At 7.30pm on 17 July 1967, in a canteen at the Small Arms Factory in Lithgow, a number of employees were meeting with the intention of forming a credit union for the benefits of the workers of the Small Arms Factory. From this meeting, some 50 years ago, the Small Arms Factory Employees (SAFE) Credit Union was born.
From these humble beginnings, 50 years on, we now have an operation that:
(a) has $125 million in assets
(b) has 4 branches in Lithgow, Mudgee, Blackheath and Bathurst
(c) employs over 20 people within these 4 communities
(d) looks after the financial needs of almost 10,000 members
(e) gives away approximately $30,000 in community support grants and social dividends annually
In addition to this we also celebrate 20 years as Family First Credit Union after name changes from Small Arms Factory Employees (SAFE) Credit Union (1967 to 1975) and Lithgow Mutual Credit Union (1975 to 1997).
It is right that we celebrate the achievements of Family First Credit Union established over the 50 years of its operations however also take the opportunity to thank all those that have contributed to its successes, namely staff who have worked hard over the years in delivering professional and friendly service over the years, directors who have served on the board setting great strategic direction for the organisation, and lastly but not least, the members who have supported the credit union by their loyalty and by trusting Family First Credit Union to provide them with their financial needs.
Well done to all .... and happy birthday Family First Credit Union !!!
The 2017 Community Support Grants Program has been finalised for another year with Family First Credit Union assisting 45 local community organisations with funding grants totalling $22,250.
Chief Executive Officer of Family First Credit Union was very priveleged to give back to the community and thank the efforts of hard working committees of organisations that provided benefits to the four communities Family First Credit Union operates. "Through this Community Support Grants Program it not only allows Family First Credit Union to exercise its role in being a socially responsible corporate but it also allows us to assist these community organisations to contine doing the great work that they do and also publicly thank them for the great work that they do. Whether they be community groups providing services or support for people with ill health, disadvantaged in some way or having undergone a life changing event, sporting clubs encouraging participation and healthy living, educational or cultural groups of people with common interests, it is people that represent these organisations that make the communities the great communities that we live in".
Morning teas are held at all four locations which are hosted by staff and directors and cheques are presented to the individual recipients. At these functions, all recipients give a verbal presentation of what the funds are to be utilised for and what the funding means to them. It has been a great honour for us to host these morning teas and hear the great work done by the recipients out in our communities.
6th June, 2017
Customer owned banking continues to outperform 4 Majors
The customer owned banking sector is outperforming the major banks in home loan growth, underlining its status as a strong, competitive alternative to the majors.
Latest figures from APRA show total assets in the customer owned banking sector exceeded $106 billion in the March Quarter.
Housing loans from the customer owned banking sector achieved a quarterly growth rate of 3.1%, compared to the Major banks’ 1.2%. Over the last 12 months, customer owned banking has achieved housing loan growth well ahead of the major banks and regional banks.
“This performance is a credit to our sector,” COBA CEO Mark Degotardi said. “We encourage Australians to visit our Check Out the Competition website to learn more about the customer owned banking alternative. These results have been achieved while competing against a number of unfair advantages. They include funding cost advantages major banks receive flowing from the implicit guarantee provided by taxpayers and unfair regulatory capital settings. What today’s results show is that customers are increasingly choosing a customer owned banking alternative that puts them first.”
Customer owned mutual banks, credit unions and building societies:
o Are all Authorised Deposit-taking Institutions (ADIs), just like the big 4.
o Bring a fundamentally different model to the market, a model where customer interests always comes first.
o Have market-leading customer satisfaction ratings, highly competitive pricing and community focus.
“To find out more about the strong alternative offered by customer owned banking, visit checkoutthecompetition.com.au”
For more information please contact:
Daniel McDougall, Senior Manager – Media and Communication
02 8035 8444 or 0407 637 541, firstname.lastname@example.org
Customer Owned Banking Association is the industry body for credit unions, building societies, mutual banks and friendly societies. See www.customerownedbanking.asn.au