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 cooperative, owned and controlled by you - our members.
For more than 50 years mecu, our members and communities have come together entrusting us to manage around $2.3 billion in assets on their behalf.
Today mecu is one of Australia's largest and most successful credit unions offering a very different kind of banking.
Indeed with assets exceeding $2.3billion, $240million in capital, 33 Service Centres located throughout the country, some 140,000 members and around 330 staff we are now positioning ourselves as a significant credit union presence in Australia.
People helping people
Credit unions differ from banks and other financial institutions in that the members who bank with them 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 and socially responsible approach to banking
mecu is respected in Australia and internationally for developing a sustainable and socially responsible 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.
| 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 |
| RegionalOne Credit Union |
| Maroondah Credit Union |
To find out more about contact us today!
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