Credit Unions in Victoria

Below is a list of current and former credit unions in the state of Victoria. Melbourne is the capital of state, with a population of over 5 million.

EECU Limited – A credit union with more than 6,000 customers in Australia and abroad. In 2017, it launched a new brand - Nexus Mutual.

Central Murray Credit Union provides financial products in North East Victoria and Southern New South Wales. It offers personal and business accounts, term deposits, consumer loans, insurance, payment services, debit cards, and mobile and online banking. It is headquartered in Yarrawonga, a town on the south bank of the Murray River.

First Option Credit Union, rebranded to First Option Bank in 2018, is a member-owned financial institution with $250 million in assets and $230 million in deposits.

Goulburn Murray Credit Union, based in Shepparton, is part of the communities of central Victoria. GMCU has branch locations in Violet Town, Seymour, Numurkah, Mooroopna, Kyabram, Kilmore, Euroa, Echuca and Benalla. The CU's members have access to cash fee free rediATM network with more 3,000 ATMs. Secure banking with app for iPhone and Android is available.

Pulse Credit Union, based in Melbourne, offered products and services through four branches and agency in Victoria. It was founded in 1976 and merged with Teachers Mutual Bank in November 2021.

Austral Credit Union Ltd, founded in 1969, merged with Savings and Loans Credit Union (SA) in 2008.

AWA Credit Union, established in 1969, changed its name to AWA Mutual Limited in March 2015. AWA Mutual is an agent of Bendigo and Adelaide Bank.

Big Sky Credit Union, founded in 1971, merged into LifePlan Australia Building Society in 2012.

Defence Force Credit Union Ltd, incorporated in 1975, was rebranded to Defence Bank in 2012 and currently operates around 40 branches across Australia.

La Trobe University Credit Union Co-Operative was founded in 1971 and merged with Pulse Credit Union in 2011.

Maroondah Credit Union, founded in 1959, was acquired by Mecu Ltd in August 2009.

Members and Education Credit Union (Mecu) changed its trading name to Bankmecu on September 1, 2011 and became the first customer-owned bank in Australia. In August 2015, it was rebranded to Bank Australia.

Melbourne University Credit Union, incorporated in 1970, provided deposit and lending products, investments, insurance, online banking, foreign exchange and other services. It was acquired by Pulse Credit Union in October 2011.

Old Gold Credit Union Co-Operative, founded in 1971, was deregistered in 2017.

RegionalOne Credit Union Limited, headquartered in Bendigo, was established in 1971. It was acquired by Mecu Ltd, a Victoria's largest credit union, in 2009.

South-West Credit Union (previously Warrnambool & District Credit Co-operative) was established in 1964 and today serves more than 13,000 customers. It merged with Beyond Bank Australia in April 2022.

Victoria Teachers Credit Union, founded in 1972, changed its name to Victoria Teachers Mutual Bank (today known as Bank First) in 2012.

WAW Credit Union Co-operative serves over 25,000 customers in North East Victoria and Southern New South Wales through branches in Wodonga, Beechworth, Chiltern, Corryong, Moulamein, Myrtleford, Lavington, Yackandandah Tallangatta, Walwa, and Wangaratta, among others. Currently, it trades as BankWAW.

Woolworths Employees' Credit Union – An authorised deposit-taking Institution with $117 million in total assets and $100 million in deposits.

Updated as of March 30, 2023