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Cairns Penny has a mutual ownership structure – we are owned by our customers. When you open an account with us you become a member giving you the right to vote at our general meetings. Unlike many companies, each of our shareholders has an equal voting power at our general meetings – we are not dominated by big shareholders. This unique structure provides us with the ability to focus on providing services to locals.

Our directors who live and work locally too, make decisions based on what is best for our customers.

Our History

Having recognised that Cairns was in need of a bank to genuinely serve the needs of everyday people, Cairns Penny was established by a prominent group of local businessmen in 1899 on a trestle table in the School of Arts. Cairns Penny has since grown, yet, despite banks having gained a global reputation for being impersonal and greedy, Cairns Penny has always been true to its traditional values with their major focus remaining on customer service. As well as being a renowned and respected local bank, the name ‘Cairns Penny’ is steeped in history. Before we had dollars and cents, our Australian currency consisted of pounds, shillings and pence. The penny, featuring the Kangaroo, has been around since 1938 and was used as part of the name because the bank’s founders always said; ‘Take care of the pennies and the pounds will take care of themselves.’

We love talking about Cairns Penny’s history – come and see us if you want to know more or see the fantastic collection of pennies.



Click on the links below to view the .pdf files

Focus on fraud – helpful information to avoid scammers

Focus on fraud February 2017

December 2015 Newsletter

Newsletter June 2015

Newsletter December 2014

Newsletter June 2014




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