A Guide To Australian Ethical Banks
Ruth Gilmour
Last updated: September 11, 2026
Knowing how your banked or invested money is affecting the world is extremely important. Ethical
Banking in Australia is defined as a bank that doesn’t lend money to fossil fuels, gambling, arms, tobacco and live exports. Sounds pretty good, right? Unfortunately many of the major banks in Australia don’t qualify under these rules.
If ethical
banking is important to you, here are four banks that you can count on:
Bendigo Bank
Bendigo Bank always talks about its strong emphasis on “giving back to the community”, and they really do come good on their word. They recently confirmed that the bank has made a conscious decision to “reduce and offset their impact” by refraining from lending money to coal projects.
Suncorp
Suncorp had originally provided $1,049m to the fossil fuel industry, but have recently changed their tune. They released a statement saying: “We no longer have any exposure [to fossil fuel companies] as
Suncorp Bank only provides lending to personal, SME and agribusiness clients”.
Teachers Mutual Bank
Teachers Mutual Bank is one of the best ethical banks around. They invest in environmental resources, don’t lend to fossil fuel sectors and reward those who are applying for a loan and buying environmentally friendly products with reduced rates. This goes for buying electric cars and solar panels.
Heritage Bank
Heritage Bank has confirmed that they don’t invest with companies in the coal and gas sector.