| The history of Macquarie Credit Union Limited | |
| 1964 | Macquarie Credit Union was formed by electricity workers of Macquarie County Council in December. |
| 1967 | The rules of the credit union were changed to allow employees of Municipal Councils to join which further assisted the credit unions growth at the time. |
| 1972 | The rules of the credit union were changed again to allow employees of Hospitals within the Macquarie County Council area to become members. |
| 1974 | A merger with the Dubbo Municipal Council Employees Credit Union was completed. |
| 1980 | A merger with the Warren Shire Council Employees Credit Union was completed. |
| 1996 | The western area electricity departments were merged into Advance Energy which greatly increased the geographical area that we could attract members from. |
| 2001 | The Northern, Southern and Western NSW electricity departments were merged into Country Energy which again increased the geographical area that we could attract members from. In the same year we launched Country Energy Credit Union, (a division of Macquarie Credit Union) to further strengthen our ties with our founding electricity workers in NSW. |
| 2003 | A merger with Dubbo Post-Tel Credit Union was completed which then broadened our membership base to Electricity, Council, Health, Post Office and Telstra employees in NSW. |
The Credit Union Movement
Worldwide Credit Union Statistics*
- Credit Unions are represented in 93 countries around the globe
- Number of Credit Unions worldwide - 37,000
- Number of Credit Union members - 112 million
Australian Credit Union Statistics*
- A large customer base with 3.6 million members or about one in every five adults, with 187 Credit Unions across Australia
- As a group, Credit Unions are the sixth largest deposit-taking force in Australia behind the big four banks and St George
- Credit Unions have been traditionally strong in service values. This continues with our research showing nearly 9/10 customers rate us excellent or very good. This is the highest level for all financial institutuions
- Credit Union members are extremely loyal to their Credit Unions. As a demonstration of customer loyalty, 85% of our customers are likely to recommend Credit Unions to others. The same research indicates that less than 40% of the big four bank customers would be likely to recommend their bank to others
- Since 1996 the total Credit Union loan portfolio has grown by 47% from $12.3 billion to $18.1 billion
- In the ten-year period, 1991 to 2001, Credit Union membership has grown by more than 29 per cent, total assets have increased 2 1/2 fold (164%), and total loan portfolio (167%) and deposits (151%) have also increased 2 1/2 hold
- Credit Unions as a group issue the largest number of personal loans in Australia - twice as many as their nearest competitor
- Over 57% of the Credit Union membership is female. This has increased from 52% in 1998
* Statistics provided by Credit Union Services Corporation
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