Re-evaluating our purpose: Melina Morrison Addresses the AOA Seminar in Seoul, South Korea

17 November 2025

At the recent Asia and Oceania Association (AOA) of ICMIF Seminar, Business Council of Co-operatives and Mutuals (BCCM) CEO Melina Morrison delivered a powerful address exploring the enduring purpose and future potential of co-operatives and mutuals. Speaking to delegates across the region, Morrison highlighted the unique strengths of member-owned business models and their critical relevance in today’s rapidly shifting global environment.

Morrison opened by acknowledging the significance of the occasion, noting that it marked the first time Australian co-operative representatives had been invited to speak at the AOA Seminar. “As members of the world’s largest movement of independent, democratically owned enterprises,” she said, “these bilateral conversations strengthen our shared identity, our ‘genetic code’– as co-operatives and mutuals.”

A shared identity rooted in principles

Despite cultural differences and varying regulatory landscapes, Morrison highlighted that co-operative and mutual enterprises (CMEs) are united by a universal identity shaped by shared principles and values. This identity, she said, serves as a foundation for ongoing collaboration, enabling co-operatives around the world to collectively address modern challenges.

The seminar’s theme, re-evaluating organisational purpose to ensure continued benefit to members, was one Morrison strongly endorsed. She emphasised the importance of regularly “renewing our co-operative vows,” ensuring that co-ops remain loyal to their foundational purpose while adapting to evolving economic and social contexts.

A global movement stepping into its moment

With 2025 declared the second United Nations International Year of Cooperatives, Morrison noted that the global spotlight is once again turning toward the sector. This recognition underscores the indispensable role CMEs play in addressing social needs, environmental pressures and global inequality.

Quoting former UN Secretary-General Ban Ki-moon, she reminded delegates: “Co-operatives are a reminder that it is possible to pursue commercial success and social responsibility.”

The numbers speak for themselves. Worldwide, more than 3 million co-operatives serve over 1 billion members and generate nearly USD 3 trillion in turnover. Mutual insurers alone contribute almost USD 240 billion in premium income. In Australia, eight in 10 people are members of a co-operative and mutual, relying on them for essential services – from banking and insurance to housing, health, education and food security.

Co-operatives: A model born from human resilience

Reflecting on the history of the co-operative movement, Morrison described co-ops as a product of human resilience – structures forged in response to adversity, inequality and crisis. From Raiffeisen’s credit union model combating rural poverty to modern CMEs addressing market failure, co-operatives have consistently emerged when communities need them most.

“Our constitutional structure is our DNA,” she said. “When we remain true to our principles and values, our model allows us to grow and scale without compromising our purpose.”

This is why advocacy for enabling legislation remains crucial. Morrison emphasised that supportive legal frameworks and proportionate regulation are essential to allow mutuals and co-operatives to thrive.

Mutual aid, market stability, and long-term value

One of the most profound contributions of CMEs, Morrison noted, is their role in risk protection and insurance. Mutual models are built on the principle of pooling risk, not just for neighbours but for strangers, creating safety nets essential to economic participation. This act of mutual aid, she said, is both rational and deeply human.

Co-operatives balance markets by offering fair pricing, reducing concentration and prioritising long-term member benefit over short-term shareholder returns. Unlike investor-owned firms, they are not burdened by competing interests. Their “member performance indicators” (MPIs), rather than KPIs, drive innovation and allow them to be both agile and purpose-driven.

“Member ownership is our competitive advantage,” Morrison said. “It creates a mutually beneficial cycle of value creation.”

Bold growth and global momentum

Turning to the future, Morrison argued that co-operatives are more relevant now than ever. In an era marked by environmental crises, geopolitical conflict and economic volatility, CMEs offer trust, stability and resilience.

She pointed to transformative developments in the UK, where major financial institutions – including Virgin Money, have recently been remutualised, returning ownership to members. These bold moves were made possible through more enabling legislation and government support for mutuals.

Governments, Morrison noted, increasingly recognise the value of co-operatives in creating fairer markets and delivering services where traditional models fall short. The UK Government, for example, has set an ambition to double the size of its co-operative and mutual economy.

At the global level, the International Co-operative Alliance (ICA) has recently committed to a “Contract for a New Global Economy,” placing co-operatives at the heart of a more equitable and sustainable world.

Re-evaluating our purpose: The BCCM’s commitment

As the BCCM approaches its second decade, coinciding with the 2025 International Year of Cooperatives – Morrison said the organisation is also re-examining its purpose.

The core questions:

• Why do we exist?
• Who do we serve?
• What do we stand for?

She emphasised that co-operatives must tell their stories better. While the sector’s reach is vast, serving 12% of humanity – its impact is best understood through real-world examples. During the pandemic, co-operatives “bailed in” their reserves to protect members, employees and communities – behaviour rooted not in policy mandates but in co-operative DNA.

To better measure and communicate this value, the BCCM developed the Mutual Value Measurement (MVM) framework, now used globally to quantify the total value created by CMEs.

Purpose, modernisation and a just transition

Morrison acknowledged that while a co-operative’s foundational purpose does not change, its focus must evolve in response to external pressures, from climate risk to social inequity. Insurance, for example, must adapt to emerging global risks, and CMEs may increasingly choose to advocate for a just transition to a greener economy.

“The opportunity before us is tangible,” Morrison said. “Let us commit to telling our stories, to knowledge exchange and to good growth.”

Looking ahead to IYC 2025

In closing, Morrison thanked the AOA and seminar delegates for the opportunity to speak and expressed her enthusiasm for the sector’s future. She invited participants to view BCCM’s new social media campaign for the 2025 International Year of Cooperatives, featuring messages from CEO leaders including Rohan Mead of Australian Unity.

“Our time is now,” she concluded. “As trusted, stable, well-capitalised institutions, we must have a bold vision for the future. Let us grow, and let us grow with purpose.”