New force in regional banking launches

09 August 2016

Last Friday night, Regional Australia Bank celebrated its official launch with a particular focus on all the things that make regional Australia special. The bank was formerly known as The Community Mutual Group.

The launch event was attended by more than 150 people, organisations and media groups including by the BCCM. In her comments, Melina Morrison, CEO, BCCM discussed the relevance of co-operatives to regional areas.  Ms Morrison said that the role of co-operatives and mutuals in the Australian economy is huge with 8 in 10 Australians being members of at least one mutual organisation.

Ms Morrison finished off by saying that Regional Australia Bank is the perfect capital partner for other co-operatives in regional communities.

Other speakers included Adam Marshall MP, NSW State Member for Northern Tablelands; Mark Degotardi, CEO, Customer Owned Banking Association and Regional Australia Bank CEO Kevin Dupé.

In addition to the evening’s entertainment, the bank took the opportunity to reaffirm its commitment to a number of community causes. With more than 5% of Regional Australia Bank’s profits given back to local communities in the form of sponsorships, donations, grass roots community initiatives and small infrastructure projects, the bank’s work with regional communities is all about supporting them to thrive.