19 March 2025
- Co-ops have expertise in housing, energy and manufacturing
- Regulatory reform would help this $18 billion sector
The head of the co-op and mutuals movement today said the sector stands ready to play an integral role in the NSW Government’s recently released industry policy which focuses on energising key areas of the State’s economy.
Business Council of Co-operatives and Mutuals chief executive Melina Morrison, speaking at a NSW Parliament breakfast event attended by senior government and opposition politicians, said the co-ops sector is ideally positioned to help build a diverse and innovative state economy.
“With 750 co-ops and mutuals in NSW and a combined turnover of $18 billion, there is a huge opportunity for the Government to utilise the sector’s expertise and achieve the targets outlined for the three ‘missions’ of the industry policy paper – namely housing, net zero and energy transition and manufacturing,” said Ms Morrison.
“The structure of co-ops and mutuals is strongly aligned with the Government’s commitment to building a better and fairer NSW with a thriving and diversified economy,” she added. Another key appeal of the sector and its community-first focus was its ability to raise investment capital without the loss of member control through regulated financial securities.
Ms Morrison said co-ops in the mission sectors have impressive track records, with the emphasis on domestic ownership by members who are committed to reinvesting profits in the local economy.
She said this contribution will be greatly assisted if the Government committed to a review of regulations with the aim of making it easier for new co-ops to form across sectors such as housing, energy, manufacturing and social care.
“The last review was in 2012 so the time is right for another reassessment of how co-ops can play a key role in the economic development of NSW. And it would be more than appropriate timing given this is the UN-designated International Year of Cooperatives.”
Ms Morrison said NSW, as the lead state in the implementation of Co-operatives National Law, has direct control of the levers to review and improve regulation of the 600 co-operatives that are registered in NSW.
Outlining the co-op sector’s expertise in the mission areas of the industry policy, she said Common Equity NSW is a federation of more than 30 rental housing co-operatives, providing a secure and affordable form of tenure that should be promoted as part of a diversified housing system. As another example, she said mutual Police Bank and HOPE Housing have developed an innovative shared equity model for bringing home ownership close to where essential workers like police work.
In the energy sector, she noted that the NRMA is spearheading the rollout of electric vehicle infrastructure in NSW while the Goulburn Community Energy Co-operative has NSW Government funding to build a solar farm with an enlarged battery that should encourage other large scale private or public renewable energy projects in regional communities. Elsewhere, Riverina-based Haystacks Solar Garden Co-op provides a vehicle for renters to access the economic benefits of rooftop solar.
In local manufacturing: Ms Morrison said the HunterNet Co-operative is one of Australia’s most successful industry clusters, underpinning the ongoing manufacturing strength of Newcastle. It runs one of the largest group training schemes in Australia, allowing its 140 small, medium and large members to build and retain a pool of skilled manufacturing workers locally. It is active in manufacturing in the energy sector, defence, transport, green steel and others with combined turnover of the network of members of $82 billion.
Co-ops and mutuals in NSW: key statistics
- 750 co-ops and mutuals based in the State with a combined turnover of $18bn.
- 600 of these are registered co-ops with Fair Trading NSW.
- 8 in 10 people in NSW are members of at least one co-op or mutual.
- More than 20,000 SMEs are members (across agriculture, small business purchasing and risk protection)
- 28,000 direct employees.
Top 10 NSW co-ops and mutuals
| Top 10 co-ops and mutuals | Sector | Turnover | Members |
| HCF | Health insurance | $3.9bn | 1,900,000 |
| Teachers Health | Health insurance | $938m | 400,000 |
| The NRMA | Mobility | $826m | 2,900,000 |
| Avant Mutual Group | Insurance | $747m | 85,000 |
| Newcastle Greater Mutual Group | Banking | $732m | 616,000 |
| Norco Co-operative | Agribusiness | $702m | 270 |
| EML | Insurance | $669m | n/a |
| CBHS Health Fund | Health insurance | $546m | 238,000 |
| Independent Liquor Group Co-operative | Wholesale and logistics | $514m | 2,000 |
| Teachers Mutual Bank | Banking | $371m | 234,000 |
Media enquiries
Ian Pemberton P&L Corporate Communications 0402 256 576
About the BCCM
The BCCM is the national peak body for Australia’s $43.2 billion co-operative and mutual sector. Co-ops and mutuals provide essential services and affordable pricing to their members across the economy from banking, insurance and superannuation to retail, agriculture, health, social care and housing. One in eight Australians are members of a co-op or mutual.
More information
- Read a transcript of BCCM CEO Melina Morrison’s speech from the Breakfast
- Read a transcript of NSW Treasurer, the Hon. Daniel Mookhey’s speech
- Read a transcript of the Hon. Anoulack Chanthivong MP’s speech
- Watch the BCCM’s We are Iconic: NSW Co op and Mutual Icons video
- Browse the BCCM and the NRMA Icons Breakfast (NSW) photo gallery on Flickr
- Meet our NSW and Australian icons on the BCCM’s IYC 2025 Australia website
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