By Chris Franks, A Director of Australian National Credit Union (ANCU).

Chris Franks

Credit Unions are fundamentally committed to bringing about social and human development through socially responsible activity in the community - local, national and international. Commitment is expressed in various ways depending upon member interests and geographical coverage of the credit union. This may include support for various charitable causes, donations to community appeals, sponsorship of youth or employment initiatives and many more.

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A perfect example is that of my own Credit Union, Australian National, which established First Nations Australian Credit Union in 1999, an initiative to create an independent credit union owned and operated by Aboriginal people, explains Chris Franks, Director of Australian National Credit Union (ANCU).

First Nations has over 300 members in some of the most remote regions in Australia. It has been extremely successful in addressing the specific financial needs of Indigenous Australians. First Nations has had the support of various government agencies and Indigenous sporting personalities. Chris highlights the benefits and some of the barriers facing credit unions today.