People’s Choice Credit Union this year celebrates 70 years of helping its members achieve their financial goals.
People’s Choice traces its history back to the establishment of the South Australian Public Service Savings and Loans Society on April 28, 1949. Longstanding member Max Potter-Medwell, who joined in 1953, said joining the credit union was vital to borrow money to buy a house or essentials like a washing machine.
Max Potter-Medwell, People's Choice member since 1953
“You couldn’t get money in those days, so joining Savings & Loans helped everyone out,” Mr Potter-Medwell said. “I put in 10 shillings a fortnight from my pay… We would never have otherwise been able to borrow money in those days.”
Mr Potter-Medwell now uses BPay for bills and reconciles all of his accounts.
The organisation changed its name to Savings and Loans Credit Union (SA) in 1994 before merging with Australian Central Credit Union, which tracks its own heritage back to the formation of ABC Mutual Credit Union (SA) in 1960. This 2009 merger created today’s People’s Choice Credit Union, Chief Executive Officer Steve Laidlaw said.
“After 70 years, we are proud to have grown through incorporating so many member-based organisations – including NRMA Employees Credit Union, Northern Territory Credit Union, Whyalla and Adelaide United Credit Unions and Snuggery Mutual Credit Union – but those opportunities have been only a part of our growth over the years, with the vast contribution coming from a focus on delivering competitive products and services for our members."
“Any 70-year stretch will see an organisation change significantly."
“We started with 131 members and £2,637 in assets under management. Today, we have more than $10.5 billion in assets and funds under management, and a membership base of more than 365,000 people across Australia.”
“We have also seen banking move from passbooks to passwords, and seen cash replaced with apps. It is a huge step for an industry, and one that People’s Choice has been proud to be part of." You can register for Internet Banking and download our Mobile Banking Apps from our website.
Not a member yet? Click here to switch to People's Choice.
