Credit Union, Building Society market leaders recognised
10 October 2007
Australia’s credit unions and mutual building societies today celebrated market leadership by the mutual banking sector in new ideas, sustainable futures and community ties.
Credit unions and building societies have recognised Australian Central Credit Union, Community First Credit Union and mecu for innovation, community service and sustainability at the 2007 Abacus Convention in Brisbane today.
“Credit unions and mutual building societies are true innovators, with a real focus on communities and members,” said John Brogden, Chair of the industry body Abacus. “These awards are another example of mutuals leading the banks in areas that really matter to communities,” said Mr Brogden.
Abacus chairman John Brogden said choosing the 2007 winners was a challenge given the range of activities across the mutual banking sector.
Community First, based in Sydney, is the Innovator of the Year with new ideas such as “Lisa” – a new online concierge bringing a personal face to internet banking, and doubling visits to the credit union’s website since her “launch”. Community First’s new concept stores are introducing new approaches to retail banking.
Victorian credit union mecu receives the Sustainability honour. mecu has been recognised as one of the world’s top 50 companies in sustainability reporting, and has covenants in place with the Victorian Government and the UN. With programs like “Land Bank” (building a carbon sink and fostering biodiversity), “green” loans with rewards for environmentally-friendly car use and home design, and a carbon-neutral commitment, mecu is setting the standard for sustainability in banking.
Australian Central, Adelaide’s largest credit union, has been awarded the Community Service award for its community lottery. This program has raised almost $4 million for community groups, with all proceeds raised going to participating organisations. The credit union program supports over 300 not-for-profit groups in SA and the Northern Territory, well beyond the traditional “major sponsorship” model.
“Our annual awards are an important acknowledgment and celebration of excellence in the mutual sector – credit unions and mutual building societies,” said Mr Brogden.
“Our 2007 winners are smart, resourceful and resilient – mutuals making a real difference to their members and market across the country.”
For more information:
Paul Murton, Media Relations Manager
0434 185 229;
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