Australian Unity is a mutual company
What is a mutual? And why is it important?
A mutual is a company that is owned by its members—typically its customers—not by shareholders looking for high returns on their investments.
Australian Unity can trace our origins to a pub in Melbourne, where on 7 December 1840, a group of eight people decided to form a friendly society with the goal of looking after the health and wellbeing of its members.
Fast forward to today, and our main focus is the same as it was over 175 years ago: to take care of our members and improve the wellbeing of Australians.
Publicly traded
Mutual
Profits
Profits are distributed to shareholders without necessarily benefiting customers
Profits are put back into the company to benefit members, customers and the community
Risk Tolerance
Can have tolerance towards higher risk to generate higher profits
Typically pursue lower-risk strategies, where long-term safety is paramount
Purpose
Dual purposes: to create profits for shareholders AND to provide services to customers
Main purpose is to provide services to members and customers
Governance
Shareholders can participate in the governance of the company (e.g. electing the board of directors)—customers don’t have this right unless they own shares in the company
Members, who are typically customers, can participate in the governance of the company (e.g. electing the board of directors)
Care
Shareholders generally care about profits and dividends
Members and customers care about cost, service, coverage and community
Australian Unity in the community
Australian Unity is a company founded on social values and community contribution. Established in response to unmet community needs in 1840, we continue to identify and help solve the health and financial needs of the broader community.
Wellbeing index
Financial Inclusion Action Plan
We are using our individual commitment and collective range of skills to support those facing financial exclusion
Reconciliation Action Plan
We are dedicated to driving reconciliation through employment and training outcomes.