Mark Worthington, CEO of Australian Mutual Bank, recently delivered a compelling presentation at the 2024 Asian Credit Union Forum, highlighting the critical role of credit unions in addressing global socio-economic challenges. His keynote emphasised how credit unions, with their community-driven focus, are uniquely positioned to foster financial inclusion and drive sustainable development, particularly in emerging economies. Mark shared an Australian perspective, highlighting how Australian Mutual Bank makes a positive impact on communities and the environment. This is achieved through carbon neutrality certification under Climate Active standards, B Corp certification, supporting children's charity Barnardos Australia and the development of a Reconciliation Action Plan which fosters greater engagement with Aboriginal and Torres Strait Islander people.
Held in Bali, Indonesia, this year's Asian Credit Union Forum brought together 532 participants from 30 countries across Asia and beyond. Hosted by the Credit Union Central of Indonesia (CUCO), the event focused on the theme “Rooted Resilience: Bridging Gaps for a Sustainable Future”. It explored how credit unions can embrace innovation, sustainability, and solidarity to overcome socio-economic challenges and build resilient communities.
Through a series of discussions, workshops, and presentations, the Forum underscored the need for credit unions to adapt to the evolving needs of their members, particularly in the face of global challenges like economic inequality, climate change, and closing the gender gap.
Photo: AMBL CEO Mark Worthington speaking at the 2024 Asian Credit Union Forum.
As part of Australian Mutual Bank’s long-standing commitment to social responsibility, we proudly support initiatives that align with the core ideals of the mutual industry. In 2016, Australian Mutual Bank launched the Australian Mutuals Foundation (AMF), a platform dedicated to advancing social good both locally and globally. The AMF is now supported by twelve mutual banks.
A significant aspect of AMF's mission is its support of the Asian Confederation of Credit Unions (ACCU). The ACCU delivers credit union development programs in developing countries across Asia, providing financial tools and resources to empower communities and promote financial literacy. Through its partnership with ACCU, the AMF helps strengthen credit unions in emerging markets, furthering the shared goal of fostering sustainable and inclusive economic growth.
The 2024 Asian Credit Union Forum served as a reminder of the vital role credit unions play in creating a more equitable and sustainable world. By bridging gaps in access to financial services, fostering innovation, and building resilient communities, credit unions continue to pave the way for a brighter future.
Mark Worthington's participation in this event, alongside Australian Mutual Bank’s commitment to supporting global credit union development through the AMF, demonstrates the power of solidarity in addressing socio-economic challenges. It highlights how the mutual banking sector remains deeply committed to its founding principles: prioritising the well-being of people and communities above all else.
As the global economy continues to evolve, credit unions, building societies, cooperatives and mutual banks, with their member-first philosophy, stand as a beacon of hope and resilience for a sustainable future.
