Welcome to my first blog. I’ve been informed that blogging will not only allow me to communicate directly with vast numbers of members but will also allow members to give their point of view on the subject or anything else for that matter.
Blogging has been around for a number of years so I thought it was time I started making regular comment about some of the issues that affect our Credit Union, our economy or the well being of our members. I will try to keep my blogs very informal in a conversational style that will encourage a response from both Members and potential Members.
Lately, Credit Unions have been in the news particularly since the major Banks announced loan interest rates will be increased by more than the Reserve Bank Increase. As a result the Federal Government and media commentators alike, looked past the “big four” and suggested that “Mutuals” such as Building Societies and Credit Unions are a viable alternative. This was followed last Sunday by the Government’s announcement on banking competition, which promotes a range of initiatives including a commitment to “build a new pillar in banking” - a 5th pillar - through support for the mutual Credit Union and Building Society sector.
Much of the detail of last Sunday’s announcement is yet to be finalised but the events of the past few weeks have gone a long way in increasing the publics’ awareness of Credit Unions. This is great news for our industry and great news for those consumers who are starting to realize that Credit Unions are a viable alternative to the Banks.
So, this concludes my first blog and I look forward to hearing from you.
Regards
John Weier
