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Media release

Credit Union SA embraces growing digital era and removal of fees to meet new member needs.

4 Mar 2019

Emerging digital finance and banking technologies are changing the financial industry’s traditional service structures. As Australians continue the move towards more convenient, cashless banking services, Credit Union SA has sought feedback from members who now expect low fees, good rates, extended hours of support and more digital banking services.

“From the beginning, Credit Union SA has been motivated to do more for South Australians. Now, with over 60 successful years of history and experience to guide us, we are embracing the future to do even more,” said Credit Union SA Chief Executive Grant Strawbridge.

“Fewer of our members are using branches and ATMs. Instead, they’re opting for tap-and-go and managing finances on mobile phones or online.”

“To better reflect the contemporary needs of our members and the broader community, we are increasing the focus on our digital transformation and a realignment of our services so we can continue to be a relevant and vibrant mutual organisation for years to come.”

Credit Union SA Chief Executive Grant Strawbridge.

“Our financial standing is stronger than ever, and visible in our base of 50,000 plus members, 150 employees, and more than $1 billion worth of assets. Now is the perfect time to embrace change for a stronger future,” said Mr Strawbridge.

As part of organisation’s evolution, this year will see the closure of Credit Union SA’s metropolitan branches at Edwardstown, Golden Grove and Morphett Vale on 31 May 2019 and the withdrawal from the rediATM scheme from 30 June 2019.

“Bricks and mortar will continue to have a place for Credit Union SA. The soon-to-be refurbished and centrally located King William Street branch and member contact centre will be the heart of our organisation and will ensure we continue to create deeper and more meaningful member relationships,” Mr Strawbridge said.

“Although we recognise we will inconvenience some members as we adapt and adjust to our new structure, these closures more accurately reflect the contemporary needs of most of our members and the broader community. Our new and modern digital banking service is proof that we are a progressive mutual organisation that does its best to respect and protect its members, staff, community and other stakeholders.”

2019 will also see the organisation’s withdrawal from the rediATM scheme from 30 June. The removal of direct ATM fees in late-2017 by the major banks means the original purpose of the rediATM network is obsolete as members now have access to more fee-free ATMs throughout Australia. 

“Exiting the rapidly shrinking rediATM scheme will save the organisation money, which we will channel back into better products, rates and support. Since the removal of direct ATM fees, our members have been able to withdraw from over 10,000 fee-free ATMs, including Commonwealth Bank, ANZ, Westpac, NAB and BankSA,” Mr Strawbridge said.

From 1 April 2019, Credit Union SA will be removing all transaction fees and removing all withdrawal fees from savings accounts to directly benefit members. 

“We’re fiercely proud of our place in South Australia because it has been earned through a genuine passion for doing more and making people’s lives better. And one of the most rewarding ways to do that is by making things more affordable and removing fees,” said Mr Strawbridge

Access to cash is also available at Credit Union SA’s King William Street branch, Bank@Post at participating Australia Post outlets, and thousands of EFTPOS terminals in South Australia.

Staying accessible in a modern era. 

“Strong values create strong organisations, and even stronger connections. As a values-driven organisation, Credit Union SA’s drive to do more is a natural instinct that ensures we’re constantly searching for innovative ways to connect and enhance the lives of each member at every stage of their life.” said Mr Strawbridge.

“Our members matter most, and as digital technologies continue to grow, our members will continue to have choices when it comes to accessing Credit Union SA. Our mobile banking app, PayID and using digital wallets via smart phones are fast becoming the norm. But the human touch should never be underestimated.” 

Credit Union SA’s King William Street branch and member contact centre is open longer, including Saturdays. Phone, App and Internet Banking will also continue to be enhanced to ensure there are convenient services available. 

“The changing needs of our members will continue to evolve in the years ahead. Our ability to adapt, be pro-active and forward-thinking is helping South Australians do more with their money, and creating a brighter future. Our staff will maintain our personal touch and preserve a service culture that is engaging, responsive and supportive.”


About Credit Union SA

Credit Union SA is a South Australian based member-owned financial institution with over 50,000 members and more than $1 billion worth of assets. It is the third largest credit union in South Australian and offers full range of financial services, including transaction and savings accounts fixed term investments, home loans, personal loans, credit cards and insurance.

For more information contact Finn Miller, fmiller@creditunionsa.com.au, (08) 8202 7566.

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