Abacus appoints Board
27 July 2006
Abacus – Australian Mutuals, the Association of Building Societies and Credit Unions, today announced the appointment of its Chair and Board of Directors.
John Brogden has been appointed independent Chair of Abacus – Australian Mutuals. He will be joined on the Board by Wayne Morris (IMB), John Arnold (Greater Building Society) and Andrew Saxby (Hume Building Society) representing the mutual building society sector; Tony Ryan (Big Sky Credit Union) and Greg Connor (Savings & Loans) representing Australian credit unions; and John Gilbert (Cuscal) and Rob Nicholls (Credit Union Australia) as appointees of the Cuscal Board.
Abacus was established on 1 July 2006 with 135 member organisations, representing the majority of credit unions and mutual building societies. It was formed in a joint venture by the Credit Union Industry Association[1] (CUIA) and the Australian Association of Permanent Building Societies (AAPBS).
Collectively, mutuals are the biggest players in Australian banking after the big five banks.[2] Credit unions and mutual building societies have 4.5 million members and total assets of almost $50 billion dollars.
Mr Brogden said the Board brings a mix of industry experience, geographical diversity and independence to guide the future direction of the mutual financial services sector in Australia. The Directors have a combined 130 years experience in credit unions and building societies.
Mr Brogden was last week appointed the new CEO at mutual friendly society Manchester Unity, and was previously Leader of the NSW Opposition. He represented the credit union industry as a public affairs executive at Cuscal prior to entering politics in the mid-1990s.
“Chairing Abacus is a wonderfully complementary role to my new position at Manchester Unity,” Mr Brogden said.
“Mutual institutions are all about looking after their members. The profits of credit unions and mutual building societies are directed at improved services and a better deal for members, and not towards the ever-increasing dividends banks are paying their external shareholders.
“I am passionate about working to support a strong mutual financial sector – focused on the communities where they operate and the 4.5 million members they serve – as a vital alternative to banks.”
The Chair was selected by an appointment panel made up of Abacus member representatives. the Directors were appointed as a result of a vote of building society and credit union members. Cuscal representatives were appointed by the Cuscal Board.
The Board will commence work immediately with its first meeting scheduled for August. Full details of the Abacus Directors are attached.
For more information:
Julie Sheather
Senior Adviser – Media & Public Affairs
(02) 8299 9024; (0409) 514 643
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[1] CUIA was a division of Cuscal, the key aggregated services provider to credit unions.
[2] Based on on-balance sheet assets as at December 2005.
Abacus Board of Directors
John Brogden, Independent Chair
John Brogden is the Chief Executive Officer of Manchester Unity, a mutual friendly society providing health insurance, savings bonds and aged care services in Australia. Mr Brogden is a former Leader of the NSW Opposition and Shadow Treasurer. He represented the credit union movement as a public affairs executive at Cuscal prior to entering politics in the mid-1990s.
John Arnold, Director
General Manager, Greater Building Society, Newcastle
John Arnold has been the General Manager of Greater Building Society since 1991. Mr Arnold has almost 40 years experience in financial services, including 32 years working for mutual building societies. He was the Deputy Chair of the Australian Association of Permanent Building Societies (AAPBS) and Chair of its NSW Division prior to the establishment of Abacus.
Greg Connor, Director
Chief Executive Officer, Savings & Loans Credit Union, Adelaide
Greg Connor is the CEO of one of Australia’s largest credit unions. Greg is a Director of the Australian Institute of Credit Union Management, a Director of the Children, Youth and Women’s Health Services, and on the Board of the Australian Institute of Management (Adelaide Chapter). Under Greg’s leadership for the past six years, Savings & Loans has been named Credit Union of the Year on five occasions and achieved silver status on the national Corporate Social Responsibility Index.
John Gilbert, Director
Chief Executive Officer and Director, Cuscal, Sydney
John Gilbert is the CEO and a Director of Cuscal, the leading business-to-business provider of wholesale banking and transactional services to the majority of Australia’s credit unions. Prior to joining Cuscal, John was the CEO of mecu, one of Victoria’s largest credit unions. He has also been the CEO and a director of the Victorian Financial Institutions Commission, the former regulatory and supervisory authority for non-bank financial institutions.
Wayne Morris, Director
Chief Executive Officer, IMB, Wollongong
Wayne Morris has been with IMB Ltd since 1977, and was appointed Chief Executive in February 1999. Wayne serves as a director on the boards of Illawarra Regional Information Service, Merrigong Theatre Co and King Financial Services. He is also chairman of IMB Financial Planning Ltd and former chairman of the Australian Association of Permanent Building Societies. In November 2004 Wayne was named the 2004 Illawarra Business Chamber Business Person of the Year.
Rob Nicholls, Director
Chairman, Cuscal, and Deputy to the Managing Director, Credit Union Australia, Sydney
Rob Nicholls has been a director of Cuscal since 1997, and is Cuscal’s current Chair and a member of the Board’s Governance Committee. Rob was CEO of Australian National Credit Union until its merger with Credit Union Australia (CUA) in 2005, and is now Deputy to the Managing Director of CUA. Rob has been a Director of the World Council of Credit Unions (WOCCU) and a Trustee of the Credit Union Foundation of Australia (CUFA).
Tony Ryan, Director
Chief Executive Officer, Big Sky Credit Union, Melbourne
Tony Ryan has been involved in the credit union industry for over 20 years and is currently the CEO of Big Sky Credit Union in Victoria. Tony was a Director of the former Australian Institute of Credit Union Management, and is a Fellow of the Australasian Credit Union Institute (ACUI). Tony’s previous experience includes executive positions within Victorian Government statutory authorities.
Andrew Saxby, Director
Chief Executive Officer, Hume Building Society, Albury
Andrew Saxby has been Chief Executive Officer and Company Secretary of Hume Building Society Limited since January 2003. Andrew has over 18 years experience in the mutual financial industry including five years as Chief Financial Officer at another mutual building society. Andrew was a Deputy Chairman of AAPBS prior to the establishment of Abacus and is a current member of the Board of Wodonga Regional Health Service.
