Credit Union Australia and at least one other large mutual are working on a strategy to identify areas where they can cooperate to cut costs and add efficiency to their operations. Improved margins make them more competitive.The mutual sector collectively accounts for about five per cent of the banking services market, with that share spread over 80 participants, making agreement on any whole-of-sector venture highly unlikely.With that in mind, CUA and People's Choice Credit Union will be forming a new joint venture company, Mutual Marketplace. The new business will commence operations in April to provide procurement and accounts payable services to both organisations. The move is being pushed by Rob Goudswaard, chief executive of CUA, a relative newcomer to mutuals after spending 30 of his 35 years in banking at ANZ, where he saw firsthand the benefits a large bank can achieve in terms of cost savings."CUA is the biggest [credit union] in terms of assets and we are keen to do what we can to identify points of collaboration," said Goudswaard.If successful, the joint venture opens the way for deals that will demonstrate how items such as procurement, leasing contracts, and travel can be managed. "It is scalable so other mutuals that want to join us will be able to," Goudswaard said.