model, credit unions often offer lower fees and more favorable interest rates on loans and savings accounts compared to traditional banks.
Personalized service: Credit unions prioritize personalized service and building relationships with their members.
Ethical Banking: Many members choose credit unions for their commitment to ethical banking practices and serving their communities.

Difference between credit unions and banks:

Ownership: Banks are owned by shareholders who expect profit returns. Credit unions are owned by their members, with profits reinvested to improve services.
Focus: Banks prioritize maximizing shareholder returns, while credit unions prioritize member service and community benefits.
Accessibility: Banks have vast branch networks and a wider national presence. Credit unions might have more limited branches, focusing on specific regions or communities.

Major Credit Unions in Australia:

CUA (Credit Union Australia)
Police Bank
Teachers Mutual Bank
Bank Australia
People’s Choice Credit Union
Defence Bank
And many more!

1. Woolworths Employees’ Credit Union Limited
2. WAW Credit Union Co-Operative Limited
3. Warwick Credit Union Ltd
4.Transport Mutual Credit Union Limited
5. Traditional Credit Union Limited
6. The Gympie Credit Union Ltd
7. The Capricornian Ltd
8. Australian Central Credit Union Ltd (trading as People’s Choice Credit Union)
9. Bananacoast Community Credit Union Ltd
10. CAPE Credit Union Limited

11. Central Coast Credit Union Ltd
12.Central Murray Credit Union Limited
13. Central West Credit Union Limited
14. Coastline Credit Union Limited
15. Community Alliance Credit Union Limited
16. Community First Credit Union Limited
17. Credit Union Australia Ltd (trading as Great Southern Bank)
18. Credit Union SA Ltd
19. Sydney Credit Union Ltd
20. Summerland Financial Services Limited (trading as Summerland Credit Union)

21. South-West Credit Union Co-Operative Limited
22. Southern Cross Credit Union Ltd
23.South West Slopes Credit Union Ltd
24. Select Encompass Credit Union Ltd
25. Railways Credit Union Limited (trading as MOVE)
26. Queenslanders Credit Union Limited
27. Queensland Country Credit Union Limited
28.Pulse Credit Union Limited
29. Police Credit Union Limited
30. Orange Credit Union Limited

31. Dnister Ukrainian Credit Co-operative Limited
32. EECU Limited (trading as Nexus Mutual)
33. Family First Credit Union Limited
34. Fire Service Credit Union Limited
35. Firefighters & Affiliates Credit Co-operative Limited
36. First Choice Credit Union Ltd
37. First Option Credit Union Limited
38. Ford Co-operative Credit Society Limited
39. Gateway Bank
40. Goulburn Murray Credit Union Co-operative Limited

41. Heritage Isle Credit Union Limited
42. Holiday Coast Credit Union Ltd
43. Horizon Credit Union Ltd
44. Hunter United Employees’ Credit Union Limited
45. Laboratories Credit Union Limited
46. Lithuanian Co-operative Credit Society “Talka” Limited
47. Lysaght Credit Union Ltd
48. MacArthur Credit Union Ltd
49. Macquarie Credit Union Limited
50. MCU Ltd

51. My Credit Union Limited
52.Northern Inland Credit Union Limited
53.Nova Credit Union Limited
54. Orange Credit Union Limited

Building societies in Australia

1. Big Sky Building Society Limited
2. Maitland Mutual Building Society Limited (The Mutual)
3. Newcastle Permanent Building Society Limited

Australian-owned banks

1. AMP Bank Limited
2. Australia and New Zealand Banking Group Limited (ANZ)
3. Australian Military Bank (formerly Australian Defence Credit Union)
4. Auswide Bank (formerly Wide Bay Building Society)
5. AWA Alliance Bank
6. B&E Limited (trading as Bank of us)
7. Bank Australia (formerly bankmecu)
8. Bank of Melbourne
9. Bank of Queensland Limited
10. BankSA

11. Bank of Western Australia Limited (trading as Bankwest)
12. BankVic
13. BDCU Alliance Bank
14. Bendigo and Adelaide Bank Limited
15. Border Bank
16. BOQ Specialist
17. CIRCLE Alliance Bank
18. Commonwealth Bank of Australia
19. Community CPS Australia Limited (trading as Beyond Bank Australia)
20.Community Mutual Limited (trading as Regional Australia Bank)

21.Community Sector Banking
22. Defence Bank
23. Delphi Bank (formerly Bank of Cyprus Australia Limited)
24. Esanda
25. Firefighters Mutual Bank
26. G&C Mutual Bank
27. Greater Bank
28. Heritage Bank
29. Hume Bank
30. IMB Bank

31. Judo Bank
32.Macquarie Bank Limited
33. Members Equity Bank Limited (trading as ME Bank)
34. MyState Bank
35. National Australia Bank Limited (NAB)
36. Police & Nurses Ltd (trading as P&N Bank)
37. Police Bank
38. QPCU limited (trading as QBANK)
39. Qudos Mutual Limited (trading as Qudos Bank)
40. RACQ Bank

41. Reliance Bank
42. RSL Money
43. Rural Bank Limited
44. SERVICE ONE Alliance Bank
45. St.George Bank Limited
46. Suncorp Bank
47. Teachers Mutual Bank Limited
48. The Rock
49. Tyro Payments
50. Victoria Teachers Ltd (trading as Victoria Teachers Mutual Bank)

51. UBank
52. UniBank
53. Unity Bank Limited
54. Up Bank
55. Westpac Banking Corporation
56. Volt Bank -Online bank
57. 86 400 Bank -Online bank

Australia-wide or multiple states

1.AMP Bank
2.ANZ
3.Commonwealth Bank
4.IMB Bank
5.ME Bank
6.NAB
7.St George Bank
8.Suncorp Group
9.Westpac
10.Beyond Bank Australia (NSW, WA, SA, ACT)
11.Defence Bank (for the Australian defence force and wider community)
12.Delphi Bank (NSW, VIC, SA)
13.Hume Bank
14.G&C Mutual Bank (NSW, VIC)
15.Rural Bank (mainly SA and VIC but also nationally through Bendigo Bank and Adelaide Bank)
16. Teachers Mutual Bank

Bank in New south wales Australia

1.Bank of Sydney
2.Police Bank (police members and their families)

Bank in Victoria Australia

1.Bank Australia
2.Bank of Melbourne
3.Bendigo Bank
4.Macquarie Bank
5.BankVic (police, health, emergency and public services)
6.Victoria Teachers Mutual Bank (teachers)