Customer-owned banking in Australia: from credit union to mutual bank

Jain, Ameeta, Keneley, Monica and Thomson, Dianne 2015, Customer-owned banking in Australia: from credit union to mutual bank, Annals of public and cooperative economics, vol. 86, no. 3, pp. 465-478, doi: 10.1111/apce.12062.

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Title Customer-owned banking in Australia: from credit union to mutual bank
Author(s) Jain, AmeetaORCID iD for Jain, Ameeta
Keneley, MonicaORCID iD for Keneley, Monica
Thomson, DianneORCID iD for Thomson, Dianne
Journal name Annals of public and cooperative economics
Volume number 86
Issue number 3
Start page 465
End page 478
Total pages 14
Publisher Wiley
Place of publication London, Eng.
Publication date 2015-09
ISSN 1370-4788
Summary Since the 1990s financial sector regulation in Australia has treated credit unions and building societies the same as banks under the designated title of authorized depository institutions. This allows credit unions to choose between different organizational structures: cooperative; convert to customer-owned banks or to demutualize. This article utilizes semi-structured interviews to analyse the key motivations for organizational change. It examines a number of credit unions and their conversion experience to customer-owned banks. It finds that adaptation of the credit union model was necessary to change customer perceptions, ensure future growth in the customer base and assets, and facilitate access to capital raisings with the credit rating of a bank. Despite this change customer-owned banks retain the core principals of mutuality.
Language eng
DOI 10.1111/apce.12062
Field of Research 150203 Financial Institutions (incl Banking)
Socio Economic Objective 900101 Finance Services
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2015, Wiley
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Document type: Journal Article
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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