A new charitable foundation, the Australian Mutuals Foundation (AMF), has been launched by Australian credit unions to help children and youth in Australia and Asia.
It will focus on providing assistance to Australian children at risk of abuse or neglect, or who facing disadvantage in terms of housing, medical care or education through the Barnardos’ Reconnect Program.
The manager of AMF, Brian Bennett, said the foundation would also assist remote and disadvantaged communities in impoverished South East Asian and South Pacific countries to help alleviate poverty through the creation of sustainable financial co-operatives.
All members of credit unions and mutuals will be able to donate to AMF.
As a registered charity, it will be able to receive donations from corporate or individual donors.
Select Encompass Credit Union has provided an initial donation of $175,000 to kickstart AMF.