29 November 2021
Strong homebuyer demand has spurred growth among mutual banks, building societies, and credit unions over the past year.
According to KPMG Australia’s Mutuals Industry Review 2021, residential lending across the mutual sector increased by 5.1% to $112.4bn during the FY2021.
Overall, the mutual sector managed to record a 38.6% growth in operating profit before tax to $685m and a 7.4% gain in total assets to $148.2bn. …
Business Council of Co-operatives and Mutuals CEO Melina Morrison said the results of the KPMG review underscore the importance of the sector to the national economy.
Latest news
06 December 2024
Melina Morrison on how do we live our co-operative identity?
Melina Morrison on co-operative identity: “we want get this right, we want to improve … We can get better at sharing our identity this is our challenge and...
21 November 2024
Key role for Discretionary Risk Mutuals to protect businesses and communities
Government and regulators are being urged to help facilitate the growth of Discretionary Risk Mutuals (DRM) as part of a diversified risk protection landscape.
28 September 2024
Co-ops can and should be a serious part of Australia’s housing solution
Australasian social and affordable housing consultant Donald Proctor went on a BCCM study tour of European housing co-ops earlier in 2024, and the AHI has shared his...