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Connexus : Issue 38
sustainability. Governments and others are seeing that there is a benefit in building a society that includes different forms of business enterprise.” It can be argued that such recognition is emerging in Australia, with treasurer Wayne Swan announcing a suite of banking reforms last year, designed to boost the competitive power of mutuals. In the United Kingdom there are calls for the re-mutualisation of failed banking institutions such as Northern Rock. The UN-designated goals for IYC 2012 are to increase public awareness about the contribution of cooperatives to social and economic development, and to promote the formation of new cooperatives and the growth and stability of existing ones, supported by appropriate government policy. Australia’s mutual banking institutions are the equivalent of cooperative banks worldwide. They are founded on similar principles and share a common DNA. IYC 2012 is an opportunity for us to increase the public’s focus on our core business principles of trust, moral integrity and community – principles which all too easily get lost amid the day- to-day banking debate. – Daniel Newlan is a senior adviser, policy and public affairs, at Abacus. Maggie Beer will be an IYC 2012 ambassador. connexus www.abacus.org.au 21 NEWS connexus www.abacus.org.au 21 IYC 2012’s longer-term benefits for mutual banking institutions will depend heavily on the industry’s level of participation. The true opportunity lies in using it as a focal point to connect with members and government to highlight the values inherent in the industry’s model. Treasury Total TM The only complete solution specifically tailored for credit unions and building societies in Australia. Contact Visual Risk for a free Demo 02 9262 6969 email@example.com | www.visualrisk.com End-to-end support for all your treasury activities. . Asset Liability Management . Regulatory Compliance . Liquidity Risk . Hedge Accounting . Back Office