The Australian launch of the UN International Year of Co-operatives kicked off today at Parliament House with the release of a $1 collectible coin produced by the Royal Australian Mint recognising this auspicious year.

[caption id="attachment_548" align="alignleft" width="150" caption="Collectible $1 Coin celebrating International Year of Co-operatives"][/caption]

"We are the only nation in the world to produce a collectible coin celebrating the UN International Year of Co-operatives in 2012, as we recognise the impact of the co-operative business model on the burgeoning strength of the Australian economy on the world stage," said The Hon Bill Shorten, Assistant Treasurer.

"It's very fitting we talk about the important role of cooperatives like credit unions and building societies when launching this collectible coin. While not many of these particular coins will be kept in a cooperative, Australians can be confident their savings will be safe and accessible in a credit union or building society."

Parliamentary Secretary to the Treasurer, David Bradbury, said that some of Australia's biggest household names are cooperatives and they provide consumers with a real alternative.

To read more please visit my Treasury website.