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Bank of the Year 2010

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Commonwealth Bank of Australia has taken out Money magazine's prestigious Bank of the Year 2010 award.

The bank was highly commended in virtually every category and was singled out for offering attractive rates on savings accounts.

Nab came second, while Westpac rounded out the top three.

RAMS Home Loans was named best non-bank lender for the second year in a row with Homestar Finance and Collins Home Loans taking second and third spot respectively.

Bank of the year 2010

NAB scored the award for Credit Card Issuer of the Year, while Budget Direct was named Insurer of the Year.

"For the past six years the June issue of Money has played host to the Consumer Finance Awards," says Money editor Effie Zahos.

"This year is no exception and we hope it serves as a timely reminder to all Money readers to ask themselves: where does my bank, building society or credit union rank?"

Bank of the Year: CBA

Credit Union of the Year: Community Alliance CU

Building Society of the Year: IMB Limited

Socially Responsible Bank: NAB

Insurer of the Year: Budget Direct

Home Lender of the Year: ANZ

Credit Card Issuer of the Year: NAB

Non-Bank Lender of the Year: RAMS Home Loans

Personal Lender of the Year: Holiday Coast Credit Union

Money Minder of the Year: CBA

Banking Website of the Year: St George/BankSA

Margin Lender of the Year: CommSec

Business Bank of the Year: Westpac

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