Tag: mutuals

Bipartisan support for Parliamentary Friends of Mutuals and Co-Ops a win for regional Australia

Bipartisan support for Parliamentary Friends of Mutuals and Co-Ops a win for regional Australia

By on June 22, 2017 in Editor's Pick, Media Releases with 0 Comments

Co-chairs of the new Parliamentary Friends of Mutuals and Co-ops, Nationals Senator Bridget McKenzie and the ALP’s Dr Andrew Leigh said the new group underlined the importance of the bodies to the nation. The bipartisan duo were speaking at the launch of the new Parliamentary Friends Group on Tuesday, this week. “All sides of politics […]




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Parliamentary Friends of Mutuals and Co-ops launches

Parliamentary Friends of Mutuals and Co-ops launches

By on June 14, 2017 in Editor's Pick, Media Releases, News with 0 Comments

MPs and Senators will tonight (13 June) join the heads of some of the nation’s biggest enterprises to celebrate the launch of Parliamentary Friends of Mutuals Co-ops – the backbone of the nation’s local communities. The CEO of the Business Council of Co-operatives and Mutuals (BCCM) Melina Morrison said it was heartening politicians recognised the […]




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‘Co-op’ Banks Welcome Fraser’s Remarks on Levy, Call on Consumers to Consider Their Options

‘Co-op’ Banks Welcome Fraser’s Remarks on Levy, Call on Consumers to Consider Their Options

By on May 30, 2017 in Media Releases with 0 Comments

The Business Council of Co-operatives and Mutuals today welcomed Treasury Secretary John Fraser’s assessment that banks would not be forced to raise mortgage rates in order to pass on the ‘trivial’ impact of the federal Government’s levy. “His statements contradict the banks’ position, that they would be forced to pass on the levy to consumers […]




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Parliamentary Friends of Mutuals and Co-operatives announced

Parliamentary Friends of Mutuals and Co-operatives announced

By on April 13, 2017 in Editor's Pick with 0 Comments

A new Parliamentary Friendship group for Mutuals and Co-operatives has been announced. Melina Morrison, CEO of the Business Council of Co-operatives and Mutuals (BCCM), said that “it’s great that Senator Bridget McKenzie and Andrew Leigh MP will co-chair the friendship group. This bi-partisan chairing arrangement highlights the importance of co-operatives and mutuals to the Australian […]




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Access to capital is a mutual objective

Access to capital is a mutual objective

By on March 17, 2017 in Editor's Pick with 0 Comments

The BCCM reports strong progress on advocating for key reforms to the Corporations Act to allow Australian mutuals to raise working capital to fund growth and development. On 9 March 2017 the BCCM held a roundtable with Martin Stewart, Director of Banks, Building Societies and Credit Unions at the Bank of England’s Prudential Regulation Authority. […]




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RACQ announces purchase of 50% stake in TicketMates

RACQ announces purchase of 50% stake in TicketMates

By on February 2, 2017 in Editor's Pick, News with 0 Comments

RACQ, a BCCM member, has taken a 50% share in TicketMates, one of Queensland’s largest entertainment ticket retailers. RACQ Group CEO Ian Gillespie explained that the purchase was part of an ongoing diversification strategy to bring more benefits to members of the mutual. RACQ is already Australia’s largest reseller of movie tickets. Members of the […]




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Fair and strong: customer-owned banking

Fair and strong: customer-owned banking

By on October 5, 2016 in Editor's Pick, News with 0 Comments

Australian mutual institutions collectively make up a $98.7 billion sector that represents the “fifth pillar” of banking in Australia – the fifth largest holder of household savings deposits in Australia. And with more than 4 million members already, this sector sees growth of 6.6% per year. Apparently, more Aussie families are taking out home loans […]




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Opinion: Do yourself a favour #switchnotbitch

Opinion: Do yourself a favour #switchnotbitch

By on October 5, 2016 in Editor's Pick, News with 0 Comments

Customer owned banks (credit unions, building societies, mutual banks) do not have shareholders. They have members. To be fair, the issue of how an interest rate cut flows to mortgage rates is not as simple as just passing it on. The size of the bank, the cost of capital to the bank, current profitability; all […]




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2016 Federal Election: Co-operative policy for a more resilient economy

2016 Federal Election: Co-operative policy for a more resilient economy

By on May 23, 2016 in Editor's Pick, Media Releases, News with 0 Comments

Going into the election, the Business Council of Co-operatives and Mutuals is commending a few policy changes to all political parties. The concerns addressed here are shared by all parties and the solutions would lead to a stronger, more resilient Australian economy. In short, they are: Wind back red tape to allow start-up businesses, where […]




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Budget lays the foundations for quality jobs and sustainable growth beyond human resources

Budget lays the foundations for quality jobs and sustainable growth beyond human resources

By on May 4, 2016 in Editor's Pick, Media Releases, News with 0 Comments

The Business Council of Co-operatives and Mutuals welcomes the measures announced in the 2016 Federal Budget to support employee share schemes, self-employment, and entrepreneurship among youth. “In today’s gig economy, we are setting people up for repeated joblessness unless they are able to take greater control over their place in the workforce, by becoming co-invested, financially […]




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