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2018 Annual General Meeting

4 Dec 2018

The 2018 Credit Union SA Annual General Meeting was held on 21 November at the Adelaide Pavilion, Veale Gardens, Adelaide.

The 2018 Credit Union SA Annual General Meeting was held on 21 November at the Adelaide Pavilion, Veale Gardens, Adelaide.

The AGM provides members with an opportunity to hear from the Credit Union’s Chair and the Chief Executive Officer on the performance of the Credit Union throughout the previous financial year as well as an overview of the current environment and the Credit Union’s strategic focus.

For members who could not attend, a copy of the Chair’s and CEO’s addresses, director profiles and a copy of the 2018 Annual Report can all be found at

The 2018 AGM agenda included the receipt and consideration of the Financial Report and the Reports of the Directors and Auditor for the financial year, and voting on the Board’s proposed changes to the Credit Union’s Constitution. As a result of the postal ballot and show of hands, the motion was carried.

As a result of the Credit Union calling for nominations from Members to be considered in the 2018 Director Election, there was one candidate for the one position on offer and that candidate satisfied the eligibility criteria to be a Director of Credit Union SA Ltd. Our Chair, Ms Carolyn Mitchell was the only eligible candidate who nominated and was appointed as an elected director of Credit Union SA for a three year term.

Year in Review

Credit Union SA’s performance in the 2017/18 financial year has remained strong and consistent in a highly competitive market.

Through prudent financial management and a targeted product range, the Credit Union continued its year-on-year growth across all portfolios and momentum continued in the attraction and retention of new members.

Looking ahead

We are planning for the 2018/19 period to continue to be a challenging one, with continued record low interest rates, a highly competitive market for lending and deposit products, and a heightened level of scrutiny by regulators flowing from the Royal Commission.

An example of an evolving area within financial services is the ‘neo-bank’. These banks are completely digital and designed with great customer service in mind, and are building capability to allow themselves to innovate at a pace previously unseen.

This is obviously a challenge for traditional authorised deposit-taking institutions, such as Credit Union SA, to continue our focus on delivering what customers are asking for digitally, but providing a human touch.

Thank you

I would like to take this opportunity to thank our loyal members and Credit Union SA staff for your continued support. I wish you all a safe and prosperous New Year.

Grant Strawbridge

Chief Executive Officer