Beyond Bank Australia

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Beyond Bank Australia Ltd
Beyond Bank Australia
TypeBank
IndustryBanking
Headquarters
Adelaide
,
Australia
ProductsRetail banking
Total assets7072 million (2020)
Members246,029[1]
Number of employees
650
Websitebeyondbank.com.au

Beyond Bank is an Australian customer-owned bank operating in South Australia, the Australian Capital Territory, Western Australia and New South Wales. It provides financial services to its members including savings and business accounts, term deposits, loans, insurance and financial planning, and has total assets under management of more than $5 billion. It is a certified B Corp.

History[]

  • In March 2006, Community CPS Australia Ltd was formed in a merger between the Commonwealth Public Servants Credit Unions - CPS Credit Union (SA) Ltd and CPS Credit Union Co-operative (ACT) Ltd.
  • In November 2008, Western Australian based United Credit Union Ltd and Westax merged with Community CPS and carried on business under the name United Community.
  • In May 2009 the Polish Community Credit Union also merged with Community CPS.
  • In January 2010 Hunter Region-based Companion Credit Union merged with Community CPS.
  • In June 2011 Wagga Mutual Credit Union, based in the Riverina NSW, merged with Community CPS.
  • In 2012 Community CPS was named Money Magazine's[2] Credit Union of the Year 2012 and awarded the 2012 Mozo[3] People's Choice Award for Best Credit Union.
  • In August 2013 Community CPS became a mutual bank called Beyond Bank Australia.[4]
  • In April 2016 Country First Credit Union, based in Griffth, merged with Beyond Bank Australia.
  • In May 2016 Beyond Bank Australia acquired Universal Financial Planning in the Hunter region.
  • In June 2016 Beyond Bank Australia became a certified B Corp.
  • In February 2018 My Credit Union, based in NSW, merged with Beyond Bank Australia.
  • On 17 February 2020, an overwhelming 93.4% of votes cast by Nexus Mutual’s members at a Special General Meeting (SGM) were in favour of the transfer resolution. Nexus Mutual and Beyond Bank formally merged on 1 March 2020 and system integration took place on 7 June 2020.
  • A Memorandum of Understanding between Beyond Bank & South West Mutual CU was signed on Friday, 29 October 2021. The merger has passed due diligence and both Beyond Bank and South West Mutual Credit Union have submitted the required documents to gain regulatory approval. The proposed merger date is Friday, 1 April 2022.

Subsidiaries[]

Trading as Beyond Bank Australia Wealth Management and headquartered in Norwood, South Australia, Eastwoods Wealth Management Pty Ltd offers financial planning services as a subsidiary of the bank.

See also[]

References[]

  1. ^ Beyond Bank Australia. "2018 Annual Report" (PDF). Retrieved 21 November 2018.
  2. ^ Money Magazine's Archived 28 October 2013 at the Wayback Machine
  3. ^ Mozo
  4. ^ "About Us | Find out more about Beyond Bank Australia| Beyond Bank". www.beyondbank.com.au. Retrieved 6 November 2016.
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