We are saying that “credit unions can build a better world”. Is this possible? Do we have the clout and capacity to build a better world? This may seem far-fetched but I think in our own unique way, credit unions can help build a better world.
As the historical experiences shows, the inevitable result of this would be even higher interest rates and, at some point, a larger increase in unemploy­ ment to get rid of the ingrained inflation. The Board’s priority is to do what it can to avoid this. Over recent times the Australian economy has been operating at a very high level of capacity utilisation.