People's Choice Credit Union

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People's Choice Credit Union
Credit union
Industry Financial services
Headquarters Adelaide, South Australia
Key people
John Cossons, Chair of Board of Directors, Steve Laidlaw, Chief Executive Officer[1]
Products Retail banking, Investment, Insurance, Financial Planning
Members 353,000 (2017)
Number of employees
1,100 (2017)
Website peopleschoicecu.com.au/

People's Choice Credit Union is one of Australia’s largest credit unions, offering loans, credit cards, transaction and savings accounts, financial advice and insurance.

With over 1,100 employees, $10.2 billion of funds under management and advice, 357,000 members, 41 branches and 5 advice centres and a network of more than 3,000 rediATMs across Australia,[2] People’s Choice Credit Union offers an alternative to the ‘big four’.

Created through the merger of Australian Central Credit Union and Savings & Loans Credit Union in December 2009, People’s Choice Credit Union’s origins date back to 1949.[3]

People’s Choice Credit Union is involved socially and economically with its members and the wider Australian community. This involvement takes many forms, including:

  • Corporate social responsibility (CSR) partnerships with Cancer Council SA, The Big Issue, Riding for the Disabled, HeartKids and Life Without Barriers;
  • The People’s Choice Community Lottery, which has raised more than $16 million for thousands of not-for-profit organisations;
  • Employee fundraising and volunteering, with more than $62,500 raised and 2,360 hours volunteered by hundreds of staff throughout 2015/16;
  • Sponsorship of major community events, such as the Credit Union Christmas Pageant, the People’s Choice Classic as part of the Santos Tour Down Under and People’s Choice BASSINTHEGRASS [4]

History[edit]

It has merged with a number of other credit unions in its history, including the Northern Territory Credit Union.[5] In August 2009, it announced plans to merge with another credit union, Savings & Loans,[6] with the first post-merger branch opened in December 2010.[7]

On 27 June 2011, members of the credit union voted to change the name to People's Choice Credit Union,[8] this change was adopted on 18 July 2011.[9] Ironically, the members of Australian Central Savings and Loans were not given a list of names to choose from, and instead were given a Hobson's choice.[10] They were given one name at a time, in ignorance of any other possible names, until there were enough votes to approve the name they were asked to vote about.[11] The first name proposed was People's Credit Union.[12] This name failed. The second name proposed was People's Choice Credit Union which passed the vote in the 27 June meeting.[13]

Awards[edit]

People’s Choice Credit Union has been recognised with numerous awards for its products and services, including:

  • Mozo 2017 People’s Choice Awards for Highly Trusted and Staff Friendliness
  • Credit Union of the Year in the 2016 and 2014 Roy Morgan Customer Satisfaction Awards
  • Mozo 2016 Experts Choice Award for Car Loans and Term Deposits
  • CANSTAR’s 2016 First Home Buyer Customer Owned Institution of the Year – SA
  • 2013, 2014 and 2016 CANSTAR First Home Buyer Award in South Australia
  • 2013, 2014 and 2015 CANSTAR First Home Buyer Award in the Northern Territory (discontinued in 2016)
  • Mozo 2015 Experts Choice Awards in the New Car Loan and Used Car Loans categories
  • Mozo 2015 People’s Choice Awards as one of Australia’s Top 5 Credit Unions and for Savings Accounts

References[edit]

  1. ^ https://www.peopleschoicecu.com.au/about-us/news-centre/2015/steve-laidlaw-appointed-peoples-choice-ceo/
  2. ^ https://www.peopleschoicecu.com.au/about-us/our-story/
  3. ^ "'Our story'". People's Choice Credit Union. Retrieved 27 October 2014. 
  4. ^ "'In the community'". People's Choice Credit Union. Retrieved 27 October 2014. 
  5. ^ "Merger brings $7.2m profit for Australian Central Credit Union". ABC News. 18 February 2002. Retrieved 16 November 2009. 
  6. ^ McDonald, Sarah (13 August 2009). "Savings & Loans, Australian Central Credit Union Plan to Merge". Bloomberg. Retrieved 16 November 2009. 
  7. ^ Emmerson, Russell (2010-12-07). "First branch of merged credit union". adelaidenow. Retrieved 2012-06-06. 
  8. ^ 27Jun2011. "People's Choice Credit Union - Members approve People’s Choice Credit Union". Peopleschoicecu.com.au. Retrieved 2012-06-06. 
  9. ^ 15Jul2011 (2011-07-18). "People's Choice Credit Union - Launch of People’s Choice Credit Union". Peopleschoicecu.com.au. Retrieved 2012-06-06. 
  10. ^ "here&now". Savingsloans.typepad.com. Retrieved 2012-06-06. 
  11. ^ "here&now". Savingsloans.typepad.com. Retrieved 2012-06-06. 
  12. ^ "here&now". Savingsloans.typepad.com. Retrieved 2012-06-06. 
  13. ^ Booth, Meredith (2011-06-27). "Australian Central Savings & Loans now People's Choice". adelaidenow. Retrieved 2012-06-06. 

External links[edit]