A not-for-profit is generally an organisation that does not operate for the profit, personal gain or other benefit of particular people (for example, its members, the people who run the organisation, or their friends or relatives). The definition of not-for-profit applies both while the organisation is operating and if it closes down.. Australian Unity is an Australian mutual company having its origins in the friendly societies movement. In 2012, Big Sky was merged with Australian Unity to become the banking arm of the company. In 2012, Big Sky was merged with Australian Unity to become the banking arm of the company.
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Last update 6 October 2020. Founded over 180 years ago, Australian Unity is Australia's first member-owned wellbeing company. It provides health, wealth and aged care services to over 1 million customers, including 175,000 health insurance policy holders across the country. While Australian Unity isn't not-for-profit, as part of the Members.. A not-for-profit health fund is a health insurance provider that uses its revenue only to pay benefits to members and to cover operating costs, such as marketing, paying staff, rent and other overheads. Membership of a not-for-profit fund may be available to anyone, or only to individuals in a certain industry or association, these are known as.
