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The mutual banking sector has seen strong growth over the last couple of years, with socially conscious customers increasingly asking their brokers about alternatives to the major banks who have been forced to reinvent themselves following the fallout from the banking royal commission. We explore the shift towards customer-owned banks
Mutual banks provide the same consumer banking services as publicly listed banks, including credit cards, personal loans, home loans, term deposits, online savings accounts and mobile banking. The critical difference is that mutuals are owned by the customers they serve.
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