Michael Lawrence, thc chief executive of Australia’s peak mutual banking body, the Customer Owned Banking Association (COBA), has taken a global leadership role in the sector, having been voted in as chair of the World Council of Credit Unions (WOCCU).
As board head of the global peak body for member-owned banks, which he first joined back in 2018, Lawrence will oversee its core advocacy function, promoting financial inclusion and fostering cross-border collaboration between mutual banks.
Among his notable roles in financial services prior to joining COBA in 2017 were as managing director of AMP Bank, between 2007 and 2015, and than two decades at NAB, with senior roles across its .
WOCCU touts its mission as promoting “more equitable and resilient communities through financial inclusion powered by credit unions and financial cooperatives”.
The group counts a global membership of more than 50 national and regional credit union associations, representing more than 75,000 credit unions covering 70 countries.
Lawrence succeeds outgoing chair Diana Dykstra, the former CEO of California and Nevada Credit Union Leagues and credit union industry veteran of four decades, who retired from both roles on 1 July.
“This is a great opportunity for the Australian customer-owned banking sector to share its expertise and learn from other countries,” Lawrence said of his new role.
He added: “By collaborating with credit unions worldwide through WOCCU, we can further strengthen the customer-owned model and drive positive change in the global financial landscape.”
Elissa McCarter LaBorde, president and chief executive of WOCCU welcomed the organisation’s new chair as the “one of the most engaged board members we have had”.
“He is more than ready to lead our board of directors into the future, as we strive to accomplish more for the global credit union movement,” McCarter LaBorde said.
Lawrence has served as chief executive of COBA since 2017 and will continue in the role alongside his WOCCU responsibilities, where he will focus “on elevating the benefits of the [mutual banking] model on a global scale”.
“There is certainly a common thread that links us all. It doesn’t matter what part of the globe you’re from, but it’s rather about our values. It’s the purpose that we have to help people and the communities in which we operate. It’s the need for collaboration. And it’s also the power of our collective endeavours,” Lawrence said.
COBA represents 55 customer-owned banks in Australia, including credit unions, mutual banks and building societies.
