Comrades proves red hot for Unity mutuals
Unity Bank will be the new name of Maritime, Mining & Power Credit Union if its members back the leadership in a vote next month.MMPCU will also make the shift to mutual bank status, following in the footsteps of many larger credit unions.The shift to bank status has fostered a search for effective branding in the sector, Beyond Bank, UniBank, Bank Australia and Regional Australia Bank among recent choices by mutual ADIs.With a heritage in the Waterside Workers Federation Credit Union and strong trade union links among other credit unions with industrial bonds now under its wing the new bank's board is making the most of one keyword in union sloganeering.The runner up in the naming race faded late in board thinking.It "was going to be Comrade Bank," Mark Genovese the chief executive confirmed.