Community First Credit Union is celebrating 60 years of operation in 2019, after starting as the Sydney Water Board Officers Credit Union Co-Op with just 63 employees
Since 1959, Community First has focused on building financial relationships that deliver on its promise to benefit members through standards of service superior to its competitors, fairer fees and competitive interest rates on savings and loans.
The intergenerational model of people-helping-people has stood the test of time. As a small group of employees sat around a table in 1959 to help their colleagues access finance, they would not have imagined their organisation today would have grown to over $1 billion in assets and 15 stores, plus an online presence and app capability.
Always a genuine banking alternative
The recent banking royal commission and numerous government enquiries into the financial services sector have repeatedly demonstrated the stark difference between a customer-owned banking alternative such as Community First and the banks. “The banks strive to deliver benefits primarily to their shareholders rather than their customers.
“When you bank with a customer-owned bank like Community First, there is never a conflict between shareholders and customers because they are one and the same,” said John Tancevski, CEO of Community First Credit Union.
A true member of the community
Community First Credit Union also stands apart from the big banks with its genuine support for the local community.
John said, “At Community First our members’ needs are our top priority, and we demonstrate this with a strong track record of supporting initiatives to benefit the community in which our members live and work.” For example, our partnership with the McGrath Foundation is now in its 10th year and via the McGrath Pink Visa debit and credit cards, we have raised over $814,000 for the foundation.
Embarking on our 60th year
As we commence our 60th year of operation, we’ve taken the opportunity to refresh our brand, so you may have begun to notice some changes to our brand.
We’re proud of our heritage of people helping people. We’re all about our members, and we’re focused on continuing to deliver products for your life, service you deserve and value for money.
For a summary of our first 50 year journey, click here.