Putting principles into practice

Since 1984, Maleny Credit Union has fostered sustainable development in the Maleny district. From humble beginnings in a rented room, the credit union has grown steadily. MCU now has 4500 members and over $41 million in assets.

Investors choose MCU because we invest only in projects that fit our ethics.
We do not discriminate between investors. All investors receive the same rate of return. We encourage small investors with our low $2000 minimum fixed term deposit and high interest on our Serious Saver and E Saver Accounts from as little as $1.
We have low fees and no minimum balance requirements on regular savings accounts.
We are a secure institution regulated by the Australian Prudential Regulation Authority.

Borrowers choose MCU because we believe in giving everyone a fair go and will lend to people on low incomes who might be rejected by other financial institutions.
While this may seem risky, our prudent lending policies and close relationship with members have ensured our loans in arrears are in line with the industry average.
We have special lending rates for projects that benefit the wider community.

People choose MCU because we are an ethical financial institution and we put our ethics into practice.
We donate up to 10% of profits to the community.
We strive to operate in a socially and environmentally friendly way. We also pay an eco-tax to Barung Landcare on every ream of paper we use.

Our Vision

We aspire to lead by example to advance social change for community benefit.
The Maleny Credit Union creatively balances its business operations with the practices of ecological and economic sustainability.
Our reason for being is to offer appropriate and ethical financial solutions to our members in ways which are:

• socially just
• environmentally responsible
• empowering to the local community and individuals
• based on a belief in people, honesty and good will.

Our Operating Principles

Voluntary and open membership
Membership is open to all who agree with our operating principles and who accept the rights and responsibilities as outlined in our Membership Charter. We do not discriminate on the basis of age, race, nationality, gender or religion.

Democratic member participation
Each shareholding member has one vote at a credit union General Meeting, regardless of the amount of savings or deposits or the volume of business.

Freedom of information
The credit union has open communications within the organisation and with members while maintaining the privacy of individual members' details.

Community
The credit union's activities are directed to improving the economic and social wellbeing of the local community and its cultural heritage.

Cooperation
The credit union cooperates with organisations at local, national and international levels in order to achieve our vision.

Autonomy and independence
The credit union provides service to members as a cooperative enterprise. It is autonomous within the framework of the law and industry supervision. Our prime concern is to build financial strength, including adequate reserves and internal controls that will ensure continuous service to members and the community.

Member economic participation
Any surplus arising out of the operations of the credit union, after allowing appropriate reserve levels, is directed to improving or adding services to members, the credit union or the community.

Education
The credit union actively promotes education in economic, social, democratic and mutual self-help principles and ecological sustainability.

Ecological sustainability
The credit union's operations and policies support the conservation of the natural environment, endangered ecosystems and the use of appropriate technology and resources. In so doing, we minimise waste, pollution and inappropriate land use.

Our Ethical Features

From its inception, Maleny Credit Union has always worked for social justice, environmental responsibility and local community and individual empowerment.

A sustainable level of profit is set by the Board of Directors each year. We then look to reinvest to improve member services and any retained earnings are owned by the members.

Our vision is translated into reality by our ethical features:

We do not seek maximum return at any cost.
Our major investment is in loans to our members. Surplus funds are invested where we are confident that its use is in keeping with our ethics.

We do not discriminate between investors
All investors receive the same rate of return on funds regardless of the amount invested.

We encourage small investors with a minimum of $2000 for fixed term deposits and high interest rate on our Serious Saver and E Saver Accounts.
Our interest rates are competitive with other financial institutions.

We do not discriminate between borrowers
We believe in giving all members a fair go. Our lending policies are prudent but not as discriminatory as other financial institutions.
The majority of lending funds remain in the district, where they help local people and local enterprise.
The credit union supports only projects that comply with its ethics.

We are committed to maintaining low fees and charges for our members
Please refer to our Schedule of Fees and Charges for more information.

We assist worthwhile causes
Every year up to 10% of profits are donated to the community to assist in projects that meet our ethical and environmental guidelines.
MCU helps the formation of credit unions in developing countries. We work with community organisations to stimulate employment opportunities providing micro-credit for business enterprises to assist people with self-employment.

We are a secure financial institution
MCU is a company supervised by the Australian Prudential Regulation Authority.

We comply with the Consumer Credit Code and the Code of Practice
These codes set operating standards for credit unions that protect the interests of members.
Our autonomy means that we are more responsive to members' needs than banks.

We own our own building
We own our own building and have built up a healthy reputation as a viable and ethical financial institution over our 23 years of operation.