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This follows the challenge from the Federal Government to increase competition against the big four banks. The Federal Government wishes to see the mutual banking sector provider greater levels of competition by creating a 5th pillar in banking.
From 1 September 2011 MECU Limited will adopt the new business name bankmecu. MECU Limited is a large Australian credit union with assets exceeding $2.6 billion and $287 million in capital. It has 125,000 customers and 348 staff.
bankmecu will be a customer owned bank - a bank owned by its customers.
At 8:30 p.m on 29 December ABC1 showed the first of four programs on the People's Supermarket in the UK. The programs were first broadcast on Channel 4 in the UK in early 2011. The People's Supermarket was established in May 2010. Is the People's Supermarket a food co-operative or is it something else?
On behalf of all States and Territories, on 8 November 2011 NSW Fair Trading invited submissions on reporting requirements for small co-operatives. Submissions closed on the 7 December 2011. Seven submissions were received from - NSW Department of Education and training, the Co-operative Federation of Victoria Ltd, the Australian Accounting Standards Board, Co-operatives WA, Mark Snell and the Sydney Live Steam Locomotive Society Co-operative Ltd.