HomeView 2014 Media ReleasesAustralians value customer owned business

COBA today welcomed a report on the value of customer owned businesses to the Australian economy and local communities.

The Business Council of Co-operatives and Mutuals (BCCM) “2014 National Mutual Economy Report” found 1700 customer owned businesses deliver outstanding products and service to 13 million customers across Australia.

Customer owned banking institutions were ranked on top for assets held in the report.

Acting COBA CEO Mark Degotardi said Australians consumers are supporting customer owned, values-based businesses in large numbers.

“The report shows customer owned enterprises – not just in banking but in agriculture, health, and education – are offering competitive, sustainable and responsible business models that are proving attractive to Australian consumers.

“From farming to finance, these businesses are making a compelling case that there is a better way of doing business.”

The BCCM report is based on a study by the University of Western Australia.

The report highlights the contributions of customer owned industries that reinvest profits back into their customers and the Australian economy.

BCCM says customer owned businesses make the same contribution to the economy as the mining sector – around 6% of the nation’s earnings.

For more information please contact:

Daniel McDougall, Senior Manager – Media and Communication
02 8035 8444 or 0407 637 541, This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Customer Owned Banking Association is the industry body for credit unions, building societies, mutual banks and friendly societies.  See coba3.nexusone.com.au

Download PDF release here91.99 KB


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Sally Mackenzie
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