Abacus - 2009 Media Release Archives

Competition hots up: credit unions & building societies offer Australians the best home loan deals

17 December 2009

Independent data confirms that credit unions and mutual building societies are providing extremely competitive home loans across all home loan categories.

Credit unions and building societies record double digit home loan growth

15 December 2009

Official statistics released today by the Australian Prudential Regulation Authority (APRA) show double digit home loan growth for credit unions and building societies.

We won’t treat you like monkeys

09 December 2009

Credit unions and mutual building societies have this message for Westpac customers: "We won’t treat you like monkeys."

Credit unions & building societies scoop awards pool: Money magazine's Best of the Best 2010 Awards

03 December 2009

Money magazine’s 2010 Best of the Best issue is out now, with credit unions and building societies winning a raft of awards & runners-up places, including over 20 gold awards!

Credit union, building society tips to safe online Christmas shopping

01 December 2009

With the Christmas season already upon us, many people will be purchasing gifts online. Online shopping can be a safe and time-saving activity but it’s important to ensure you shop online safely and securely.

Abacus Chair and Board members appointed

18 November 2009

Abacus – Australian Mutuals, the industry body for credit unions, mutual building societies and friendly societies has today announced the appointment of its new Chair, Mr Andrew Saxby.

Mutuals survive GFC “better than most”, says KPMG Survey

17 November 2009

Australian credit unions and building societies have survived the financial crisis “better than most”, says KPMG in its Financial Institutions Performance Survey for Building Societies and Credit Unions, released today.

Credit unions and building societies win industry awards

10 November 2009

Today credit unions and mutual building societies were recognised for helping plant 20,000 trees on Hindmarsh Island in a revegetation project; putting people first in outstanding community banking initiatives; offering consumers innovative products and providing culturally-appropriate banking services for Indigenous Australians in remote communities.

Abacus 09 Convention opened by Assistant Treasurer Nick Sherry

09 November 2009

The Abacus 09 Convention was officially opened today by the Assistant Treasurer Nick Sherry, in front of more than 1,000 delegates from credit unions, mutual building societies and friendly societies at the Gold Coast Convention Centre.

Credit union & building society customers happiest, says new survey

23 October 2009

While concerns about big bank dominance in the market continue, Australia’s thriving mutual banking sector has again recorded market-leading levels of customer satisfaction.

Traditional Credit Union wins Deadly Award

16 October 2009

Darwin-based Traditional Credit Union (TCU) has won the 2009 Deadly Award for Contribution to Employment.

Australia celebrates International Credit Union Day

15 October 2009

Australian credit unions – serving over 3.5 million Australians – join more than 95 countries around the world to celebrate International Credit Union Day on 15 October.

Credit reporting reform good for consumers & lenders

14 October 2009

Credit unions and mutual building societies welcome the Australian Government’s announcement today that it will reform credit reporting to allow lenders to have better information about consumers seeking credit.

Save millions with credit unions, building societies

12 October 2009

Further research out today shows that Australians can save millions by looking outside the "Big 4" banks, and making the switch to a credit union or building society.

Deposit accounts most heavily taxed savings

02 October 2009

Head of the Federal Government’s tax review, Treasury Secretary Ken Henry, has identified deposit accounts as by far the most heavily taxed savings vehicle.

Mutuals beat banks on service - so make the switch

01 October 2009

Consumer group CHOICE’s survey on personal banking satisfaction has just been released, showing customers of the big four banks are “far less satisfied” with their financial institution than customers of credit unions and building societies.

Credit unions, building societies stable & prudent

24 September 2009

The Reserve Bank’s latest Financial Stability Review out today confirms the high prudential standing of credit unions and building societies.

Credit union & building society performance compares favourably to banks

22 September 2009

Latest bank quarterly performance statistics from APRA underline the crucial role of mutual banking institutions - credit unions and building societies - in providing competition and choice.

Strong financial results for credit unions and building societies

15 September 2009

Credit unions and building societies have recorded strong results in 2008-09 with figures out today showing a sector-wide net profit of $344.5 million and total assets increasing to $67.5 billion.

Credit unions & building societies: a competitive lending option for all consumers

03 September 2009

Credit unions and building societies are by far the most dominant alternative mortgage providers, writing around 7 out of every 10 new mortgages approved outside of the banks.

Community First Credit Union teams with McGrath Foundation to launch McGrath Pink Visa card

12 August 2009

Community First Credit Union has today launched the official McGrath Pink Visa card, the only national “pink” Visa credit card in Australia specifically designed to make a difference to the lives of women diagnosed with breast cancer and their families.

Better than a "people's bank": Australia's credit unions & building societies

08 July 2009

Australia’s credit union and mutual building society peak body, Abacus – Australian Mutuals, has responded to a letter by economists on the concept of a new “people’s bank”, saying that mutual banking institutions already fill this role.

KPMG report: Credit unions and building societies "deliver solid financial results" and "strengthened balance sheets"

02 July 2009

One of Australia’s largest accounting firms, KPMG, has today confirmed the financial strength and performance of the credit union and building society sector.

Credit Union Community CPS partners with ACT Government in nation’s first Land Rent Scheme

23 June 2009

A desire to provide affordable housing for all Australians has driven leading credit union, Community CPS Australia to partner with the Australian Capital Territory Government in delivering the country’s first Land Rent Scheme.

Borrowers told to shop around

17 June 2009

Borrowers could save up to $32,000 on their home loan if they look beyond the big four banks to a more competitive credit union or building society, according to independent analysis by InfoChoice.

Mutuals highly competitive on home loans

12 June 2009

The Commonwealth Bank’s decision to increase its home loan rate by 10 basis points to 5.74% highlights the need for a competitive home loan market.

Credit unions and building societies: easy tips to staying smart and safe online

05 June 2009

To help raise public awareness and inform people how to stay smart online, credit unions and building societies have partnered with Government in its annual initiative National E-Security Awareness Week, happening this week, 5-12 of June.

Credit unions & building societies win Money magazine awards

03 June 2009

Credit unions and mutual building societies are among the winners in Money magazine’s 2009 Consumer Finance Awards issue, as published today.

Credit unions and building societies top Customer Satisfaction

29 May 2009

Credit unions and mutual building societies continue to top the customer satisfaction stakes for banking institutions, according to Roy Morgan’s April Banking Satisfaction Survey.

Credit unions and building societies commit to fair, responsible lending practices

27 May 2009

Credit unions and mutual building societies have launched Australia’s first code of practice to commit to fair, responsible and ethical lending practices.

Regions need competitive banking market

21 May 2009

The mutual banking sector is calling on the Federal Government to act to preserve competition in retail banking, particularly in regional Australia where credit unions and mutual building societies have such an important role.

Credit unions, building societies urge Govt to focus on responsible lending, not red tape

27 April 2009

Credit unions and building societies have supported the Federal Government’s moves today to introduce national consumer credit laws, but have warned the Government against repeating the mistakes of the Financial Services Reform (FSR) regime.

Abacus congratulates mecu on winning Premier’s Sustainability Award

20 April 2009

Victoria’s largest credit union, mecu, has won the prestigious Premier’s Sustainability Award for their innovation in developing a world-first Conservation Landbank.

Consumers urged to shop around for term deposits

16 April 2009

Abacus – Australian Mutuals, the industry body for credit unions and mutual building societies, welcomes today’s announcement by the Australian Securities and Investments Commission (ASIC) about help for consumers to get the best out of their term deposits.

Banks Meet Credit Union & Building Society Standards on Hardship Assistance

05 April 2009

Abacus, the industry body for Australian credit unions and mutual building societies, has responded to today's news that Australia’s four big banks have agreed to review approaches to financial hardship cases amongst their customers.

Red Cross CEO thanks credit unions & building societies for giving almost $950,000 to Victorian bush

30 March 2009

Australian Red Cross CEO Robert Tickner this morning thanked the members, local communities and staff of credit unions and building societies for their generosity as a giant cheque of $943,250 dollars, raised for the Victorian bushfire appeal through Credit Union Foundation Australia, was presented to him in Sydney today.

Credit unions & building societies: a sure footing

26 March 2009

The RBA’s latest Financial Stability Review shows that building societies and credit unions are more strongly capitalised than banks and have lower non-performing loan ratios than banks.

Don't be a victim - scams could happen to you! Mutuals urge members to protect themselves against scams

02 March 2009

Every year, one in 20 Australians fall victim to scams. National Consumer Fraud Week, happening this week, the 2nd-8th of March.

Credit unions & building societies set up Bushfire Relief Fund

09 February 2009

Credit unions and building societies have set up a Bushfire Relief Fund. Donations are tax-deductible and all money collected will be used to provide emergency relief through the Red Cross Victorian Bushfire Appeal.

2009 Media Release Archives

Competition hots up: credit unions & building societies offer Australians the best home loan deals

Credit unions and building societies record double digit home loan growth

We won’t treat you like monkeys

Credit unions & building societies scoop awards pool: Money magazine's Best of the Best 2010 Awards

Credit union, building society tips to safe online Christmas shopping

Abacus Chair and Board members appointed

Mutuals survive GFC “better than most”, says KPMG Survey

Credit unions and building societies win industry awards

Abacus 09 Convention opened by Assistant Treasurer Nick Sherry

Credit union & building society customers happiest, says new survey

Traditional Credit Union wins Deadly Award

Australia celebrates International Credit Union Day

Credit reporting reform good for consumers & lenders

Save millions with credit unions, building societies

Deposit accounts most heavily taxed savings

Mutuals beat banks on service - so make the switch

Credit unions, building societies stable & prudent

Credit union & building society performance compares favourably to banks

Strong financial results for credit unions and building societies

Credit unions & building societies: a competitive lending option for all consumers

Community First Credit Union teams with McGrath Foundation to launch McGrath Pink Visa card

Better than a "people's bank": Australia's credit unions & building societies

KPMG report: Credit unions and building societies "deliver solid financial results" and "strengthened balance sheets"

Credit Union Community CPS partners with ACT Government in nation’s first Land Rent Scheme

Borrowers told to shop around

Mutuals highly competitive on home loans

Credit unions and building societies: easy tips to staying smart and safe online

Credit unions & building societies win Money magazine awards

Credit unions and building societies top Customer Satisfaction

Credit unions and building societies commit to fair, responsible lending practices

Regions need competitive banking market

Credit unions, building societies urge Govt to focus on responsible lending, not red tape

Abacus congratulates mecu on winning Premier’s Sustainability Award

Consumers urged to shop around for term deposits

Banks Meet Credit Union & Building Society Standards on Hardship Assistance

Red Cross CEO thanks credit unions & building societies for giving almost $950,000 to Victorian bush

Credit unions & building societies: a sure footing

Don't be a victim - scams could happen to you! Mutuals urge members to protect themselves against scams

Credit unions & building societies set up Bushfire Relief Fund

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