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This newspaper page contains 3 articles. Subscribers can read the full text of each article.
Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Jul 27, 1968
Page
3
Economics writer Peter Long describes how credit unions work in the Australian Capital Territory. He outlines member ownership, mutual aid, and the goal of saving together to access loans at fair rates, noting the movement’s German origins and its spread to many countries.
The article outlines ACT credit unions charging about 1 percent monthly on deposits and loans, with security-optional limits up to 800 dollars or 2000 with collateral. It describes loan processes, member shares, director roles, and the potential for broader support, tax treatment, and federation among unions, noting modest national presence and calls for greater government backing.
A fragment from HMAS Arunta, a World War II destroyer, on display at the Australian War Memorial recalls its service from 1942 to 1945 including battles off Port Moresby and the Battle of Surigao Strait. The vessel later joined the mothball fleet and was scrapped in Sydney Harbour, with memorial officials seeking relics for the naval gallery.
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