Another "stamp" of approval for mutual banking
15 February 2012
Australian mutuals today received a stamp of approval with the launch of a commemorative stamp recognising 2012 as the United Nations International Year of Co-operatives.
Dame Pauline Green, President of the International Co-operative Alliance, today unveiled the Australia Post stamp series in Melbourne. The contribution of credit unions, building societies and mutual banks has been recognised along with other cooperative models that have helped build Australia's economy.
"Australia Post's series is welcome recognition for a model that has proven secure, competitive, and relevant to the Australia of 2012," said Ms Petschler, Abacus CEO.
"We are honoured to have Dame Pauline Green taking time from her international schedule to support the alternative our customer-owned banking groups deliver every day."
The 2012 Australia Post series will feature mutual banking organisations, with other forms of cooperative enterprises. This includes Fitzroy and Carlton Community Credit Co-op and Community Mutual Group. Fitzroy & Carlton is a Melbourne based credit union built from a Brother of St Laurence program which specifically works to assist people on low incomes. Community Mutual Group is a regionally based credit union with over 70,000 members in the New England, North West and Hunter areas of NSW.
The UN has designated 2012 as the International Year of Cooperatives to raise awareness of the critical role of co‐operatives in creating jobs, supporting enterprise and strengthening communities across the globe. The UN's theme is "Co-operatives Build a Better World".
"A recent UK study reported three times as many owners of cooperatives like credit unions than there are individual shareholders around the world," said Ms Petschler.
"In Australia, cooperatives and mutuals work in all areas of the economy, from banking to technology to agriculture, delivering competition through socially responsible business."
The 2012 International Year stamps are available at local Australia Post outlets from today.
To learn more about the Year of the Co-operatives, see www.australia2012.coop
To learn more about mutual banking in Australia, see www.abacus.org.au
For more information, please contact:
Daniel McDougall, Senior Adviser – Media
02 8299 9024; 0407 637 541;
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