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Connexus : Issue 40
MBCOP review underway Mutuals can help ensure the industry's code continues to live up to its promises. The Mutual Banking Code of Practice has been a "great success", says Abacus head of public affairs Mark Degotardi. Since commencing on 1 July 2009, the MBCOP has given the mutual sector the confdence of operating under a commitment to fair and responsible banking. "We're really pleased we've got a code that speaks to consumers in a straight- forward way, and the past three years have shown that our members are living up to the promise of the code," says Degotardi. "We've had good feedback from members and customer satisfaction is growing." "So much has changed from a regulatory perspective and it's time to sit back and ask how much of the code remains relevant today," says Degotardi. "What we want from the review are recommendations on any updates needed," says Degotardi. "That requires input from a range of stakeholders so the code continues to refect current market practices, gover nment legislation and our commitment to our customers." Members who have recommendations on the Mutual Banking Code of Practice should contact Abacus. www.abacus.org.au 13