At Southern Cross Credit Union, we're a customer owned financial institution, meaning we work for the benefit of our customers and communities. Below is a snapshot of how we operate.

  • Shareholders

    We’re an unlisted, Public Company and as a Customer Owned Financial Institution, our customers are our shareholders.

  • Our Board

    Our Board is made up of five independent, non-executive directors and one executive director. Each board member and their activities are governed by our constitution. The Board is responsible for our corporate governance including monitoring SCCU on behalf of our customers and meets at least eight times per year.

    Meet our Board
  • Board Committees

    The board operates several committees to ensure responsibilities to our constitution and corporate governance are met.

    • Risk Committee
    • Audit Committee
    • Remuneration Committee
    • Directors Nomination Committee
  • Regulators

    As a financial institution, our main regulator is the Australian Prudential Regulation Authority (APRA). APRA oversees the banking and financial services industry, including compliance with the Banking Act 1959 (Cth) and APRA’s Prudential Standards.

    We are also regulated by:

    • The Australian Securities and Investments Commission (ASIC), which oversees compliance with the Corporations Act 2001 (Cth) (including Part 2 regarding consumer protection in relation to financial services), the National Consumer Credit Protection Act 2009 (Cth), and the terms of our Australian Credit Licence and Australian Financial Services Licence; and
    • The Australian Transaction Reports and Analysis Centre (AUSTRAC) which oversees the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth).
  • Auditing

    We conduct internal quarterly audits and the results are reported to the Board. We engage internal and external auditors –

    • KPMG are our internal auditors
    • BDO Audit Pty Ltd are our external auditors