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New CU headquarters Pleases Australian Town

GOLBURN, Australia - Golburn is celebrating the creation of new jobs when the Police Credit Union moves its headquarters from Sydney in late November. The town lost several jobs when the Telstra's call center laid off 18 people and GHAS laid off nine. Another smaller lay off is anticipated from...

By Staff Writer | Updated on November 15, 2005

GOLBURN, Australia – Golburn is celebrating the creation of new jobs when the Police Credit Union moves its headquarters from Sydney in late November. The town lost several jobs when the Telstra’s call center laid off 18 people and GHAS laid off nine. Another smaller lay off is anticipated from Country Link. Hiring for at least 19 posts is going on during November. The relocation is costing the credit union AUS$1.7 (US$1.25) million. The credit union has assets of AUS$368 (US$272) million and a net profit after tax of AUS$2.35 ($1.74) million. It has 37,000 members mostly in South Australia and the northern territories. The move was aided by the NSW Government’s Regional Business Development Scheme (Scheme is used in place of the word plan or program in many Anglophone countries). The 41-year old credit union operates nine branches. It was originally started for members of law enforcement, but is now open to anyone who wishes to join. The credit union often has been cited in national polls for its top member service.

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