18 September 2025
On Thursday, 18 September 2025, David Carter, CEO RACQ, addressed policymakers, business leaders, and co-operative champions at the Great Southern Bank and RACQ – BCCM Icons Breakfast at Queensland Parliament.
Read his speech
Thank you Melina, and good morning Ladies and Gentlemen.
I too acknowledge the Traditional Custodians of the land on which we gather today and pay my respects to their Elders past, present and emerging.
I would also like to acknowledge the Honourable David Janetzki, Treasurer, Minister for Energy and Minister for Home Ownership. It is also great to see him joined this morning by many other Parliamentarians who Melina acknowledged.
It’s a pleasure to be here at the BCCM Icons Breakfast, thank you to the Business Council of Co-operatives and Mutuals for hosting us at Parliament House.
This year marks a major milestone for RACQ: 100 years of roadside assistance and 120 years since our founding.
It’s a century of Queenslanders helping Queenslanders, a journey of service, advocacy and community impact.
And how fitting that 2025 is also the International Year of Cooperatives, with the theme “Co-operatives Build a Better World.”
That’s exactly what RACQ has been doing.
We began in 1905 when a group of motoring enthusiasts formed a club to advocate for better roads and safer driving conditions – long before governments took up the cause.
They installed road signs, lobbied for speed limits, and in 1925 launched our first roadside patrols.
It wasn’t about profit, it was about service, trust, confidence and giving back to Queenslanders.
Today, that little club has grown to be Queensland’s largest Club serving more than 1.7 million members right across this great state.
We’ve grown into a diversified mutual offering roadside assistance, insurance, banking, and solar energy.
And while we need to make a profit, we are not driven by shareholder returns, we are a profit-for-purpose organisation
Our proceeds are reinvested back into innovating our products, services and systems with the aim of better serving our members . . . and then we invest in, and advocate for the communities where we live and work.
But like all organisations, to remain true to our purpose, to drive a positive future for all Queenslanders, we must drive growth and evolve to remain relevant.
For RACQ, it’s important to honour our heritage, but we are embracing the opportunity to change to ensure we are there for Queenslanders for the next 100 years.
Our long-term ambition is to transform into a modern mutual that delivers more value and more consistently to the member and communities we support. This is founded on being purpose-led, professionally governed and commercially disciplined.
The recent transition of our insurance product business to IAG, and the commencement of our 25-year partnership is a key enabler of this evolution.
This partnership marks a new era in how we support Queenslanders with their insurance needs. By transitioning our insurance product and claims management business to IAG, we’re leveraging their scale and technology while we focus on the marketing and distribution, continuing to offer insurance under our trusted brand.
Our insurance business was profitable and growing, but we made the decision to change our business model because we believe this is the best outcome for our members. When it comes to natural disasters Queensland is the most exposed state in Australia, and we concluded that access to affordable insurance products in the longer term was going to need the diversification and scale of IAG to deliver.
Importantly, this decision also reduces our exposure to the volatility which comes with running an end-to-end insurance business.
What’s great about this is that a portion of the proceeds of the IAG transaction are being directed to scale the important work we do in communities – which is really at the heart of what it means to be mutual.
During the year, we were proud to provide over $6.4 million in funding to Queensland community groups, charities and disaster relief.
When the North Queensland floods and Cyclone Alfred hit, we delivered emergency supplies, funded local recovery efforts and provided a $1 million community support package.
We also invested in long-term resilience through a string of partnerships such as the Council-to-Council program run by the LGAQ which enables smaller councils across the state to learn from, and benefit from the capabilities of larger councils.
Our road safety education program reached over 58,000 Queenslanders, and we expanded programs like the ARTIE learner driver initiative for Aboriginal and Torres Strait Islander students.
Importantly, one of our greatest strengths as a mutual is advocacy – using our voice for the public good.
Without a doubt, 2025 has been a landmark year for RACQ’s advocacy.
When a federal funding cut threatened upgrades to the Bruce Highway (the lifeblood road from Brisbane to Cairns), we convened an unprecedented coalition of partners – the Queensland Trucking Association, farmers, local councils, the College of Surgeons, the Tourism Industry Council, and more. Together, we made the case loud and clear in the media and in Canberra.
And we must acknowledge the leadership shown by the Queensland Government on both sides of politics for the way in which we have rallied together to pressure the Federal Government, culminating in what will be a landmark outcome for our most important highway.
The result, a $9 billion commitment to upgrade the Bruce Highway — one of the largest road safety investments in Queensland’s history.
We continue to push for fairer fuel pricing and supported initiatives like the cyclone reinsurance pool and tougher penalties for dangerous driving. We supported 50c fares on public transport and are vocal supporters of the Brisbane Metro and improved bus services. We look forward to working with all levels of government to make public transport more accessible to everyone.
As a mutual, our advocacy is driven by community need, not shareholder returns.
Because that is what mutuals do, we advocate for improvements to make our society better, and we partner with government, and other organisations to make this happen.
Mutuals and co-operatives are vital contributors to Queensland’s future. There are 190 co-ops and mutuals in our state, employing over 11,000 people and serving 2.7 million members — more than half the population. Nationally, the sector contributes over $184 billion in annual turnover.
To our Queensland Members of Parliament here today: mutuals are your natural allies.
We share the goal of a thriving, fair Queensland. We bring some unique strengths to the policy table. For one, we have deep trust and engagement in the communities you represent.
When RACQ or another mutual speaks up on a local issue, people know it’s motivated by community interest, not by the bottom line.
That trust is an invaluable asset in implementing policy solutions on the ground. Also, mutuals reinvest profits locally and operate for the long haul, which aligns well with government’s public interest aims.
Include us at the policy table, we’re ready to help deliver solutions in housing, energy, transport and more.
To my peers in the mutual sector: let’s be bold. We are not just alternatives to the mainstream, we are a vital pillar of Queensland’s economy and society.
Let’s innovate, collaborate and share our successes. Let’s continue to lead with purpose and impact.
Before I close, it’s my pleasure to introduce someone who truly understands the mutual spirit.
The Honourable David Janetzki MP, Treasurer of Queensland, is not only a distinguished elected official, he’s also a proud Toowoomba local who worked at the then Heritage Bank now People First Bank, one of Australia’s great mutuals.
His background gives him a deep appreciation for member-owned businesses and their role in building resilient communities.
As Treasurer, David has championed home ownership, regional development and energy security, all aligned with mutual values.
We’re honoured to have him as our keynote speaker today.
Please join me in welcoming the Treasurer of Queensland, the Hon. David Janetzki MP, to the stage.
Thank you.
More information
- Read Co-ops and mutuals poised to help grow Queensland’s economy
- Read RACQ CEO David Carter’s speech
- Read Great Southern Bank Paul Lewis’ speech
- Read Queensland co-ops plan for growth under state’s social impact agenda, Co-op News
- Watch the BCCM’s We are Iconic: Qld Co op and Mutual Icons video
- Meet our Qld and Australian icons on the BCCM’s IYC 2025 Australia website
- Browse the Great Southern Bank and RACQ – BCCM Icons Breakfast (Qld) photo gallery on Flickr
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