Police Association Credit Co-operative Limited
Encyclopedia
Police Association Credit Co-operative Limited (commonly known as Police Credit) is a credit union
in Australia. It was founded in 1974 by a group of Police officers and has been servicing members for more than 30 years.
Police Credit offers a wide range of financial services to specific sectors of the community – police, emergency services, the health industry and government departments, as well as families and friends. In 2011 Police Credit reported that the organisation has 91,000 members. The organisation employs 120 staff and has $1 billion (Australian) in assets under management
.
Police Credit is wholly owned by its members, who are all equal shareholders.
Police Credit was awarded runner-up in the 2010 Mozo People’s Choice Awards for Best Credit Union in Australia.
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
in Australia. It was founded in 1974 by a group of Police officers and has been servicing members for more than 30 years.
Police Credit offers a wide range of financial services to specific sectors of the community – police, emergency services, the health industry and government departments, as well as families and friends. In 2011 Police Credit reported that the organisation has 91,000 members. The organisation employs 120 staff and has $1 billion (Australian) in assets under management
Assets under management
Assets under management is a financial term used denote the market value of funds being managed by a financial instutition on behalf of its clients, investors, depositors, etc. This metric is a sign of size and success against competition...
.
Police Credit is wholly owned by its members, who are all equal shareholders.
Police Credit Philosophy
As a co-operative, Police Credit is not focused on profits or paying dividends to shareholders. All profits from Police Credit products and services are reinvested into the organisation for members to directly benefit. Their key responsibility is to help members achieve a more secure financial future.Police Credit was awarded runner-up in the 2010 Mozo People’s Choice Awards for Best Credit Union in Australia.