Lick it while it’s fresh

by BN15 Mar 2012

The stamp collectors are baying for it. It’s the hottest piece of collectible sticky paper since the first post-it-note. And to top it off, it has the financial services sector licking their lips as they prepare to ditch email for some old-fashioned snail mail. Yes, it’s the latest commemorative stamp, recognising 2012 as the United Nationals International Year of Co-operatives. So why is this so eagerly salivated over by the financial services industry? Well, the mutuals out there jumped on its release, saying the stamp recognised the contribution credit unions, building societies and mutual banks had made to building the economy. “Australia Post's series is welcome recognition for a model that has proven secure competitive, and relevant to the Australia of 2012,"Abacus’ CEO gushed. Insider thinks the fanfare and excitement is just a little overblown, unless of course you are a stamp-collecting member of a mutual that still uses the postal system. Given major bank dominance, that small portion of the population is only likely to get smaller, especially when you take into account that more of those customers are no doubt hitting the twilight of their lives. Insider will let this particular stamp go, and save his stamp-licking until next Christmas.