ACCC allows collective bargaining by small Australian mutuals

The ACCC does not object to the collective bargaining notification CB10000486 lodged by The Customer Owned Banking Association (COBA). COBA lodged the notification on behalf of a subset of its members known as Small Australian Mutuals (SAM) and The Mutual Bank to enable Shared Services Partners Pty Ltd (SSP), a procurement company, to negotiate with potential providers of a Loan Serviceability Calculator for SAM members.

The ACCC is satisfied that the notified collective negotiations are likely to result in public benefits in the form of reduced overall transaction costs for SAM members and the provider of the relevant product, as well as the negotiation of more efficient terms and conditions. There is likely to be minimal, if any, public detriment.

The ACCC has decided to allow the notification to remain in force for a period of 10 years, as requested by COBA. Further information is available on the ACCC's public register.