It's good to be launching the year of co-operatives, not least because they come, in large part I am proud to say, out of union action

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Australia has 1,800 co-operatives and 106 mutual banking institutions.

Which hold, impressively, and I think it's impressive, eighty three billion dollars in assets, and in trust, for four point six million Australians.

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And as Minister responsible for the Mint it gives me great pleasure now to launch the 2012 International Year of Cooperatives Collectible one dollar coin, for which I hope a nickname, or at least a collective noun, is created by the end of lunch or the end of the day.

To read the entire speech please visit my Treasury website.