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Connexus : Issue 40
All aboard! Abacus has formed a partnership with Women on Boards, an organisation that aims to improve the gender balance on Australian boards, having signed up as a Corporate Subscriber. This will mean some exciting opportunities for Abacus members. The arrangement will support the professional development of women across the mutual sector and provide strategies to improve gender representation on boards and in leadership roles. As part of the partnership, members can attend Women on Boards networking events, receive advice on career development and progression, and obtain reports that chart gender diversity in major Australian companies. The agreement offers signifcant networking and opportunities for women and their organisations, and members can attend the WOB annual conference. Abacus members will also be able to list board vacancies on the Women on Boards website and connect with 14,000 WOB members from a range of industries. Abacus will be advising Chairs and CEOs in more detail shortly about the opportunities this partnership with Women on Boards provides. Rapid expansion for People's Choice Australia's second largest credit union, People's Choice, is to rapidly expand its national presence, launching eight new branches in Melbourne and Canberra later this year. "We discovered an opportunity which was too good to pass up," says managing director Peter Evers. "When we found out a short while ago that ME Bank was exiting from a number of its sites as part of a new ser vice model we had a close look at the locations and agreed to take over the leases of eight of those sites. "It's a bold move but one which is very good for our business," says Evers. Each of the eight sites is already operating as a fnancial centre so there’s no need for expensive redesigns and ft-outs, which will save considerable time and money. "The branches are already designed to operate in a similar way as our existing sites, which is ideal," says Evers. With the new sites People’s Choice will have 64 branches Australia-wide, with 14 in Victoria. New CEO for Bankstown Bankstown City Credit Union has appointed Peter Mogg as chief executive offcer. Mogg's former role was as CEO at Rockhampton-based The Capricornian Ltd (formerly Capricornia Credit Union) since 1994. He's been involved in the management of mutual fnancial institutions for more than 28 years. And the winners are... Abacus members have featured prominently in recent awards. More than 200 fnancial institutions were examined by the Money magazine to judge its consumer fnance awards. In the mutual sector, awards went to: • Newcastle Permanent - Building Society of the Year • Community CPS Australia - Credit Union of the Year • Horizon Credit Union - Personal Lender of the Year • bankmecu - Socially Responsible Institution (Unlisted) of the Year In the Australian Business & Finance magazine (AB+F) awards, the Greater Building Society was named Building Society of the Year and Gateway Credit Union was voted Credit Union of the Year. Meanwhile bankmecu has become the frst Australian bank to be accepted as a member of the Global Alliance for Banking on Values, a group of banks from around the world that aim to touch the lives of a billion people with sustainable banking by 2020. Heritage aims for $125m Heritage Bank is hoping to raise about $125 million with its new Heritage Bank Retail Bonds. It’s the frst issue of senior, unsecured bonds to be listed on the ASX by a mutual bank in Australia. The ASX-listed debt securities are v -year, senior, unsecured bonds that will pay interest quarterly at a xed rate of 7.25 per cen 6 Connexus NEWS