Both Bank Australia and Australian Mutual Bank describe themselves as "ethical", however actively generate profit for Allianz by partnering with them to provide customers with insurance. Allianz fund Israel's genocide of the Palestinian people, and insures companies that have unethical and unsustainable business practices. You can read all about Allianz's proximity to destructive companies here and here.  

Australian Mutual Bank states the following on their "Responsible Business Practices" page: 

"Australian Mutual Bank will avoid the provision of financial support to individuals or businesses whose activities are deemed detrimental or destructive to the environment, or harmful to members of society." 

I guess they don't deem genocide as detrimental or destructive. 

Bank Australia say that they do not fund the fossil fuel or arms industry, but they found a loophole by funding Allianz instead, who then definitely fund those things. 

I contacted Bank Australia about severing their ties with Allianz, and they responded with this: 

"We make sure our partners are aligned with Bank Australia’s values, and our commitment to protecting people and the planet is a key part of our decision‑making process when entering any new partnership.

We’ve had a long-standing relationship with Allianz being our insurance partner for more than 20 years. Over that time Allianz has continued to provide value for money, the right level of protection for our customers’ needs, customer service, and has expanded its own sustainability commitments." 

So basically, "even though they contribute to the killing of innocent people and invest money in unethical corporations, they have good insurance plans and use renewable energy to power their buildings soooo... no can do sorry". Great. 

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