Defence Bank Foundation

What Defence Bank Foundation does

Defence Bank Foundation is the charitable arm of Defence Bank, a customer-owned mutual bank established on 18 March 1975 at Victoria Barracks, Melbourne, exclusively serving the Australian Defence Force community. The Foundation itself was established in 2014 to deliver programs such as Defence Community Dogs, which provides trained assistance dogs to serving and ex-serving ADF members with PTSD and other conditions; the program is partly funded by 50% of the $45 annual fee from the Defence Bank Foundation Credit Card. Defence Bank operates as one of only three approved lenders for the government's Defence Home Ownership Assistance Scheme (DHOAS), which provides interest subsidies on home loans to approximately 30,000 current and former ADF members.

The bank operates Australia's largest on-base branch network with 27+ branches across all eight Australian states and territories, supplemented by mobile lenders, home loan consultants, an award-winning iOS/Android mobile app (50,000+ Google Play downloads), online banking, and a contact centre. Its product suite spans fee-free transaction accounts, savings products (iSaver, Max eSaver, Salute reward-for-service, teen and cadet accounts), DHOAS-compatible and standard home loans, investment property loans, car and personal loans, a low-rate credit card, and a full insurance range distributed through CGU, Navy Health, and Covermore. The platform supports BPAY, Osko, PayID, Apple/Google/Samsung/Garmin/Fitbit Pay, Convera international payments (130+ currencies), and the Mastercard Cash Passport Platinum travel money card. The bank holds AFSL/Australian Credit Licence 234582, is a member of the Australian Government Financial Claims Scheme, and adheres to the Customer Owned Banking Code of Practice.

Revenue is generated primarily through net interest margins on home lending (particularly DHOAS-subsidised mortgages), credit card fees and interchange, insurance distribution commissions, and foreign exchange margins on international payments; the Foundation itself is funded by donations, card-fee contributions, and the Workplace Giving Program. The bank reinvests profits for member benefit rather than distributing them to external shareholders. Defence Bank's leadership is overseen by a Board of Trustees chaired by John Lord, with operations managed by an executive leadership team based at the Melbourne headquarters (Level 10, 31 Queen Street).

Name

Defence Bank Foundation

Legal name

Defence Bank Limited

Website

https://defencebank.com.au

Company type

Private

Founded year

1975

Operating status

Operating

Headcount range

101–250 employees

Short description

Defence Bank Foundation is the charitable arm of Defence Bank, a customer-owned Australian mutual bank exclusively serving Australian Defence Force members, veterans, and families. It operates Australia's largest on-base branch network, DHOAS-subsidised home loans, and the Defence Community Dogs program for veterans with PTSD.

Ownership category

akta.pro rank

Product category

Veteran and Defence Community Banking Services

NAICS

Grantmaking Foundations (813211), Voluntary Health Organizations (813212)

SIC

Services-Social Services (8300)

akta.pro primary industry

Grantmaking & Philanthropic Funds (Institutional Donors) (BPADAOAB)

akta.pro secondary industries

Private Banking Philanthropy & Impact Advisory (FSABADAJ), Veterinary Charity Clinics & Medical Aid (BPAGAIAD)

Keywords

• Veteran support services
• Assistance dog program
• ADF community banking
• Charitable foundation
• PTSD support services

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices28 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest income on lending products: Defence Bank Foundation's parent entity (Defence Bank) generates primary revenue from interest spreads on home loans, personal loans and credit card balances extended to its member base.
2. Credit card fees and interchange: Annual fees from the Defence Bank Foundation Credit Card ($45/year with 50% donated to the Defence Community Dogs program) and interchange revenue from card transactions.
3. Insurance commission: Commissions earned from insurance products distributed through the bank including CGU (car, home, landlord, travel, caravan, boat, motorcycle), Navy Health, and Barrack Room contents insurance.
4. International payment services: Fees and foreign exchange margins earned on telegraphic transfers, international payments and the Mastercard Cash Passport Platinum travel money card, facilitated through partnership with Convera.
5. Charitable donations and fundraising: The Defence Bank Foundation is funded through donations, the $45 annual fee from the Defence Bank Foundation Credit Card (50% donated), and the Defence Bank Workplace Giving Program to support the Defence Community Dogs program.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Defence Bank Foundation is the charitable arm of Defence Bank, providing assistance and support to serving and ex-serving Australian Defence Force members in times of need. Its flagship initiative is the Defence Community Dogs program, which places trained assistance dogs with veterans suffering from PTSD and other service-related conditions. The Foundation is funded by donations (100% of net donations to charitable causes) and 50% of the annual fee from the Defence Bank Foundation Credit Card.

Product overview

Defence Bank Foundation is the consumer-facing banking division of Defence Bank, a mutual bank established in 1975 serving the Australian Defence Force community. The company operates as a single unified banking platform offering a comprehensive suite of financial products and services organized across four core categories: transactional banking (Everyday Access Account, savings products including iSaver, Max eSaver, Salute, Teen Saver, Cadet Saver, and Kids Club); lending products (DHOAS Premier Home Loan, Premier Home Loan, Premier Investor Home Loan, DHOAS Essentials with Ultimate Package, fixed rate options, home loan offset account, car loans, personal loans, and debt consolidation); card products (Defence Bank Foundation Credit Card and Visa Debit Card with multiple camo designs); and insurance products (car, building and contents, landlord, travel, barrack room contents, and motorcycle/caravan/boat insurance through CGU and Covermore). Digital services include an award-winning mobile app, online banking, digital wallet integration (Apple Pay, Google Pay, Samsung Pay, Garmin Pay, Fitbit Pay), international services (telegraphic transfers via Convera, foreign currency, Mastercard Cash Passport Platinum), and community initiatives including the Defence Community Dogs program providing assistance dogs to veterans. The bank differentiates through DHOAS home loan products compatible with the Defence Home Ownership Assistance Scheme and specialized products recognizing ADF service milestones.

Differentiator

Problem solved

Functional benefit

Brands

• DHOAS Home Loans: Defence Home Ownership Assistance Scheme compatible home loan products for ADF members
• Defence Bank Foundation Credit Card
• Salute
• iSaver
• Max eSaver
• Teen Saver
• Cadet Saver
• Kids Club Account

Products and services

• Defence Community Dogs Program

Quantifiable outcome

• Net Promoter Score of +65
• +3 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles2 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

Feature4 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• National Australia Bank (NAB)coreChannel Partner/ Reseller/ DistributorNAB is one of the three approved lenders for the Australian Government's Defence Home Ownership Assistance Scheme (DHOAS), alongside Defence Bank and Australian Military Bank. The scheme provides home loan interest subsidies to ADF members and veterans. The 10-year agreement with current lenders is expiring, and the government is undergoing a tender process to potentially add more banks to the scheme.
• Australian Military BankcoreChannel Partner/ Reseller/ DistributorAustralian Military Bank is one of three approved lenders for the Defence Home Ownership Assistance Scheme (DHOAS). Like Defence Bank, it provides DHOAS home loans to ADF members. The scheme is undergoing a government tender as the 10-year agreement with current lenders expires.
• Department of Veterans' Affairs (DVA)coreStrategic or Co-development PartnerDVA administers the DHOAS scheme on behalf of the Department of Defence. The scheme provides monthly interest subsidies on home loans for eligible current and former ADF Permanent Force and Reserves members. Approximately 30,000 members currently participate.
• CGU (Insurance Australia Limited)coreChannel Partner/ Reseller/ DistributorCGU provides insurance products distributed through Defence Bank including car, home, landlord, travel, Barrack Room contents, motorcycle, caravan, and boat insurance. Defence Bank acts as distributor under its AFSL. Customers receive up to 15% discount on CGU insurance through the Ultimate Package.
• Navy HealthminorChannel Partner/ Reseller/ DistributorNavy Health provides health insurance products offered through Defence Bank to the Defence community, including ADF members and their families.
• Convera AustraliacoreTechnology or IntegrationConvera provides international payment and foreign exchange services to Defence Bank, enabling telegraphic transfers in over 130 currencies. Defence Bank has a contractual arrangement with Convera for foreign exchange and payment services including inbound international payments in 35+ currencies.
• Lab RescuecoreStrategic or Co-development PartnerLab Rescue rescues and re-homes dogs that are trained by prison inmates to become assistance dogs for veterans with PTSD and other conditions through the Defence Community Dogs program established by the Defence Bank Foundation in 2014.
• Prison inmate training programcoreStrategic or Co-development PartnerInmates are empowered to professionally train rescue dogs as assistance animals for veterans with PTSD, mood, depressive and anxiety disorders. This unique program rehabilitates inmates while producing dogs that help save veterans' lives.
• Cuscal LimitedcoreTechnology or IntegrationCuscal provides payment processing infrastructure for Defence Bank. Its BIC/SWIFT code (CUSCAU2SXXX) is used for international payments routed through the bank. Defence Bank BSB is 803-205.

Scale indicators9 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Commonwealth Bank of Australia: Largest Australian retail bank and one of the competitors Defence Bank faces for mainstream banking share within the Defence community; broader portfolio and scale dwarf Defence Bank but lacks ADF specialisation.

Direct peers

• Heritage Bank: Australian customer-owned bank of similar mid-market scale, competing across home loans, deposits, and insurance with a mutual ownership model analogous to Defence Bank.
• Teachers Mutual Bank: Customer-owned Australian bank serving educators with the same profession-segmented mutual structure, providing a directly comparable blueprint for niche community banking.
• P&N Bank: Western Australia-based customer-owned bank with similar size and product suite, competing in home loans, deposits, and insurance through a mutual model.
• Beyond Bank Australia: Customer-owned Australian bank offering comparable retail and lending products while emphasising community impact — overlapping Defence Bank's mutual-and-purpose-driven positioning.
• Police Bank: Australian mutual bank serving a specific profession (police), operating a near-identical model of segment specialisation, member ownership, and community-aligned branding.
• Australian Military Bank: Australian mutual bank serving the ADF community and one of only three approved DHOAS lenders alongside Defence Bank. Closest direct competitor with near-identical target market, product set, and regulatory positioning.
• People's Choice Credit Union: Large Australian customer-owned bank offering similar retail banking, lending, and insurance products. Comparable mutual structure and member-owned governance model.

Emerging players

• Up (Bendigo and Adelaide Bank): Australian digital-first neobank providing a tech-forward alternative to traditional banks; competes with Defence Bank's award-winning app for digitally-engaged ADF members.

Regional players

• Navy Federal Credit Union: US-based member-owned credit union serving military personnel and veterans — the international archetype for Defence Bank's ADF-focused mutual banking model, though operating in a different geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/DefenceBank
• LinkedInlinkedin.com/company/defence-bank-foundation
• Instagraminstagram.com/defencebank
• Xx.com/DefenceBank

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Defence Bank Foundation