Credit unions fight trademark attempt
22 June, 2005
by Robyn Murray, Southern Highlands News
BDCU has backed moves to prevent Bendigo Bank from trademarking the words "community banking".
The Credit Union Services Corporation (Australia) Ltd (CUSCAL), the peak credit union body, has joined the Australian Association of Permanent Building Societies (AAPBS) in opposing the registration of the trademark.
The groups have filed a Notice of Opposition with IP Australia, the government authority responsible for registration of trademarks.
BDCU's manager of alliances and public relations, Ross Stone, said "community banking" was a common descriptive phrase that perfectly described what credit unions had been doing for years.
This is like trying to trademark 'mortgage lending'," he said."Community banking is what credit unions have been doing for almost 60 years.
"Credit unions and building societies are integral parts of the communities in which they operate.
"They return value to their customers in better service, fairer fees and support for local community groups. BDCU is owned by its members. We are already a community banking organisation and have been since 1962. Bendigo Bank has developed a franchise model of banking that allows communities to purchase their own financial institution."
Mr Stone said community banking was more than a marketing or branding strategy.
"For BDCU, it's fundamental to our philosophy, history and our mutual structure," he said.
CUSCAL has argued there is strong legal ground for the trademark to be rejected. The matter will be determined in a hearing later this year.
