The MCBG was formed by a group of students in the early 1960's. Its principal reason for existence is to provide access to text books, reference books and stationery for students at competitive prices to service the communities at RMIT University. RMIT Bookshop is one of the few remaining technical bookshops in the Melbourne CBD.
In addition the group also services the needs of students and members of the Australian Professional Engineers, Scientist & Managers Association (APESMA), and Melbourne based students of the Australian College of Applied Psychology (ACAP).

In our financial year ending 30th September, 2007, MCBG provided retail discounts to members and students to the value of $551,033.00.

The MCBG currently consists of three branches:

→ RMIT Bookshop
→ RMIT Business Bookshop
→ RMIT Bundoora Bookshop

All stores largely service the needs of students at RMIT University. RMIT Business Bookshop services the needs of students from the RMIT Faculty of Business and is the official bookshop for Small Business Victoria. RMIT Bundoora Bookshop caters for students based on the Bundoora Campus.

The stores carry a comprehensive range of academic, reference and computer texts, in addition to academic notes, stationery, general books, software and calculators. The text book area liaises continually with lecturers and staff at RMIT university to ensure the bookshops carry the correct texts for the current semester.

Whilst students make up most of the membership of the co-operative, members of the public are invited to join. Membership costs $10.00, and entitles the member to purchase most items in all RMIT Bookshop branches at a 12% discount. Those students in possession of a student card, but who are not members, are entitled to a discount of 9%.