As a customer owned bank, we are a member focused, values-driven organisation and we are committed to making banking easy, safe and accessible for all of our members – especially those most at risk of elder abuse.
Sadly, elder financial abuse is the most common form of elder abuse prevalent in the community and is likely to increase as the Australian population ages. Those over the age of 50 are most at risk, but it can happen to anyone, including you or someone you care about.
The United Nations (UN) has designated 15 June, every year as the internationally recognised World Elder Abuse Awareness Day (WEAAD). To align with this event and promote awareness of this issue, G&C Mutual Bank developed an Elder Financial Abuse Guide with information to help you protect yourself or someone you love from elder financial abuse. It covers the various types of elder financial abuse; how to recognise the warning signs and safeguard against financial abuse, scams and fraud; as well as the various resources and support services available to assist.
In addition, our terms and conditions have recently been updated to help combat financial abuse, with staff being further trained to help identify the warning signs and provide assistance. G&C Mutual Bank was one of 21 Australian businesses across telecommunications, banking, insurance, education and technology to mobilise against perpetrators of domestic and family violence as part of the respect and protect initiative designed to disrupt the rise of financial abuse in Australia and help prevent the misuse of products and services as a vehicle for abuse.
In 2023, we also released our Guarantor Guide to assist those thinking about becoming a guarantor. The guide outlines important information and risks to consider before making any decision to become one.
Our other member focussed initiatives include:
- Educational content and tools such as our Deceased Estate Guide, and information on financial hardship, scams and fraud security
- Service enhancements to provide accessible and inclusive banking for members
- Digital enhancements including website upgrades, a new Mobile App, and the launch of Digital Wallet
- Special support measures for members impacted by floods and our commitment to rebuild in Lismore and support the local community
- First financial institution globally to be accredited under the Mutual Value Measurement Accreditation process
- Launch of our Responsible Banking Policy, intended to outline how our members’ money is being used to contribute to a positive, viable banking model focused on meeting human needs and sustainability.
- Member engagement via our in-person member roadshows
- Living our values so we can continue to delight our members
- Continuing to deliver award-winning products, independently recognised for their great value, flexibility and innovative features
- Supporting key worker groups such as through the NSW Ambulance Employee Awards
- Support of staff volunteering opportunities to help local communities
- Support for the communities we are part of through the Australian Mutuals Foundation (AMF)
- Support of the values-driven, mutual banking and cooperative models through the Customer Owned Banking Association (COBA), Business Council of Co-operatives and Mutuals (BCCM), World Council of Credit Unions (WOCCU), and Global Alliance for Banking on Values (GABV)
We're ready to help you
We appreciate everyone’s personal circumstances are different, but encourage members with any concerns about hardship, financial abuse, accessibility or challenging life events to contact us on 1300 364 400.
