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Connexus : Issue 39
NEWS 10 Connexus New CEO Community Alliance Credit Union has appointed Bob Kotic as its new CEO, taking over from Mike Halloran. Kotic is the former vice president (administration) at the National University of Singapore and, earlier, chief operating of ficer, chief financial officer and deputy v ice chancel lor at Sydney University. He has also held chief financial positions with ING Australia, Zurich Australia and AMP, and he was CEO of AMPAC and Lumley Life. Welcoming the appointment, Halloran says Kotic is highly regarded and his experience will be a boon for the credit union because a third of its business is in the university sector. “ Bob is an accomplished senior executive in business management and finance, with exper ience across financial ser vices, manufacturing as well as higher educational industries.” Halloran, who has spent 12 years at the credit union, says he’s planning a new career as a professional director. Mortgage enquiries boom after rate hikes Queenslander s Credit Union has repor ted record levels of refinance enquiries from dissatisfied mortgage holders during February following rate hikes by major banks. Queenslanders Credit Union CEO John Weier says the level of interest in switching home loans to the credit union was exciting. In one week alone Queenslanders had a 400 per cent increase in enquiries. “ The increase in demand for mortgage refinances is proof people are unhappy and are looking for something more from their home loan provider,” says Weier. Banking on Teachers Teachers Mutual Bank, the latest of six credit unions and building societies to become mutual banks, says it’s seeing a growing shift of customer s to mutuals since the big four banks broke ranks with the RBA interest rate cycle late last year. Refinance applications are the highest they’ve been in 12 months, says CEO Steve James. “There was a very significant increase in mortgagees switching to Teachers (now) Mutual Bank from December to January, and this has been sustained with a 21 per cent increase from January to February. While March figures are not yet available, the signs are similarly strong.” Meanwhile the for mer Teachers Credit Union has grabbed several awards in recent months. Firstly, it achieved bronze status in the international Corporate Responsibility Index, published in the list of 110 winners in the London Financial Times. The index provides a systematic approach to managing, measur ing and repor ting on r esponsible business practice. Companies are assessed on cor porate strategy, integration, management, per for mance and impact. “To be awarded bronze status in the CR Index as a relatively small financial institution, means that we’re punching above our weight internationally on sustainability,” says James. In other awards, the Equal Opportunity for Women in the Workplace Agency has recognised the organisation as an Employer of Choice for Women in 2012, the fifth year in a row. And the bank has achieved the highest score (93.2 per cent) in the Roy Morgan Bank Satisfaction Sur vey for Febr uar y 2012. 2012 Events may may Abacus/Code Compliance Committee MBCOP Workshop, various dates and locations 4-6 may Vic/Tas Insight Seminar, Ballarat, Vic 7 may Abacus Complaints Handling and Resolution Workshop, Adelaide, SA 9-10 may 2012 BSA Annual Conference, Manchester, UK 15 may Abacus Directors’ & CEOs’ Forum, Sydney, NSW JuNE 4-17 June CUFA’s Cambodian Leadership Challenge, Cambodia July 7 July UN International Day of Co-operatives 15-18 July 2012 World Credit Union Conference, Gdańsk, Poland auGuST 9-20 august CUFA’s Kokoda Leadership Challenge, Papua New Guinea SEPTEmBEr 22-26 September 2012 Abacus AM Institute Convention, Gold Coast, Qld OCTOBEr 18 October International Credit Union Day