Customer-owned BCU Bank wears its community-focused approach to banking like a badge of honour.
Founded in the early 1970s by a group of local business owners as the Bananacoast Community Credit Union - because its founders are primarily banana farmers from the north coast of New South Wales - it aimed to provide financial products and services to its customers.
It positioned itself as a "realistic alternative to the big banks".
Since then, it has expanded and evolved to serve communities across northern NSW and southeast Queensland. In 2019, BCU became a division of Police & Nurses Limited (P&N Group), merging with P&N Bank in Western Australia to form a national multi-brand organisation and become one of the largest member-owned lenders in the country.
BCU Bank has kept its brand name and identity, staying true to its roots by offering what it calls "customer-focused financial solutions" and reinvesting its profits into local programs and initiatives that support communities.
BCU Bank offers a comprehensive range of banking products, including home loans, personal loans, savings accounts, transaction accounts, credit cards, and term deposits.
It also provides business banking products and financial planning services.
BCU's digital presence includes its online banking platform and BCU Bank mobile app, both of which feature functionalities like real-time payments via Osko and PayID, BPAY, card management, and account customisation.
Customers looking for a bank with a physical presence can find BCU across its service regions.
The bank emphasises community engagement and customer service, earning it positive feedback, particularly on its trustworthiness and helpful staff. However, like many financial products, difficulties concerning administrative processes have also been noted.
As an authorised deposit-taking institution (ADI), BCU Bank follows the same regulatory standards as the major banks. All deposits up to $250,000 per account holder are protected by the government's Financial Claims Scheme (FCS).
