In a mutual, the organisation is owned by its members. That means, unlike bigger banks, which are owned by external shareholders, G&C Mutual Bank is member-owned. So, when G&C Mutual Bank hold an Annual General Meeting every year, all members have the opportunity to attend, to have their say in the running of their bank.
Being member-owned has another important advantage. As G&C Mutual Bank doesn’t have to pay out profits to keep external shareholders happy, it can concentrate on making its members happy instead. Its profits can be re-invested back into the bank to provide better value to members, in the form of lower fees and more competitive rates on products.
When you check out the range of financial products offered by G&C Mutual Bank, you may find they compare favourably to what’s on offer elsewhere. And while it may not offer the extensive range of the much bigger banks, G&C Mutual Bank allows customers to focus on what’s important: great products that offer great value.
As is often the case with mutuals, G&C Mutual Bank has a strong focus on customer service. According to the bank, its staff work hard to meet every member’s individual financial goals. This may mean making visits to members’ workplaces and homes, providing support over the phone or online, or being there in branch when needed.
G&C Mutual Bank has the goal of being there to help its members with everything from choosing the right product for them, to establishing their future goals or even providing advice on how to budget.
The bank has eight service centres throughout New South Wales and Victoria, servicing members of Bathurst, Lismore, Malabar, Melbourne, Mid-City (Sydney), Newcastle, Parramatta and Wagga Wagga. G&C Mutual Bank also has a contact centre available during business hours for members who cannot get to a service centre, as well as easy banking options including phone, online and mobile banking offering members access to their accounts at anytime they need.
It seems G&C Mutual Bank must be doing something right. Over the years, the bank has taken home a host of awards. In 2018, the bank’s Low Rate Credit Card was recognised within Mozo’s Experts Choice awards, and was awarded a five-star rating by Canstar for outstanding value. Prior to that, its cards – and many of its other financial products – picked up further recognition.
Want to know more about G&C Mutual Bank’s credit cards? Currently, the bank has two cards: a low rate card and a platinum card. As these types of cards are very different – suiting two very different types of cardholder – let’s see what they offer, and who they work best for.
To find out more, click through to each G&C Mutual Bank card.
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