.jpg)
A Brisbane-based provider of roadside assistance and insurance has become the first automobile club to launch a mutual bank.
Queensland's largest auto club, RACQ, has launched the first 13 RACQ Bank branches around the state to offer its members a range of services and personal banking products with competitive rates and low-to-no fees.
“RACQ Bank is giving Queensland a brand they can trust and believe in. It allows us to provide an even greater service to our more than 1.6 million members,” RACQ Group CEO Ian Gillespie said. “We’re committed to giving members honest, easy, and great value banking products and services, without any hidden fees or excessive charges. We’re also one of Queensland’s last remaining mutual banks, and we are working for our members, not for shareholders. Any profits the bank makes will be reinvested back into the RACQ ecosystem for the benefit of our members here in Queensland.”
Search and compare insurance product listings for Banks from specialty market providers here
The RACQ boss said the club had invested in user-friendly technology through its internet banking platform, mobile app, and modern payment options – Android Pay, Apple Pay, and Samsung Pay – to provide members with optimal experience.
“Our state-wide footprint and digital capabilities means RACQ can provide the tools modern banking customers demand,” Gillespie said. “We have committed ourselves to establishing digital platforms equal to those of any top-level bank in the country.”
RACQ merged with QT Mutual last year.
Related stories:
RACQ boss says Cyclone Debbie recovery making good progress
RACQ says 'distracting' teens pose a road risk
