Media Releases

Action needed to promote competition in banking

12 March 2010

Confirmation from the RBA that major banks have fattened their margins above pre-crisis levels increases the need for more Government action to promote competition in retail banking.

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Building societies, credit unions stay well ahead of banks

05 March 2010

Abacus – Australian Mutuals today offers its congratulations to banks for reaching record levels of customer satisfaction and urges banks to try harder to match the vastly superior satisfaction ratings of building societies and credit unions.

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Credit unions, building societies join national taskforce in fighting online fraud

01 March 2010

Credit unions and building societies have joined with the Australasian Consumer Fraud Taskforce in its National Fraud Week, March 1-7, aimed to create public awareness to help combat online scams.

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AFP joins with credit unions, building societies to say: "Don't be a money mule"

26 February 2010

Credit unions and building societies, in partnership with the Australian Federal Police (AFP), are warning the public about online job offers which can lure them into becoming money mules.

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No loans in Green Loans Program

19 February 2010

Abacus – Australian Mutuals, the industry body for credit unions and mutual building societies, has today expressed disappointment at the announcement today regarding changes to the Government’s Green Loans Program (GLP).

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Bank shareholders profit at expense of hardworking customers

16 February 2010

Westpac’s first quarter profit announcement today of $1.6 billion dollars – following the staggering $2.9 billion dollar profit posted by Commonwealth Bank last week – is a slap in the face to hard-working Australians who struggled as big banks raised interest rates in December last year.

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Building societies, credit unions: strong and secure

08 February 2010

Most deposits in credit unions and mutual building societies are not affected by the decision announced yesterday by the Government to remove the Guarantee Scheme for Large Deposits and Wholesale Funding, which applies to bank funding and deposits over $1 million dollars.

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Australians love a fair go – and Mutuals offer just that

25 January 2010

With Australia Day festivities about to launch into top gear, many Australians are worried about rising interest rates, especially pending the outcome of the RBA Board Meeting on February 2.

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