about mecu

the true spirit of cooperation

Sure, we’re in the business of banking but please don’t call us as a bank.

In a nutshell, we are a financial co-operative, owned and controlled by you – our members.

Over the past 50 years mecu like minded people and organisations have come together entrusting us to manage around $1.7 billion in assets on their behalf.

Today mecu has become one of Australia’s largest and most successful credit unions offering a very different kind of banking.

people helping people

Credit unions differ from banks and other financial institutions in that the members who bank with the credit union are its owners.

The origins of financial cooperatives, also known as ‘people’s banks’ can be traced back to Europe in the year 1852, when a group of pioneering social entrepreneurs responded to the needs of poor rural communities who couldn’t access affordable finance.

Since this time credit unions have spread throughout the world. Today there are more than 46,000 credit unions operating in 97 countries providing a different kind of banking to over 197 million people and managing in excess of AUD $1.2 trillion in assets.

a sustainable approach to banking

mecu is respected in Australia and internationally for developing a sustainable approach to banking.

Following in the footsteps of our pioneering founders, mecu is responding to the needs of our community in the true spirit of cooperation.

mecu became the first credit union in Australia to be assigned a long and short term credit rating from international ratings service Standard & Poor’s, a testament to our financial strength and way of doing business.

The following is a list of credit unions that have since joined together to form mecu as it is known today.

list of credit unions that have joined mecu
ABG Credit Co-operative Limited
Burwood Community Credit Union
Choice Credit Union Limited
College Credit Union
Dependable Credit Union
Doncaster and Templestowe Credit Union
Education Credit Union
Enterprise Credit Union
Holy Redeemer Credit Co-operative
IPC Credit Union
Kingmoor Co-operative Credit Society Limited
Kraft Employees' Credit Co-operative Limited
Laboratories Co-operative Limited
Macaulay Community Credit Co-operative
Media Credit Union
Members Australia Credit Union
Moe Credit Co-operative
Outlook Credit Union
Professionals First Credit Union (APESMA)
Provident Credit Co-operative Limited
SEC Credit Union
Sirocredit (CSIRO Co-operative Credit Society)
St Bridgets Co-operative Society
St. Agnes of Highett Co-operative Credit Society Limited
Tertiary Credit Union
Uni Credit Union

To find out more about contact us today!

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