The Australian Mutuals Foundation (AMF) was registered by the Australian Charities and Not for Profit Commission (ACNC) in October 2016. It was established by Select & Encompass Credit Unions when they merged to form what is now Australian Mutual Bank Ltd. AMF is a registered company limited by guarantee. It is also a registered charity which has received deductible gift recipient status from the Australian Tax Office, allowing tax-deductible donations from corporate or individual donors.
The primary purpose of the AMF is to provide a vehicle for Mutual Banks, Credit Unions, Building Society and Cooperative banking to assist needy children in Australia, and to alleviate poverty in some of the poorest communities in South East Asia and the Pacific by the creation of sustainable cooperative financial organisations.
To achieve its objectives AMF has established partnerships with other organisations to assist in achieving its objectives. In Australia, AMF has become a donor partner to Barnardos Australia (a leading children’s charity in Australia) and AMF is one of its top ten corporate donors. In Asia, it has become an international partner to the Asian Confederation of Credit Unions (ACCU) and is undertaken international development projects in Laos, Myanmar & Bhutan. AMF has a Board of Directors appointed from the Credit Union/Mutual industry. The Board role is to oversee the work of the AMF. All directors have been assessed as fit and proper and have extensive senior management experience in the mutual financial services industry.