Credit unions and building societies changes

One of the consequences of a change of name by a credit union or building society to include “bank” is that APRA removes the entity from its credit union or building society lists to its bank list.

Since September 2011, 7 credit unions and 1 building society have transferred from APRA’s credit union and building society lists to its list of Australian-owned banks.

As a result, APRA has moved statistics for mutual banks from the CUBS statistics to its bank publications.

Here are the Australian-owned mutual banks

Defence Bank Limited
Heritage Bank Limited
mecu Limited (trading as bankmecu)
Police Bank Ltd
Police & Nurses Limited (trading as P&N Bank)
QT Mutual Bank Limited
Teachers Mutual Bank Limited
Victoria Teachers Limited (trading as Victoria Teachers Mutual Bank)

APRA is proposing to replace its current separate publications with Quarterly ADI Performance Statistics (QADIP) from late May.

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