Bank Australia has reported a significant milestone, marking its 10th anniversary with a doubling of its customer base to 300,000 and a five-fold increase in total assets.

The bank’s assets have grown by 416%, rising from $3.6 billion to $18.6 billion. This growth coincides with a tripling of its workforce to over 900 employees.

Founded in 1957 as the CSIRO Credit Co-operative Society, Bank Australia transitioned to become Australia’s first customer-owned bank in 2011, initially under the name bankmecu. The Bank Australia brand was officially launched on 17 August 2015, marking a new chapter in its history.

Bank Australia has successfully expanded its reach beyond its original base in Victoria, establishing a national presence. The bank has also gained international recognition, featuring in the Forbes World Best Banks ranking in both 2024 and 2025.

Bank Australia has set a target to achieve net zero emissions by 2035, reflecting its commitment to sustainable practices. It has ceased offering car loans for new fossil fuel vehicles, focusing instead on loans for electric or used fossil fuel cars. Additionally, Bank Australia offers a Clean Energy Home Loan, incentivising customers to make environmentally friendly upgrades to their homes.

As of 1 July 2025, 52.63% of Bank Australia’s customers are from a socially aware target market, a notable increase from 38.1% in July 2015. This shift underscores the bank’s appeal to customers seeking to align their banking choices with their values.

Managing Director of Bank Australia, Damien Walsh, stated, “The creation of the Bank Australia brand in 2015 represents a significant moment in our history, where we doubled down on our purpose and legacy that had been built over half a century since our founding. We’ve worked hard to remain true to who we are on behalf of our customers, and this clarity of purpose has driven our actions since day one.

“In launching the Bank Australia brand, we set out to give Australians a choice to align their banking with their values, and in the decade since we’ve built on our promise to help our customers use their money to create positive impact for people and planet.”

Walsh concluded, “With this pivotal milestone, we look forward to continuing to grow the market for purpose-driven banking in Australia. We’ll stay focussed on ensuring we create better banking experiences and greater impact for our customers, and we’ll continue to ensure our customer’s best interests are at the centre of everything we do.”