Customer Owned Banking Association

The Customer Owned Banking Association (COBA) lodged a notification for collective bargaining on 6 September 2024. COBA is an industry association for Australia’s customer-owned banking institutions, which include mutual banks, credit unions and building societies. COBA currently comprises 56 members.

COBA has lodged the notification on behalf of a subset of its members which are part of the Mutual Support Network, a collective of small customer-owned banking organisations (MSN Members). There are currently 25 MSN Members. COBA, on behalf of MSN Members, has lodged a notification dealing with the collective bargaining and acquisition of goods and/or services by MSN Members as part of a procurement process. The categories of goods and services for which the notification has been lodged include technology solutions relating to core banking activities as well as more general business solutions.  The categories as set out in Schedule 2 of the notification are intended to be exhaustive, and MSN Members may voluntarily participate in the Notified Conduct, or choose to negotiate or otherwise deal with the Targets on an individual basis. The Notified Conduct applies only to current and future MSN Members.

The notified conduct does not include a collective boycott. Legal protection commenced on 20 September 2024. 

On 21 November 2024, the ACCC issued a Statement of Reasons for its decision to allow the notification to remain in force for a period of 5 years, until 5 September 2029, unless or until the ACCC ends the protection provided by the notification or the notification is withdrawn by COBA.