HomeView 2008 Media Releases

2008 Media Release Archives

Avoid the Christmas Hangover in January and 'Take Control' of Your Finances

23 December 2008

Abacus – Australian Mutuals, the industry body for credit unions, building societies and friendly societies, has launched its new series of “Take Control” financial literacy booklets. The six booklets cover topics like how to use credit, buying property, saving and budgeting, buying a car, investing and protecting your assets.

Joint Media Release - ATM industry meet with NSW Police Force

23 December 2008

Representatives from the NSW Police Force, Australian banks, building societies, credit unions, independent deployers of ATMs and the cash-in-transit industry have this morning met in Sydney to discuss the recent spate of ATM attacks.

Abacus backs call for better credit reporting

27 November 2008

An influential Parliamentary Committee has today called on the Federal Government to implement more comprehensive credit reporting.

Traditional Credit Union wins diversity awards

14 November 2008

Darwin-based Traditional Credit Union (TCU) has won two categories at the national Diversity@Work Awards presented last night in Melbourne by Sir Bob Geldof.

Credit Unions Increase their Branches - Win for Consumers

13 November 2008

Credit unions and mutual building societies are expanding their branch network and are well positioned to fill the gap left by big banks swallowing up regional banks such as St George and BankWest.

Building Societies & Credit Unions: KPMG hails “Strong” Result

11 November 2008

Building societies and credit unions produced a "strong" profit result in 2007-08, according to KPMG's annual survey.

Member-owned” Banking Puts Out the Welcome Mat

03 November 2008

Customers unhappy with the big banks are being urged to take advantage of new Government rules to help them move banking institutions and experience a real competitive alternative: member-owned banking.

Switch to Customer-owned Banking

31 October 2008

Consumers will be winners from new account switching arrangements applying across the retail banking sector from tomorrow.

Credit unions, building societies to review details of deposit guarantee scheme

27 October 2008

Credit unions and mutual building societies have welcomed the move by the Government today to continue its guarantee of credit union, bank and building society retail deposits.

NT Treasurer opens credit union, building society convention

19 October 2008

Tomorrow, Monday October 20th, the Treasurer of the Northern Territory, the Hon Delia Lawrie MLA, will officially open the 2008 Abacus Convention in Darwin and welcome almost 1000 delegates from Australia’s credit unions, mutual building societies and friendly societies to Darwin.

Abacus exposes “extreme” taxation of deposits

16 October 2008

Independent research commissioned by credit unions and mutual building societies makes a powerful case to ease the taxation of interest earnings on deposits.

International Credit Union Day October 16th

15 October 2008

Credit Unions all over the world will celebrate International Credit Union Day tomorrow, on October 16th. Worldwide Credit Union membership has grown to 177 million along with asset growth of 8.2% over the previous year, to over US$1.2 trillion.

Credit Unions, Building Societies Welcome Deposit Guarantee Legislation

15 October 2008

Credit unions and mutual building societies welcome the introduction today of legislation to implement the Government’s 100 per cent guarantee of all deposits in credit unions, building societies and banks.

Credit Unions and Building Societies Welcome Government Deposit Guarantee

12 October 2008

Credit unions and mutual building societies welcomed today’s decision by the Government to guarantee deposits with all of Australia’s credit unions, banks and building societies.

Railways Credit Union Wins Customer Service Excellence Award

10 October 2008

Abacus – Australian Mutuals congratulates Railways Credit Union on its achievement as Queensland winner in the Customer Service Institute of Australia’s Service Excellence Awards for 2008.

Credit Unions, Building Societies welcome rate cut: relief for borrowers

07 October 2008

Australia’s mutual banking sector, which collectively serves more than 4.5 million members nation-wide, has today welcomed the RBA’s move to reduce interest rates by 1%.

Credit Unions, Building Societies Welcome Moves on Predatory Lending

02 October 2008

Credit unions and mutual building societies have welcomed the Federal Government’s move to take control of credit regulation, including cracking down on predatory lending.

Credit Unions, Building Societies have no exposure to toxic US loans

30 September 2008

Credit unions and building societies are strong and stable banking institutions and a safe haven from international market upheaval, said Abacus, the industry body for mutuals today.

Mutual ADIs strong and stable

26 September 2008

The financial strength and stability of credit unions and building societies is demonstrated in the Reserve Bank’s latest Financial Stability Review.

Credit unions lead market on interest rates

12 September 2008

Australia’s credit unions continue to lead the way on lower home loan interest rates, according to Abacus – Australian Mutuals, the national industry body for credit unions, mutual building societies and friendly societies.

Rate relief means even better deal from credit unions and building societies

02 September 2008

Australia’s credit unions and mutual building societies look set to deliver even better deals to borrowers after today’s RBA rate reduction.

Abacus member wins national governance award

29 August 2008

Abacus – Australian Mutuals warmly congratulates Traditional Credit Union (TCU) for winning a prestigious Indigenous Governance Award.

Traditional Credit Union wins governance award

29 August 2008

Australian’s only Aboriginal-owned banking institution, Traditional Credit Union (TCU), has won the 2008 Reconciliation Australia Indigenous Governance Award for an organisation established for more than 10 years.

Mutual financial institutions create stronger single voice: Friendly Societies join with Credit Unions, Building Societies

12 August 2008

Australian mutual financial institutions, who between them serve over six million members nation-wide, have expanded their single industry "voice" through a larger industry body.

"A good start": Credit unions, building societies welcome recommendations on more comprehensive credit reporting

11 August 2008

Credit unions and mutual building societies welcomed the recommendation for today of the Australian Law Reform Commission (ALRC) to expand the credit reporting information that can be held by credit reporting agencies as “a good start”.

Award Winning Mutuals

17 July 2008

Abacus congratulates credit unions and mutual building societies who are winners and finalists in the 2008 Money Magazine Consumer Finance Awards and 2008 Australian Banking and Finance Magazine Awards.

Mutual ADIs applaud COAG decision on Credit Regulation

04 July 2008

Credit unions and mutual building societies welcome the agreement reached by the Council of Australian Governments (COAG) to transfer the regulation of all consumer credit to the Federal Government.

Credit Reforms Need to Go Further

03 June 2008

Credit unions and mutual building societies welcome the release today of the Government’s Green Paper on Financial Services and Credit Reform but urge the Government to consider moving all credit products to the Federal jurisdiction.

Financial Claims Scheme

02 June 2008

Credit unions and mutual building societies look forward to engaging with the Government on establishing a Financial Claims Scheme (FCS) even though the scheme may never be used.

Credit union takes corporate responsibility award

21 May 2008

Abacus – Australian Mutuals congratulates Victorian-based credit union, mecu, on winning the ‘Best New Entrant’ award in the 5th Australian New Zealand Corporate Responsibility Index (CRI).

RBA won’t put brake on surcharging

22 April 2008

The Reserve Bank of Australia has missed an opportunity to protect shoppers from price gouging by merchants imposing surcharges on card transactions, according to the credit union and building society industry body Abacus – Australian Mutuals.

Credit Unions Charge Lower Exit Fees, confirms ASIC Report

06 April 2008

Credit unions and mutual building societies have had their status as fair and responsible market players confirmed by ASIC’s Review of Mortgage Entry and Exit Fees, released recently by the Treasurer Wayne Swan.

How affordable is your home loan? Mutuals lead way on interest rates.

03 April 2008

Credit unions and mutual building societies have become even more important to competition in the home loan market due to the decline of mortgage originators, a Federal Parliamentary Inquiry heard today.

Credit unions and building societies encourage responsible lending as rates rise

04 March 2008

The Reserve Bank’s announcement of an interest rate rise of 0.25% will place more families under financial pressure and credit unions and building societies urge all lenders to deal responsibly and fairly with their customers.

Don’t be seduced or deceived by fraudsters

02 March 2008

International criminals are targeting trusting people from small communities and scamming hundreds of thousands of dollars each month.

Indigenous credit union invites partnerships

26 February 2008

Traditional Credit Union (TCU) is seeking partners to boost its capacity to provide banking services and promote financial literacy in remote Aboriginal communities across the Top End.

Abacus backs account switching package

09 February 2008

Credit unions and mutual building societies support practical measures to promote competition in the retail banking market by making it easier for customers to switch accounts.

Improved saving scheme will benefit young workers

04 February 2008

Credit unions and building societies say improvements to the Government’s planned First Home Saver Accounts are good news for young workers.

First Home Saver Accounts for young workers

29 January 2008

Australia’s customer-owned banking sector is urging the Government to ensure its promised First Home Saver Accounts are attractive for young people and lower income earners.

Daniel McDougall
Senior Adviser - Media
Ph: (02) 8299 9024
Mob: 0407 637 541

Mark Degotardi
Head of Public Affairs
Ph: (02) 8299 9053
Mob: 0419 998 201
Email Mark