The United Nations has officially recognised 2025 as the International Year of Cooperatives (IYC2025), under the inspiring theme “Cooperatives build a better world.” This theme highlights the pivotal role of cooperative-based enterprises including financial institutions like Australian Mutual Bank in shaping stronger, more equitable communities. 

What makes financial cooperatives unique?
Unlike traditional profit-driven banks, financial cooperatives are customer-owned. That means profits are reinvested directly into product enhancements, improved rates, and more robust community support because every member is an equal owner.

A proud Australian tradition

Cooperative banking in Australia traces its roots back to the 1840s, when everyday people found inspiration in joining forces to meet their financial needs. In this spirit, Australian Mutual Bank was born in 2019 through the union of two historic institutions:

  • Endeavour Mutual Bank, originally the Motor Transport Employees Savings & Loans Cooperative (est. 1953).
  • Sydney Credit Union, founded in 1963 to support City of Sydney Council employees.

These mergers continue a legacy of people-powered banking solutions.

The Cooperative advantage in action

  • Exceptional member satisfaction: In May 2024, Roy Morgan* found customer-owned banks scored 89.5% satisfaction, significantly outperforming the Big Four banks at 75.4%.
  • Members can enjoy competitive interest rates and whilst being a member of a financial institution that aligns with their values.

By the numbers (courtesy of the International Cooperative Alliance):

  • 12% of humanity belongs to one of the 3 million cooperatives worldwide.
  • The top 300 cooperatives and mutuals generate over USD 2.4 trillion in annual revenue.
  • Cooperatives provide work for 280 million people – roughly 10% of the global workforce

Celebrating impact: Australian Mutual Bank
For over 70 years (since 1953), Australian Mutual Bank has placed its members at the heart of all we do, offering quality banking, lending, and investment services, and adapting to our members’ evolving needs. As a certified B Corp, we also align with a global community of socially conscious businesses, championing economic fairness, social justice, and environmental stewardship.

Why it matters for union members

  • Member-owned model = no conflict between profit and purpose.
  • Profits returned through service, rates, and community investments.
  • Deeply rooted in cooperative values such as democracy, equity, solidarity, and concern for the community.

Australian Mutual Bank exemplifies the union principle of people coming together to empower each other. With a member-first ethos, we are committed to providing quality financial services that support the long-term financial wellbeing of its members whilst also being conscious of our corporate social responsibility.

To learn more about Australian Mutual Bank, The Ethical Alternative to banking, visit www.australianmutual.bank/Ethical or contact your Relationship Manager at bd@australianmutual.bank.

Source: Customer Owned Banking Association.

Disclaimer: All information is correct as at 18/07/2025 and subject to change. Please review Australian Mutual Bank Ltd Account and Access Facility Terms and Conditions of Use, Financial Services Guide and Target Market Determination before acquiring the product. Any information or advice does not take into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for you. Australian Mutual Bank Ltd | ABN 93 087 650 726 | Australian credit licence 236476 | AFSL 236476.