Co-ops and Mutuals poised to build a more resilient economy for Tasmanians

26 March 2026

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The Business Council of Co-operatives and Mutuals today said it would welcome political support in Tasmania to help expand the sector’s impact across economic areas such as housing, manufacturing, energy, agriculture, small business and social care.

Paul Ransom, CEO Bank of Us, Melina Morrison, CEO BCCM, the Hon Eric Abetz MP, Treasurer of Tasmania, Mark Mugnaioni, Group CEO RACT, and Paul Lupo, CEO St Lukes Health, at the Tasmanian Icons Breakfast.

Speaking at the BCCM and RACT “Icons” breakfast, BCCM chief executive Melina Morrison said the strong track record of Tasmania’s 30 co-ops and mutuals, which turn over a collective $810 million, was a foundation for future growth.

“The economic challenges of recent years such as Covid, trade wars and repeated natural disasters have demonstrated the need to build greater resilience into the Tasmanian economy. Co-ops and mutuals provide vital market diversity and supply chain security,” Ms Morrison said.

“Co-ops and mutuals can deliver on that need provided they have the necessary conditions to reach their potential.

“Built on shared ownership and local trust, co-ops and mutuals are more than just businesses. They are icons of resilience, delivering essential services and keeping prosperity local.

“They spread wealth by focusing on delivering value to their members rather than profits for shareholders. They are always domestically owned, employ local people and pay domestic taxes.”

Melina Morrison, CEO BCCM with the RACT leadership team: Stacey Pennicott, COO RACT, Mark Mugnaioni, Group CEO RACT, Pieter Kolkert, Board Director RACT, Keryn Nylander, President and Chair RACT, Alex McKenzie, Board Director RACT, Tracy Matthews, Board Director RACT, Karla Wasinski, Chief Experience Officer RACT, and Alex Costabile, Board Director RACT.

RACT Chair, Keryn Nylander, said the economic contribution of mutuals and co-operatives was often overlooked.

“The RACT is Tasmania’s largest member organisation, with over 220,000 members, 425 employees across the state,” Ms Nylander said.

“Last financial year RACT generated $214 million in revenue, with all profits staying in Tasmania, going back to our members and the Tasmanian community.

“The reason the mutual model thrives, particularly in a connected community like Tasmania is because the interests of organisations like the RACT and the interests of the Tasmanian community are, at their core, the same.”

The Hon Eric Abetz MP, Treasurer of Tasmania and Minister for Macquarie Point Urban Renewal, delivering his address on the Tasmanian Government’s economic agenda and the contribution of co-operatives and mutuals to a strong and resilient Tasmania.

Tasmanian co-ops and mutuals directly employ more than 1100 workers and facilitate the operations of thousands of small, medium and family-sized businesses across a range of industry sectors.

Helen Galloway, Chair of Bank of Us, with Melina Morrison, CEO BCCM, Keryn Nylander, President and Chair RACT, and Mel Lukianenko, Chair of St Lukes Health, at the Tasmanian Icons Breakfast.

Among the state’s biggest mutuals are RACT, health insurer St Lukes Health and Bank of Us, Tasmania’s only member owned bank. Co-operatives operating in agriculture, housing and retail sectors were providing an important competition dynamic and consumer choice in tightly held markets.

Ms Morrison said the sector would benefit from government support to simplify regulations, making it easier for new co-ops and mutuals to be established and ensure the expansion of existing ones.

Guests received the printed Tasmania Icons timeline at the breakfast, a keepsake charting more than 150 years of Tasmanian co‑operative and mutual history.

The BCCM’s requests to government include:

• The creation of a co-ops and mutuals policy unit to sit within a core industry or economic department as a means of helping to build policy expertise to support sector growth.
• The appointment of a Minister in charge of co-ops and mutuals.
• A business development plan for Tasmanian co-ops and mutuals to support regional communities through the growth of established and new co-operatives and mutuals in agriculture, small business, care, housing, community retail and energy
• The establishment of a single national regulator for co-ops.

View the full image gallery from the breakfast.