Defence Bank is one of Australia’s larger member-owned banks serving the Australian Defence Force and the broader community, including staff in Commonwealth Department agencies. The Bank’s purpose is to serve those who protect us and focuses on the financial needs of its members. We are a purpose over profit organisation.
50 years ago, Defence Credit Co-Operative Limited began operations, providing banking products and services to Defence personnel.
Defence Bank now has more than 78,000 members across Australia and more than $4 billion in assets.
Defence Bank Chief Executive Officer Roberto Scenna says the 50th anniversary is a time to reflect and celebrate.
“Our purpose is to serve those who protect us. We’re the bank that understands this.
“It’s incredible to look back and imagine that 50 years ago today, a group with a shared vision got together and created a financial institution designed to directly serve fellow Australians in Defence.
“The significance of our origins shouldn’t be underplayed.
“Our Defence personnel were not as well served as they could be, so a new institution was born to help them reach their financial goals.
“Defence Bank has kept that ethos intact today through its commitment to recognise and respond to the unique lives of members of the ADF, veterans and their families and the wider Defence community.
“Working for Defence Bank makes me feel really, really proud. I love the fact that we have such a clear purpose around the ADF, members, their unique lives and developing solutions to support them.
“For five decades, Defence Bank has built a foundation of trust, advocacy and financial strength. More than 40 per cent of our employees have a direct connection to Defence, which drives their passion and purpose.”
Defence Bank’s strong member advocacy is reflected in its NPS above +50, along with solid S&P and Moody’s ratings, reinforcing its performance, profitability and purpose.
Roberto continued: “As Defence Bank celebrates 50 years of serving the ADF community, I want to say a big thank you to our members for banking with us.
“I see a bright future ahead for the next 50 years.
“That future will include new digital investment, face-to-face banking in our branches, really competitive products and services, and innovative rewards for your loyalty.
“Our dedicated Defence Bank team will continue to look at ways that make banking with Defence Bank even more convenient, compelling and affordable.”