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Members of Queensland Police Credit Union (QPCU) have voted overwhelmingly in favour of removing the term ‘credit union’ from the company’s name.
Nearly 90 per cent of voting members approved the change from Queensland Police Credit Union Limited to QCPU Limited at the lender’s annual general meeting on Friday.
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The move allows QPCU to apply through APRA to use the term ‘bank’ in a new trading name.
QPCU chief executive Grant Devine said the name change is an exciting chapter in the company’s history.
“It’s extremely pleasing to see our members show such strong support for the direction that we are taking the business,” he said.
“We have put a priority on keeping our members highly engaged throughout this process, and will continue that as we progress to research a new trading name and brand identity.”
The move follows a number of important business initiatives undertaken by the lender, including receiving its first Standard & Poor’s issuer credit rating and entry into the third-party channel.
Over the past 12 to 18 months, QPCU has focused on steadily growing its penetration outside of the Queensland Police Service, including the Queensland Fire and Emergency Services, Queensland Ambulance Service, and Queensland Health and Corrective Services segments.
“Our organisation has been providing financial services to those who look after Queensland for more than 50 years, and these initiatives are all about growing our business into the future,” Mr Devine said.
“The current financial services market is as competitive as I’ve ever seen it, and we have recognised very early that we need to continue innovating to stay competitive.”
[Related: QCPU launches online lodgements]
