Increase font size Decrease font size

Our History

Attention: open in a new window. Print

The history of Macquarie Credit Union Limited
1964 Macquarie Credit Union was formed by electricity workers of Macquarie County Council in December.
1967 The rules of the credit union were changed to allow employees of Municipal Councils to join which further assisted the credit unions growth at the time.
1972 The rules of the credit union were changed again to allow employees of hospitals within the Macquarie County Council area to become members.
1974 A merger with the Dubbo Municipal Council Employees Credit Union was completed.
1980 A merger with the Warren Shire Council Employees Credit Union was completed.
1996 The Western Area Electricity Departments were merged into Advance Energy which greatly increased the geographical area that we could attract members from.
2001 The Northern, Southern and Western NSW electricity departments were merged into Country Energy which again increased the geographical area that we could attract members from.
In the same year we launched Country Energy Credit Union, (a division of Macquarie Credit Union) to further strengthen our ties with our founding electricity workers in NSW.

A merger with Dubbo Post-Tel Credit Union was completed which then broadened our membership base to Electricity, Council, Health, Post Office and Telstra employees in NSW.

2011 The NSW State Government announced the sale of the electricity and gas retail business of Country Energy to Origin Energy along with the Country Energy name. The distribution network (poles and wires) in NSW that supply electricity to properties was renamed Essential Energy remained NSW government-owned. The Credit Union launched the re-name of Country Energy Credit Union to Essential Energy Credit Union (a division of Macquarie Credit Union) to maintain our unique relationship and remain true to our founding electricity workers in NSW.
2013 The Credit Union consolidated it's branding and established itself as one entity, Macquarie Credit Union with a new image, bright and colourful logo and re-engineered website. The constitution was changed to offer membership to everyone in the Dubbo Local Government area providing wider local support and community involvement.
2015 The Credit Union moved to it's current location at 165 Brisbane Street Dubbo.
2016 The Credit Union changed the constitution to offer membership to everyone residing in the local government areas of Narromine, Gilgandra, Warren, Cobar, Coonamble, and Nyngan. While the Credit Union continues to grow beyond its traditional bond partners it will always remain defined by them through its proud heritage.

The Credit Union Movement

World Council of Credit Unions

World Council of Credit Unions is the global trade association and development agency for credit unions and financial cooperatives. On behalf of its member organisations, World Council advocates for appropriate legislation and regulation on global and national levels. World Council promotes sustainable credit union development around the world to empower people through access to high quality and affordable financial services.

  • 87,914 credit unions in 118 countries on 6 continents serving over 393 million people
  • 12.69% penetration
  • $2.9 trillion in savings & shares (USD)
  • $2.1 trillion in loans (USD)
  • $295 billion in reserves (USD)
  • $3.4 trillion in assets (USD)

World Council of Credit Unions information sourced from 2021 Statistical Report on November 25, 2022.

Australian Credit Union Statistics

Customer Owned Banking Association is the industry advocate for Australia’s customer owned banking sector.It is owned by its member institutions including:

  • 34 credit unions
  • 31 mutual banks
  • 1 building societies

As at November 2022, the customer owned banking sector has combined on-balance sheet assets of $147 bn and serving more than 4.5 million members.

  • Collectively, credit unions, mutual banks and buildings societies are the fifth largest holder of household deposits in Australia.
  • Credit unions, mutual banks and building societies are customer-owned entities, operating under the mutual principles of one member one vote, an equal share in the say of the organisation and with the purpose of member and community benefit at the forefront of their operations.

Strong Regulation

All credit unions, mutual banks and building societies are Authorised Deposit-Taking Institutions (ADI’s), regulated under the Banking Act. We meet the same high standards of prudential regulation as banks with full regulatory oversight. The Government has guaranteed deposits at all ADI’s.

Competitive Advantage

The mutual structure means no tension between servicing customers and external shareholders – customers are also the owners of their ADI.

Customer owned banking institutions are better placed than most to satisfy key needs of consumers, that is:

  • Member focus
  • Sense of community / belonging
  • Honesty and integrity
  • Guidance
  • Simplicity
  • Competitive pricing


The customer owned banking sector is sound and secure


Customer Owned Banking information sourced from Nov 2022


If you have any questions, please contact us Contact Us

Looking for a fee-free ATM?