Tag: mutual

RACQ bank launch shows way forward for competition: BCCM

RACQ bank launch shows way forward for competition: BCCM

By on September 25, 2017 in Editor's Pick, Media Releases with 0 Comments

The creation of an innovative full-service bank spun out of the RACQ shows the way forward to greater competition for the banking sector, says the CEO of the Business Council of Co-ops and Mutuals, Melina Morrison. “It shows what Australians can do with the mutual model when they have access to capital,” says Ms Morrison. […]




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Strong CUA profit supports increased community investment

Strong CUA profit supports increased community investment

By on September 15, 2016 in Editor's Pick, News with 0 Comments

Australia’s largest member-owned financial services provider CUA is aiming to materially lift its investment in communities over the next few years to up to 3 per cent of Net Profit before Tax and Community (NPBTC), after delivering a strong full-year financial result. CUA, a BCCM member, posted an annual consolidated Net Profit after Tax (NPAT) […]




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Survey says more households are reporting debt stress

Survey says more households are reporting debt stress

By on August 1, 2016 in Editor's Pick, News with 0 Comments

Research by ME Bank, a BCCM member, has shown there to be a twofold increase since December last year of the numbers of households who say they will struggle to meet their minimum debt repayments in the coming year. The bank’s biannual Household Financial Comfort Report also showed 10 per cent of indebted households are reporting debt stress, which […]




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Rabobank Australia and NZ records consistent profit growth

Rabobank Australia and NZ records consistent profit growth

By on May 3, 2016 in Editor's Pick, News with 0 Comments

For the sixth consecutive year, Rabobank Australia & New Zealand Group (RANZG) has recorded profit growth, posting a net profit after tax (NPAT) of A$277.8 million for 2015.  This represented an increase of 5.8 per cent ($15.3 million) on the previous year.  RANZG Group managing director Thos Gieskes said the 2015 results reflected a solid performance […]




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Senate recommends level playing field for co-ops and mutuals

Senate recommends level playing field for co-ops and mutuals

By on March 16, 2016 in Editor's Pick, Media Releases, News with 0 Comments

Co-operative leaders join with Dr John Hewson and Senators Chris Ketter, Bridget McKenzie, Nick Xenophon to celebrate the day of the inquiry hand-down. On 17 March, the Senate’s Economics References Committee handed-down their report into their examination into the role, importance, and overall performance of co-operative, mutual and member-owned firms, which has received strong industry endorsement as a […]




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Teachers Mutual Bank plan merger with NSW credit union

Teachers Mutual Bank plan merger with NSW credit union

By on March 7, 2016 in Editor's Pick, News with 0 Comments

Teachers Mutual Bank (TMB) have announced plans to merge with Fire Brigades Employees’ Credit Union (FBECU), a New South Wales based credit union that services the firefighting community in the state. Fire Brigades Employees’ Credit Union was established in 1968, and has over 7,400 members and $215 million in assets. Teachers Mutual Bank and Fire […]




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Customer owned banks rated highly for personal loans

Customer owned banks rated highly for personal loans

By on November 20, 2015 in Editor's Pick, News with 0 Comments

A report on personal loans has found 37 out of 38 of the best personal and car loans are from customer owned institutions. The 2015 Star Ratings Report by Canstar, which researched 290 products from 78 lenders, showed the customer owned banks dominated the list highlighting the considerable value and choice these financial institutions give Australians across the […]




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Equality within CMEs recognised by WGEA

Equality within CMEs recognised by WGEA

By on November 11, 2015 in Editor's Pick, News with 0 Comments

Teachers Mutual Bank, a BCCM member, have been announced as an Employer of Choice for Gender Equality by the Workplace Gender Equality Agency. TMB were among ninety diverse organisations nationwide who received the citation from the WGEA, which recognises employer commitment and best practice in promoting gender equality in Australian workplaces. The citation recognises the ‘commitment […]




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Competition deficit can be answered by co-operative and mutual sector

Competition deficit can be answered by co-operative and mutual sector

By on November 10, 2015 in Editor's Pick, Media Releases, News with 0 Comments

A report released today by the Business Council of Co-operatives and Mutuals (BCCM) has shown that the Top 100 co-operative and mutual enterprises (CMEs) in Australia have grown their combined annual turnover by 14% ($27.9 billion for the FY2013/14) and have added important competition to the economy. The research, conducted by the University of Western […]




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CMEs potential heard at Senate public hearings

CMEs potential heard at Senate public hearings

By on November 5, 2015 in Editor's Pick, News with 0 Comments

A lack of diversity and competition is holding back Australia’s economy while one of the solutions, co-operatives and mutuals, remains largely “invisible”, a Senate inquiry has heard. The Senate Economics Reference Committee established an inquiry into co-operatives, mutual and member-owned firms to explore the barriers facing the sector, as well as its potential to deliver […]




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