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GRI Part I

GENERAL STANDARD DISCLOSURES REFERENCE/RESPONSE
STRATEGY AND ANALYSIS
G4-1 a. Provide a statement from the most senior decision-maker of the organization (such as CEO, chair, or equivalent senior position) about the relevance of sustainability to the organization and the organization’s strategy for addressing sustainability. Message from the Chair
G4-2 a. Provide a description of key impacts, risks, and opportunities. Message from the Chair
Materiality assessment
ORGANIZATIONAL PROFILE
G4-3 a. Report the name of the organization. Report profile
G4-4 a. Report the primary brands, products, and services. Our business
G4-5 a. Report the location of the organization’s headquarters. Remaining 100% customer owned and in Australia
G4-6 a. Report the number of countries where the organization operates, and names of countries where either the organization has significant operations or that are specifically relevant to the sustainability topics covered in the report.

Remaining 100% customer owned and in Australia

G4-7 a. Report the nature of ownership and legal form. Our business
Additional response:
mecu Limited’s subsidiary Ed Credit Services Pty Ltd is the Trustee for a Unit Trust that provides operational leases to schools. bankmecu is the sole beneficiary of the Unit Trust and the Trust reports directly to bankmecu.
G4-8 a. Report the markets served (including geographic breakdown, sectors served, and types of customers and beneficiaries). Remaining 100% customer owned and in Australia
Serving niche markets across Australia
Tackling key economic, social and environmental issues
Developing responsible banking products
G4-9 a. Report the scale of the organization. Remaining 100% customer owned and in Australia
Sourcing and distributing customer funds responsibly
Achieving scale through organic growth and mergers
Developing a skilled workforce and engaged internal culture
Statutory Financial Accounts
G4-10 a. Report the total number of employees by employment contract and gender.
b. Report the total number of permanent employees by employment type and gender.
c. Report the total workforce by employees and supervised workers and by gender.
d. Report the total workforce by region and gender.
e. Report whether a substantial portion of the organization’s work is performed by workers who are legally recognized as self-employed, or by individuals other than employees or supervised workers, including employees and supervised employees of contractors.
f. Report any significant variations in employment numbers (such as seasonal variations in employment in the tourism or agricultural industries).
Developing a skilled workforce and internal engaged culture
Additional response:
Casual female = 3, Casual male = 2, TOTAL 5
Contract female = 4, Contract male = 3, TOTAL 7
Full time female = 173, Full time Male = 96, TOTAL 269
Part time female = 71, Part time male = 1, TOTAL 72
TOTAL female = 251, TOTAL male = 102, GRAND TOTAL 353
No employees are self employed.
G4-11 a. Report the percentage of total employees covered by collective bargaining agreements. None.
G4-12 a. Describe the organization’s supply chain. Ensuring supply chain integrity
G4-13 a. Report any significant changes during the reporting period regarding the organization’s size, structure, ownership, or its supply chain. Report profile
Additional response:
All suppliers are from Australian markets – no significant change.
G4-14 a. Report whether and how the precautionary approach or principle is addressed by the organization. Our strategic plan
Additional response:
The precautionary approach is embedded at all levels of our business. A key point of differentiation for bankmecu is our responsible approach to banking, which includes a responsibility to protect natural capital and promote sustainable development. We have a strategic plan, with supporting policies and procedures in place, to ensure we minimise our impact on the planet and build resilience within the communities where we operate.
G4-15 a. List externally developed economic, environmental and social charters, principles, or other initiatives to which the organization subscribes or which it endorses. Customer Owned Banking Code of Practice http://www.customerownedbanking.asn.au/consumers/cobcop
Global Alliance for Banking on Values http://www.gabv.org/
United Nations Global Compact http://www.unglobalcompact.org.au/
Reconciliation Australia’s Reconciliation Action Plan program
G4-16 a. List memberships of associations (such as industry associations) and national or international advocacy organizations in which the organization:

  • Holds a position on the governance body
  • Participates in projects or committees
  • Provides substantive funding beyond routine membership dues
  • Views membership as strategic
Statutory Financial Accounts: 1. Directors
Additional response:
Customer Owned Banking Association http://www.customerownedbanking.asn.au/
Australian Banking Association http://www.bankers.asn.au/
Australian Mutuals Institute http://www.aminstitute.org.au/Home.aspx
Business Council of Cooperatives and Mutuals http://bccm.coop/
IDENTIFIED MATERIAL ASPECTS AND BOUNDARIES
G4-17 a. List all entities included in the organization’s consolidated financial statements or equivalent documents.
b. Report whether any entity included in the organization’s consolidated financial statements or equivalent documents is not covered by the report.
Statutory Financial Accounts: Note 32 Controlled Entities
G4-18 a. Explain the process for defining the report content and the Aspect Boundaries.
b. Explain how the organization has implemented the Reporting Principles for Defining Report Content.
Materiality assessment
G4-19 a. List all the material Aspects identified in the process for defining report content. Materiality assessment
GRI G4 Table (this table)
G4-20 a. For each material Aspect, report the Aspect Boundary within the organization. Materiality assessment
GRI G4 Table (this table)
G4-21 a. For each material Aspect, report the Aspect Boundary outside the organization. Materiality assessment
GRI G4 Table (this table)
G4-22 a. Report the effect of any restatements of information provided in previous reports, and the reasons for such restatements. Additional response:
Any re-statements are contained throughout the report.
G4-23 a. Report significant changes from previous reporting periods in the Scope and Aspect Boundaries. Additional response:
There have been no significant changes from previous reporting periods in the Scope and Aspect Boundaries.
GRI G4 was utilised for the first time this year.
STAKEHOLDER ENGAGEMENT
G4-24 a. Provide a list of stakeholder groups engaged by the organization. Stakeholder engagement
G4-25 a. Report the basis for identification and selection of stakeholders with whom to engage. Stakeholder engagement
G4-26 a. Report the organization’s approach to stakeholder engagement, including frequency of engagement by type and by stakeholder group, and an indication of whether any of the engagement was undertaken specifically as part of the report preparation process. Stakeholder engagement
Additional response:
All stakeholder engagement activities inform stratgeic planning and subsequently this report.
Feedback on last year’s report was specifically obtained from the Australasian Reporting Awards with regards to best practice Integrated Reporting and Online Reporting.
G4-27 a. Report key topics and concerns that have been raised through stakeholder engagement, and how the organization has responded to those key topics and concerns, including through its reporting. Report the stakeholder groups that raised each of the key topics and concerns. Materiality assessment
REPORT PROFILE
G4-28 a. Reporting period (such as fiscal or calendar year) for information provided. Report profile
G4-29 a. Date of most recent previous report (if any). Additonal response:
bankmecu’s previous Corporate Report was made available in October 2013 for the period 1 July 2012 to 30 June 2013.
G4-30 a. Reporting cycle (such as annual, biennial). Additonal response:
The reporting cycle is annual.
G4-31 a. Provide the contact point for questions regarding the report or its contents. Additonal response:
mail@bankmecu.com.au
or phone 132 888
G4-32 a. Report the ‘in accordance’ option the organization has chosen.
b. Report the GRI Content Index for the chosen option.
c. Report the reference to the External Assurance Report, if the report has been externally assured. GRI recommends the use of external assurance but it is not a requirement to be ‘in accordance’ with the Guidelines.
GRI G4 Table (this table)
Assurance Statement
Additional response:
In accordance – CORE.
G4-33 a. Report the organization’s policy and current practice with regard to seeking external assurance for the report.
b. If not included in the assurance report accompanying the sustainability report, report the scope and basis of any external assurance provided.
c. Report the relationship between the organization and the assurance providers.
d. Report whether the highest governance body or senior executives are involved in seeking assurance for the organization’s sustainability report.
Assurance Statement
GOVERNANCE
G4-34 a. Report the governance structure of the organization, including committees of the highest governance body. Identify any committees responsible for decision-making on economic, environmental and social impacts. Developing an effective governance framework
G4-36 a. Report whether the organization has appointed an executive-level position or positions with responsibility for economic, environmental and social topics, and whether post holders report directly to the highest governance body. Developing an effective governance framework
G4-38 a. Report the composition of the highest governance body and its committees. Developing an effective governance framework
Statutory Financial Accounts: 1 Directors Report
G4-39 a. Report whether the Chair of the highest governance body is also an executive officer (and, if so, his or her function within the organization’s management and the reasons for this arrangement). Developing an effective governance framework
Statutory Financial Accounts: 1 Directors Report
G4-41 a. Report processes for the highest governance body to ensure conflicts of interest are avoided and managed. Report whether conflicts of interest are disclosed to stakeholders. Developing an effective governance framework
Statutory Financial Accounts: 1 Directors Report, Note 25 Key managment and personnel disclosures
Additional response:
All Directors are required to declare any possible conflicts of interest so the Board can take appropriate action to deal with such conflict. The Board defines ‘independence’ in accordance with its Governance Policy and the Australian Stock Exchange (ASX) Corporate Governance Council’s Principles of Good Corporate Governance and Best Practice.
G4-42 a. Report the highest governance body’s and senior executives’ roles in the development, approval, and updating of the organization’s purpose, value or mission statements, strategies, policies, and goals related to economic, environmental and social impacts. Our strategic plan
Developing an effective governance framework
G4-44 a. Report the processes for evaluation of the highest governance body’s performance with respect to governance of economic, environmental and social topics. Report whether such evaluation is independent or not, and its frequency. Report whether such evaluation is a self-assessment.
b. Report actions taken in response to evaluation of the highest governance body’s performance with respect to governance of economic, environmental and social topics, including, as a minimum, changes in membership and organizational practice.
Additional response:
As part of its approach to corporate governance, the Board of bankmecu undertook a board performance review in 2014. That Review was based on the Board Dimensions methodology developed by Cameronralph Navigator.
G4-45 a. Report the highest governance body’s role in the identification and management of economic, environmental and social impacts, risks, and opportunities. Include the highest governance body’s role in the implementation of due diligence processes.
b. Report whether stakeholder consultation is used to support the highest governance body’s identification and management of economic, environmental and social impacts, risks, and opportunities.
Stakeholder engagement
Materiality assessment
Our strategic plan
Developing an effective governance framework
Managing risk
G4-46 a. Report the highest governance body’s role in reviewing the effectiveness of the organization’s risk management processes for economic, environmental and social topics. Our strategic plan
Developing an effective governance framework
Managing risk
G4-47 a. Report the frequency of the highest governance body’s review of economic, environmental and social impacts, risks, and opportunities. Developing an effective governance framework
Managing risk
Statutory Financial Accounts: Note 4 Financial risk management
G4-48 a. Report the highest committee or position that formally reviews and approves the organization’s sustainability report and ensures that all material Aspects are covered. Materiality assessment
Additional response:
The Board reviews and signs off on the annual Corporate Report before it is released.
G4-51 a. Report the remuneration policies for the highest governance body and senior executives.
b. Report how performance criteria in the remuneration policy relate to the highest governance body’s and senior executives’ economic, environmental and social objectives.
Developing an effective governance framework
Statutory Financial Accounts: 5 Remuneration Report
G4-52 a. Report the process for determining remuneration. Report whether remuneration consultants are involved in determining remuneration and whether they are independent of management. Report any other relationships which the remuneration consultants have with the organization. Additional response:
The Board has delegated the Board Governance Committee to fulfill responsibilities of the Board Remuneration Committee as required by Prudential Standard CPS510 Governance.The Governance Committee may refer to market comparisons and industry benchmarks for compensation and enlist the guidance of independent external consultants in determining remuneration. In the 2014 financial year the Governance Committee received information from Hay Group and McGuirk Management Consultant.
ETHICS AND INTEGRITY
G4-56 a. Describe the organization’s values, principles, standards and norms of behavior such as codes of conduct and codes of ethics. Our strategic plan
Our vision and values
Additional response:
The Staff Charter establishes an ethical framework for the decisions, actions and behaviour of staff. The Charter provides a set of guidelines and rules. It explains the principles covering appropriate conduct in a variety of contexts and outlines the minimum standards of behaviour expected of the Bank’s staff.
All new staff members are required to sign the Staff Charter acknowledging they have understood it and agree to comply with it. The Manager Human Resources is responsible for developing and implementing the Staff Charter.