The International Day of Cooperatives (#CoopsDay) is celebrated annually on the first Saturday of July to raise awareness of cooperatives and promote the movement’s successes in advancing social and economic development.
First commemorated in 1923 by the International Cooperative Alliance (ICA), and officially recognised by the United Nations in 1995, CoopsDay showcases how cooperative enterprises, including financial cooperatives, empower people, strengthen communities, and uphold the values of democracy, solidarity, and sustainability.
What is a financial cooperative?
Financial cooperatives – including mutual banks, credit unions, building societies – are financial institutions that are owned and controlled by their customers/members.
Unlike traditional banks, where profits go to external investors, customer-owned financial institutions like Australian Mutual Bank reinvest profits to benefit their customers and the communities they serve.
As customer-owners, members of financial cooperatives benefit from better services and competitive rates, while also supporting a banking model that invests in their communities. The official theme for the 2025 CoopsDay is “Cooperatives: Driving Inclusive and Sustainable Solutions for a Better World.”
In a time of growing global challenges, this year’s theme is a timely reminder of the power of cooperative enterprise. Co-ops - businesses owned and run by and for their members - are delivering real-world solutions across sectors like health, housing, agriculture, finance, and clean energy, by putting people, planet, and purpose before profit.
Facts & Figures*
- More than 12% of humanity is part of any of the 3 million cooperatives on earth;
- The 300 largest cooperatives or mutuals report a total turnover of 2,409.41 billion USD while providing the services and infrastructure society needs to thrive;
- Cooperatives contribute to the sustainable economic growth and stable, quality employment, providing jobs or work opportunities to 280 million people across the globe.
Australian Mutual Bank’s impact
As a member-owned cooperative, Australian Mutual Bank has always placed its members at the heart of everything we do. Since 1953, we’ve proudly delivered quality banking, loan, and investment services- adapting to a changing financial landscape while staying true to our commitment to exceptional service.
We believe in our shared responsibility to uphold the values that contribute to a fairer, safer society. Guided by this belief, Australian Mutual Bank established the Australian Mutuals Foundation. The Foundation supports Australian children and youth, assists remote and disadvantaged communities in impoverished South East Asian and South Pacific countries, and provides a mechanism for members of cooperatives and mutuals, and the general public, to make donations to assist those affected by natural disasters, in Australia or overseas.
*Source: https://www.ica.coop/en/cooperatives/facts-and-figures
