About Alliance Bank savings accounts

Four mutuals have teamed up with Bendigo and Adelaide Bank to offer a range of banking products and services backed by personalised local service.

Alliance Bank is a little different than your typical bank. It is an independent social enterprise bank that is 100% owned by its members. It was formed when Bendigo and Adelaide Bank joined forces with four independent mutuals: BDCU Limited, Service One Mutual Limited, AWA Mutual Limited and Circle Mutual Limited.

What is Alliance Bank?

Alliance Bank is a group of four separate mutuals: BDCU Limited, Service One Mutual Limited, AWA Mutual Limited and Circle Mutual Limited. Each of these Alliance Bank members started life as a credit union designed to look after the financial needs of a local community, and some have a history dating back more than 50 years.

The Alliance Bank Group was created in 2014 when these four mutual organisations teamed up with Bendigo and Adelaide Bank to create the Alliance Bank model. These mutuals then changed their names to highlight the new model.

As a 100% member-owned bank, Alliance Bank collectively has more than 40,000 members, 160 staff and 22 branches spread across NSW, the ACT, Victoria, Queensland and WA.

Its four member institutions each boasts their own local presence in different regional areas around Australia:

  • AWA Alliance Bank. AWA Alliance Bank started life as AWA Credit Union. It was established in 1969 and has branches at Geelong and Portland in Victoria, and Mandurah in WA.
  • BDCU Alliance Bank. Berrima District Credit Union Limited was founded in 1963 and boasts 12,000 members throughout the NSW Southern Highlands and Tablelands.
  • Circle Alliance Bank. Circle Alliance Bank was originally founded as Circle Credit Co-operative Limited in 1963 and has one branch in Victoria and another in Queensland.
  • Service One Alliance Bank. Service One Credit Union Limited was created in 2001 and has more than 19,000 members. It was formed by the amalgamation of the Credit Union of Canberra, the Snowy Mountain Credit Union and the Hospitals Credit Union, plus the addition of Bemboka Community Credit Union in 2004.

What does Alliance Bank do?

Alliance Bank itself does not offer any financial products or services. Instead, each of its four member banks offers its own suite of transaction accounts, savings accounts, investment accounts, loans and credit cards.

Each member institution also offers the latest Bendigo Bank products and technology to its members, while at the same time maintaining its strong local presence and individual branding. Each member institution invests profits in a range of community initiatives to support its members and to produce a positive social impact in its local community.

What are the pros and cons of banking with Alliance Bank?

Pros

  • Backed by Bendigo and Adelaide Bank. Alliance Bank is backed by the financial strength of Bendigo and Adelaide Bank, which supplies Alliance Bank branded products to the four member institutions.
  • 100% member owned. Alliance Bank is 100% member owned, which means the focus is on providing the best possible products and services to its members instead of on making a profit.
  • Support for local communities. Each Alliance Bank member institution funds a range of projects and initiatives to provide support for its local community.

Cons

  • Small branch network. Alliance Bank’s members have 22 branches around Australia, many of which are localised in specific areas. This means that many potential customers around Australia may not be able to easily access a branch.

How do I apply for an Alliance Bank account?

If you’d like to open an account with an Alliance Bank member, you can find out more about the savings and transaction accounts each member offers by clicking on the links below:

You’ll be able to find detailed information on the accounts available from each separate Alliance Bank member, and then compare them with other similar offerings on finder.com.au to find the right solution for your banking needs.

More resources on Finder

Ask a question

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Read more on Bank Accounts

  • Australian debit card statistics

    Explore how the typical Australian uses their debit card in our detailed guide to debit card statistics.
  • ANZ Plus Growth Saver Account

    A multi-goal savings account that lets you earn interest, set and track up to 99 savings goals, all from the one app.
  • ANZ Plus Everyday Account

    ANZ Plus Everyday offers a linked everyday and savings account with no monthly account fees. Plus, access digital tools and features to help you budget and save for different goals.
  • Kids debit cards

    Support your child's financial knowledge and teach important real-life money skills in a safe and controlled way with a kids debit card.
  • Online banks in Australia

    Online-only banks do not operate any physical branches resulting in reduced expenses and more affordable banking solutions for their customers.
  • Compare bank accounts with no fees

    Don’t pay unnecessary bank fees, compare financial institutions and learn about the pros and cons of a fee-free bank account.

  • Debit cards with no foreign transaction fees

    International transaction fees can add up to a lot of wasted money. These debit cards are great for travelling and online shopping and will save you money by waiving this annoying fee.

  • Best bank accounts in Australia

    The best bank account will help you manage your everyday spending with low fees and easy access to your money. Check out our Top Picks curated by experts.
  • Who owns my bank?

    A lot of smaller banks are owned by bigger banks. For example, Bankwest is actually owned by CommBank. You can check who owns your banks in this guide, and learn how this could impact you as a customer.

  • How to close your bank account

    Here's how to close your bank account in 3 steps. Plus, what to do before you close your bank account.

Go to site