.jpg)
Qudos Bank and Bank Australia join together for the first day of operations as one entity.
Together, we are one of the largest customer-owned banks in the country, supporting 300,000 customers with nearly $17.5 billion in assets served by almost 900 employees.
Our merger is built on a foundation of shared values, and a commitment to people and planet. As one, we’re creating a stronger, more sustainable bank that puts customers at the centre of everything we do.
Damien Walsh | Managing Director
LiamNeal-03426-(1).jpg)
Access a larger branch network - 15 branch locations
Banking products, including Qantas Points products retained
Wider range of products and a number of reduced fees and charges
We remain 100% customer-owned
Your account details and how you bank with us stay the same
Our employees and contact centre is still 100% Australian based
Bank Australia and Qudos Bank announced the proposed merger with the Boards of both banks citing the strong values alignment, commitment to customer ownership and opportunity to scale their impact as the basis for exploring the merger.
Following due diligence, Bank Australia and Qudos Bank have agreed to continue to explore a proposed merger and seek regulatory approval to merge before asking members to vote in 2025.
APRA application lodged for regulatory approval.
Members were asked to vote on the proposed merger.
Our Special General Meeting was held on Monday 14 April 2025, both in person and online. The Merger Resolution received 78.43% of votes in favour and was carried.
Merge date. Bank Australia and Qudos Bank merged on 1 July 2025 offering stronger, more connected banking services to our members.
Thank you to all our members that joined us for our Special General Meeting on Monday 14th April 2025, both in person and online. We received a very high level of participation, with 17.27% of members voting on the Special Resolution.
The Merger Resolution received 78.43% of votes in favour and was carried.
The resolution required a minimum threshold of 75% of voting members to vote in favour of the resolution for it be carried.
THAT the members of Qudos Mutual Limited approve the total transfer of the business of Qudos Mutual Limited to Bank Australia Limited, to take effect on 1 July 2025 or on such other date as may be specified by the Australian Prudential Regulation Authority.
We couldn’t be prouder to bring our two strong customer-owned banks together and we’d like to thank all of our members who took the time to vote. Everyone who voted has played an important role in shaping the future of our customer-owned bank.
%20(650%20x%20700%20px).avif)
From our shared history credit unions supporting key industry sectors and communities since the 1950s, to our current status as two of Australia's leading customer-owned banks, a successful merger will bring together our combined legacies and ongoing commitment to customer ownership.
Like Qudos Bank, Bank Australia:
A full set of FAQs is available on page 81 of the Member Information Booklet.
Both the Qudos Bank and Bank Australia brands will continue to operate in the market from day one including how members engage with Qudos Bank brand channels. Your day-to-day experience with Qudos Bank across online banking, the app, contact centre and branches, will remain the same.
As a customer-owned bank, in the event of a potential future review of the brand names used by the Merged Bank, then members will be engaged for their views.
As two banks are coming together, the Merged Bank will operate as one legal entity (Bank Australia Limited), but this won’t change the brand names in the market. The Qudos Bank brand will continue to exist as Qudos Bank in the same way it does today under the current legal entity of Qudos Mutual Limited.
The Merged Bank will remain 100% customer-owned with balanced representation from both banks across both the Board and executive level with head offices in both Collingwood (VIC) and Mascot (NSW).
Damien Walsh (Bank Australia) will become Chief Executive Officer and Managing Director. The current Chair of Qudos Bank, Jennifer Dalitz, will be Chair of the Board of the Merged Bank.
An executive designate team for the merged bank has been appointed with representatives from Bank Australia and Qudos Bank in line with our merger of equals approach. You can find more detailed information in the Member Information Booklet available on our website.
Accounts and products held by members of each bank will continue on existing terms and conditions. Plus, as a result of the merger there will be savings for members via a number of reduced fees and charges across the product range. Products earning Qantas Frequent Flyer points will remain.
There will be no changes to interest rates on savings, term deposits, loans and Retirement Savings Accounts as a direct result of the merger. Interest rates on deposit and loan products will stay the same on day 1 of the Merged Bank.
As a Qudos Bank member your member number, account numbers and BSB will not change on day 1 of the Merger. You will continue to access your accounts through the same Qudos Bank brand channels including internet banking, app, and contact centre channels, and keep using your existing debit, credit cards and digital wallets following the Merger.
We're pleased to say our employees including the contact centre and lending teams will remain 100% Australian based. There will be no non-executive job losses or forced redundancies due to the Merger. We need our people more than ever, and everyone has a role to play now and in the Merged Bank. This an exciting time for employees of both banks as the merger creates more opportunities for our people to develop their skills and grow their careers.
As part of our merger, customers of both Qudos Bank and Bank Australia will benefit from expanded in-person services, with access to 15 shared branches across New South Wales, Victoria, Queensland, and the ACT. You will be able to visit any branch—regardless of the brand—for help with general banking enquiries and basic transactions.
Each branch will be equipped with:
Qudos Bank members will cease to be Qudos Bank members and will automatically become members of Bank Australia and will be issued a new share in Bank Australia with the same rights as other members.
Customers will have fee-free access to all four Qudos Bank and Bank Australia branded ATMs.
Customers can also still enjoy free access to the fee-free network operated by the four major banks (CBA, ANZ, NAB, Westpac). Please note both Major and independent ATM networks may charge a fee for cash withdrawals and balance enquiries in some instances.
Another convenient way to make fee free cash withdrawals is by visiting one of over 3,300 participating Post Offices across Australia that offers Bank@Post services.
Customers can also continue getting cash out when making a purchase via EFTPOS at selected retailers.
We respectfully acknowledge the Traditional Custodians of all the lands on which we live and work, and we pay our respects to Elders past and present. We recognise their continued connection to the land, waters and culture and we acknowledge that sovereignty has never been ceded. Our head offices are located on the land of the Wurundjeri Woi Wurrung people of the Kulin Nation in Victoria, and the land of the Gadigal people of the Eora Nation in New South Wales.
We are an equal opportunity employer that celebrates the diversity, equity and inclusion of all people.
