ABACUS - Australian Mutuals

Abacus – Australian Mutuals is the industry association for 133 credit unions and mutual building societies.

Credit unions and mutual building societies offer a different kind of banking - one that puts you first. Better service, fairer fees and a community focus is what makes us different, and anyone can join. Operating throughout Australia, you can find a nearby credit union or mutual building society here.

Credit unions and mutual building societies are owned by Australians, have over 4.5 million customers and over $65 billion in assets.

Credit unions and mutual building societies are strong and secure. We are Authorised Deposit-taking Institutions (ADIs) under the Banking Act, regulated by APRA. As mutuals, we are owned by our members and focus on member benefit in our services and pricing.

Credit unions and mutual building societies are highly capitalised and responsible lenders. The new Government Deposit Guarantee applies to all deposits with credit unions and building societies, along with banks. To learn more, download our fact sheet. For information on the Deposit Guarantee, click here.

Abacus also represents friendly societies, who provide important savings and investment products to help Australians to become financially independent and to plan for life events.

To find out more, go to:

>> credit unions; building societies; or friendly societies.

>> The draft Mutual Banking Code of Practice.