Financial Services Guide 

Effective from 28 February 2020



This FSG is issued by Queensland Country Bank Limited ABN 77 087 651 027 AFSL 244 533 trading under the registered business names of ‘Queensland Country Bank’ and is provided to assist you in deciding whether to use any of the services described in the FSG.

The FSG contains important information on:

  • Product Details and Advice
  • Our Products and Services
  • Our Business Partners and Commissions
  • Our Fees and Other Rewards
  • Complaint Procedures
  • Privacy
  • Our background, objectives and community involvement
  • How to Contact Us

Any reference in this FSG to “us”, “we”, or “Queensland Country” is reference to Queensland Country Bank Limited. 


In the course of your dealings with Queensland Country you may receive a Product Disclosure Statement (PDS) for certain products which will contain specific features about these products.

For other deposit products and non-cash payment products, you may receive a Product Information Brochure (PIB) similar to a PDS, and other disclosure documentation comprising relevant Terms and Conditions.

The PDS , PIB and Terms and Conditions documents will help you compare financial products and decide whether you wish to acquire the product. The PDS for general insurance products, travel products and foreign payment products are prepared by the product insurers.

If the product issuer provides you with personal advice on an insurance product you will receive a Statement of Advice (SOA) which sets out the basis on which the advice is given and the advice provided on the product.

A PIB and other documentation comprising Terms and Conditions will also be provided to you when taking out Queensland Country credit products including home loans, personal loans, car loans and credit cards.


We are licensed by the Australian Securities and Investments Commission (ASIC) to advise on and deal in a range of products.

Queensland Country is committed to providing our Members with quality, efficient banking products and services.









In association with Queensland Country Health Fund Ltd ABN 18 085 048 237, we are able to offer Members private health insurance cover. Queensland Country Health Fund is registered under the Private Health Insurance Act 2007 (Cth).

Queensland Country Bank Limited is the ultimate holding company of Queensland Country Health Fund Ltd.



We act for third party product issuers when we arrange for the provision of general insurance; debt insurance and travel facilities.



We act as agent for Insurance Australia Limited ABN 11 000 016 722 AFSL 227 681 trading as CGU Insurance (‘CGU’) for general insurance products. Consumer Credit Insurance is provided by MLC Limited ABN 90 000 000 402 AFSL 230694. While we can arrange insurance cover for you, your

insurance contract is with the insurer and not with Queensland Country Bank. Queensland Country will not be responsible for the performance of the insurance contract.

As a result of these relationships, we receive commission on insurance products as a percentage of the premium paid (net of all administration fees, fire services levies, GST, stamp duties and other statutory charges) for each policy.

If personal advice is given by the product issuer and an insurance policy is purchased through us, the amount of commission or the manner in which the commission is to be calculated will be disclosed in the Statement of Advice provided by our business partner.



In respect to the provision of Multi-currency Cash Passport and Cash Passport Platinum Mastercard, the product issuer is Heritage Bank Limited ABN 32 087 652 024 AFSL 240 984. We act under an agreement with Mastercard Prepaid Management Services Australia Pty Ltd ABN 47 145 452 044 AFSL 386 837 in making these products available to our Members.




House and/or Contents

Listed events

Accidental Damage







Landlord’s Insurance



Debt Insurance



Motor Vehicle Insurance





Motor Cycle Insurance



Boat Insurance




Caravan Insurance



Travel Insurance



Telegraphic Transfers

Western Union Business Solutions

20% revenue

Foreign Cash Ordering


20% revenue

Prepaid Travel Card

Access Prepaid Australia

1.1% of the in store load or Reload amount or AUD $15 whichever is greater.

Foreign Cash Ordering


20% revenue

Prepaid Travel Card

Access Prepaid Australia

1.1% of the in store load or Reload amount or AUD $15 whichever is greater.

EFTPOS facility


First Data

Provided the referrer meets the minimum Monthly referrals, the referrer will be paid $150 including GST once the merchant has been deemed mature. In addition First Data will pay 0.05% of the total credit card turnover.


We act under an agreement with Western Union Business Solutions (Australia) Pty Ltd ABN 24 150 129 749 AFSL 404 092 (‘Western Union’) in respect to the provision of money transfers, telegraphic transfers, foreign cheque deposits, drafts and foreign exchange orders.

In respect to foreign cash we act under an agreement with Western Union in its capacity as agent for the product issuer, Travelex Limited ABN 36 004 179 953 AFSL 222 444.

For each transaction involving the above products we receive a commission. When providing you with these products, the product issuer determines the exchange rate at their discretion, which includes a commission to them.



We refer Members to Bridges Financial Services Pty Limited ABN 60 003 474 977 AFSL 240 837 (‘Bridges’). Queensland Country receives a Referral Fee for each referral that results in the referred person becoming a client of Bridges and obtaining either Comprehensive Advice or Single Strategy

Advice. Referral Fees are received per initial conversion as outlined below.

Comprehensive Advice: Referral Fee received is $1,500.

Single Strategy Advice: Referral Fee is $300.



We are an issuer of Visa cards. We may receive a commission from Visa when you use a Visa card issued through us. The range of commissions vary depending on:

  • whether the transaction occurs within or outside Australia; and
  • whether the transaction is by an electronic EFTPOS machine or a manual machine.



We are a member of the electronic payments scheme known as BPAY. We receive a small commission per transaction from the merchant when you use BPAY through us.



Queensland Country Bank Limited is a shareholder of Indue Ltd ABN 97 087 822 464 and Cuscal Limited ABN 95 087 822 455, nationally-based payment systems and financial services providers.

Through these associations we are able to provide you with the following financial services:

  • Visa Cards
  • CueCards
  • rediCARDs
  • BPAY®
  • Member Cheques

® Registered to BPAY Pty Ltd ABN 69 079 137 518

The fees and charges which may apply on the use of these services are detailed in the Fees and Charges brochure. As a shareholder of Indue Ltd and Cuscal Limited we may receive a dividend from profits that may be made by these service companies. If dividends are paid on this or any other shareholding of Queensland Country, this will be reported in our annual company accounts.


[email protected]

[email protected] is a service provided by Australia Post which allows you to undertake a variety of financial transactions through Australia Post outlets using your Queensland Country Visa Credit card, Visa Debit card or CueCard. For transactions provided through [email protected], we pay Australia Post a set fee based on the actual transaction type conducted.



Fees and charges are applicable to our products and services as set out in our Fees and Charges brochure.


Our staff members and our Directors are paid wages or are salaried employees and most employees do not receive any commission or direct financial benefits for products in relation to which they provide advice, issue or arrange. We operate a staff performance bonus system where staff may receive a bonus depending on key performance indicators for volume of sales, revenue and/or performance. Staff may also receive non-financial incentive benefits. Staff covered by an enterprise bargaining agreement receive a pay review based on individual performance and the return achieved on the assets of Queensland Country. Any commissions from third parties or business partners are paid directly to Queensland Country Bank Limited.




Queensland Country has an internal complaints handling process which has been established to resolve any complaints relating to our products and services or the complaints handling process itself, where a response or resolution is expected. Any complaint you may have concerning Queensland Country should be directed to us in the first instance. If the person you are dealing with cannot resolve the issue, please ask to speak with their manager. If the issue is still not resolved, we encourage you to complete a Complaint Notification form available at any Queensland Country branch, although such notification is not required to be provided in writing.

Queensland Country will contact you to advise the procedures that will be followed in responding to your complaint.

Queensland Country will communicate with you throughout the complaint handling process. This will include a written response provided to you within 21 days of receiving your complaint. The purpose of this correspondence is to advise you of the final outcome, or if a final response cannot be made at this time, the reasons for the delay.



If you are not satisfied with our final response you may lodge a complaint, free of charge, with the Australian Financial Complaints Authority (AFCA). AFCA is an external dispute resolution scheme and can be contacted:


email:            [email protected]

phone:          1800 931 678

mail:              Australian Financial Complaints Authority

GPO Box 3, Melbourne VIC 3001.

Time limits may apply to complain to AFCA so you should act promptly or consult the AFCA website to find out if or when the time limit relevant to your circumstances expires.

If you have any complaints or disputes concerning the services provided by third parties or our business partners (including insurers or service providers) we encourage you to make enquiries direct with these third parties. Please contact us direct if you have any problems with the handling of third party complaints.


To be a member of Queensland Country, the Anti Money Laundering and Counter-Terrorism Act 2006 (Cth) requires Queensland Country to collect and verify certain personal information including your name and either residential address or date of birth. We may ask you to supply other information in connection with your application which may not be required by law but Queensland Country may not be able to process and approve your application if it is not supplied. Subject to the Privacy Act 1988 (Cth), you may access personal information which Queensland Country holds about you at any time by asking.

Information about how Queensland Country collects, holds, uses and discloses personal information is set out in our Privacy Policy which is available on our website and by request from our branches or by email.


In February 1971 The Mt Isa Mines Employees’ Credit Union Limited commenced operation as a service to the employees of Mt Isa Mines and its related companies.

During the 80’s and 90’s Queensland Country capitalised on its early success by firstly expanding Membership eligibility and branch locations to residents in North Queensland then later throughout the state. This expansion came with a name change to North Queensland Credit Union Limited and subsequently Queensland Country Credit Union Limited. Along with the increase in branches throughout the state, the diverse range of products and services available to Members followed.

In June 2005, Queensland Country Credit Union Limited merged with South East Community Credit Society Ltd, creating an expanded and more convenient branch network and enhanced products and services.

On 1 April 2017 Queensland Country Credit Union Limited merged with ECU Australia Ltd (ECU) and on 1 April 2018 a further merger with Queenslanders Credit Union was completed. The opportunity to build a genuine, customer-owned alternative to the big banks for all Queenslanders was the driving force behind these two mergers. 

Most recently, in February 2020, the organisation converted to become a member-owned bank. This exciting change was made with a view to increasing the market share of the organisation, particularly amongst younger members of the community who are more likely to choose a bank rather than a credit union as their main providers of financial services. While the change was aimed at allowing more people to experience the unique benefits of banking with Queensland Country, it has not diminished the organisation’s focus on placing the needs of our Members and communities at the centre of everything we do.


At Queensland Country we like to keep things simple. We’re an independent, Member owned organisation. We provide a full range of competitive financial services. And we are committed to showing our Members how much we value them.

Our Members are the most important visitors to our premises, online banking channels, and Contact Centre. After all, they are part-owners in Queensland Country. When you join Queensland Country, you are issued one Membership Share. That means you become a part-owner and get to use Queensland Country for all your savings, loans and other financial products and services that we provide. Members are also entitled to vote in the election of the Board of Directors who set the operating policies for Queensland Country as well as supervise the performance of the organisation. Entities which hold a deposit account under section 79 of Queensland Country’s constitution, or are under 18 years of age are not entitled to vote.

With branches stretching from as far north as Weipa, west to Mount Isa and south to Stanthorpe, we love looking after our fellow Queenslanders.


The mission of the Directors and staff at Queensland Country is that we are the best people to be banking with. Our key objectives are:

  • to deliver the highest quality products and services to help our Members fulfil their financial needs
  • to provide a positive, friendly working environment where staff feel highly valued and are able to meet their career aspirations
  • to contribute strongly to the community as a responsible, highly ethical corporate citizen
  • to be a significant contributor to the Queensland Country movement and its ideals
  • to maintain a strong level of financial performance to enable us to achieve our goals


Our strength and financial security are derived from our diverse asset base.

At any time, around 90% of savings deposited with Queensland Country are loaned back to Members through personal, home and investment loans. Our spare funds are invested conservatively. These are mainly in deposits with large regulated Australian Financial Institutions. Queensland Country does not invest in the stock market or overseas.

Member-owned banks are regulated by the same government regulator as the major banks - the Australian Prudential Regulation Authority (APRA). APRA’s supervision is designed to minimise the chance that a Financial Institution will be unable to meet its obligations to depositors. Credit Unions, Member-Owned Banks and Building Societies must all comply with the same set of APRA rules (known as Prudential Standards). Queensland Country complies with all Prudential Standards and are in a strong and stable financial position.



Queensland Country is committed to making a real difference in the lives of our Members, our people and in the communities where we operate. One of the most valuable ways we achieve this is through financial assistance to community organisations by way of sponsorships and our Community Grants Scheme.



Queensland Country provides sponsorship support for a wide range of activities and groups that offer a tangible benefit to the community and encourage active participation in local events.

Sponsorships allow Queensland Country to proactively support community events and be recognised for our positive contribution to the community. We understand and acknowledge that grass-roots organisations and events play a major role in the development of a community, and we try to become actively involved in these activities wherever possible.

As a result, an event sponsored by Queensland Country is likely to benefit the community group / event in the following ways:

  • financial support
  • ongoing assistance
  • higher awareness for the group / event due to Queensland Country’s involvement
  • flow-on positive effect to the wider community due to increased stability / success of a sponsored event
  • assistance in-kind, such as expertise, financial or banking services

As a Queensland based organisation, we focus on providing sponsorship in every area that our branches lie, from as far north as Weipa, west to Mount Isa and south to Stanthorpe.



Each year Queensland Country provides funding for not-for-profit groups across Queensland as part of our Community Grants Scheme. This scheme supports groups in our branch areas for a wide range of activities, facilities and services that offer tangible and sustainable benefits to the community, and encourage active participation in these local communities.


We understand and acknowledge that community groups play a large role in the development of a community, and that it can be difficult for these small organisations to self-fund activities and services. Queensland Country aims to offset costs or fully fund projects that improve the lives of our Members and the communities in which they live, and that are deemed to be widely beneficial to the community. This assists local groups

to develop and expand their activities and reach within their community. Our Community Grants are provided for programs

in the areas of:

  • Arts, culture and heritage
  • Sport and recreation
  • Education
  • Health
  • the environment



If you have any questions or need more information, please contact us by:


Branch                                  Find a complete list of our branches here

Post                                       Queensland Country - PO Box 679, Aitkenvale Qld 4814

Phone                                   1800 075 078


Email                                     [email protected]