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.

Nominations are called for positions on the Board of Directors of the Credit Union.

In accordance with the Credit Union Constitution, Belinda Henry and Alvaro Lozano are due to retire as Director(s) at the end of the Annual General

Meeting of the Credit Union to be held on Tuesday the 24 November 2020 at the Southern Cross Credit Union office, Level 2, 38-42 Pearl Street, Kingscliff commencing at 4pm. Ms Henry and Mr Lozano are eligible, and will be standing for re-election.

Nomination forms are available from the Returning Officer, Paul Gallagher of BDO Auditors, Level 10,12 Creek Street Brisbane, QLD 4000.
Completed nomination forms must be in the hands of the Returning Officer by 5.00 pm on Tuesday 20 October 2020.

Authorised by
BA Myles
Company Secretary
On behalf of the Board of Directors
Southern Cross Credit Union Ltd ABN 82 087 650 682 AFSL 241

  • 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