Who is mecu?
After more than 50 years mecu has become Victoria’s strongest and largest credit union. Today we serve some 130,000 members across Australia on whose behalf we manage in excess of $2 billion in assets.
mecu also operates Service Centres in ACT, NSW, QLD and SA.
mecu is recognised both domestically as well as internationally for our strong commitment to environmental and social responsibility, cooperative principles and for delivering member benefit through its market leading interest rates on deposits and loans as well as its equitable approach to charging fees.
Some members wonder what “mecu” means or stands for. mecu is the name created in 2003 for the credit union following the merger between Education Credit and Members Australia Credit Union. mecu once stood for “Members and Education Credit Union”, however mecu changed its official registered name to simply “mecu Limited” to reflect our diverse membership.
How will I be impacted by this merger?
The Information Statement, sent to members in May, provided a comprehensive explanation of the benefits including a full list of products, interest rates and fees.
We are now working to deliver those benefits from 1st July by establishing a range of new products and changing rates and fees.
All members will receive a copy of the new Financial Services Guide, General Terms and Conditions for various products, Fees and Charges schedule and the Interest Rate Schedule before changes are effective as we must provide all members 30 days notice prior to the effective changes.
The mail out of information will take place from 23 June to ensure members have the information by 1 July.
What will happen to my banking arrangements?
There will be no change to your banking arrangements in the short term.
RegionalOne and mecu operate different banking systems which will require a thorough conversion process, intended to take place in November 2009. RegionalOne and mecu will work to minimise disruptions to your banking arrangements.
From November, members will be able to call mecu’s call centre, use the website for product information and internet banking and use mecu’s telephone banking system.
All members will receive a special banking conversion information pack in September outlining the changes and differences to their banking with the credit union.
Do I use the same contact numbers?
Yes. You can still contact your local branch (now called Service Centres) for all your banking needs.
The website and Phone Banking details also remain unchanged.
You can also visit mecu’s Service Centres around Victoria to conduct your banking. Click hereto find locations.
When will the name change, including signage?
As outlined in the Information Statement, RegionalOne will continue to trade under the same brand. The only difference is that the ABN and AFSL details will be those of mecu’s and you will see a note on communications advising “mecu Limited trading as RegionalOne”.
We will conduct a brand survey later in the year and then make a decision whether it is appropriate to transition to the mecu brand.
You will also notice that product details on the website will change progressively from 01/07/2009 onwards as we gradually update and align ourselves with mecu
Back to RegionalOne banking conversion page
