Mutual Value Lab leverages the ongoing research collaboration between Monash Business School, the Business Council of Co-operatives and Mutuals (BCCM) and the CME sector in Australia. Since 2017, this collaboration has resulted in the development and commercialisation of a groundbreaking performance and impact measurement framework known as the MVM framework.
Following the launch of the MVM framework in 2019, Monash and BCCM have collaborated to support CME review and adopt the framework for strategic measurement and reporting and communication of mutual value. More than 30 Australian CMEs are working with the framework.
In 2022, the framework was adopted by the Newcastle Building Society in the UK becoming the first overseas CME to take advantage of the framework. In 2023, the framework is under review by the Association of Government Risk Pools, a national peak body for insurance mutuals in the US. AGRiP intends to promote the framework for adoption to its membership of 210 risk pools (mutuals).
BCCM and Monash have also developed an accreditation scheme for evaluating how CMEs are using MVM. Under this scheme, an industry panel with members from BCCM, the CME sector and Monash assess accreditation applications, which include a survey report from each applicant. Accredited CMEs are allowed to use the MVM accreditation logo on their website and in marketing and social materials.
For more information on MVM, visit www.mvm.coop, our dedicated website for the MVM framework hosted by our industry partner, BCCM.
