mecu is the largest and most successful credit union in Victoria with a fifty year history. It is recognised nationally and internationally for its socially and environmentally responsible approach to banking and aims to be the pre-eminent socially responsible bank in Australia.
1n 2009 mecu was voted Credit Union of the Year in the AFR Smart Investor Blue Ribbon Awards. Member satisfaction rates sit at 93% and staff satisfaction sits at world best practice levels.
mecu has achieved a number of world firsts, which help its members to make a difference on environmental and social fronts. It was the first financial institution to price its car loans according to energy efficiency of the vehicle. mecu also offsets the greenhouse gas emissions of the vehicle for the life of the loan.
mecu was the first financial institution globally to provide biodiversity offsets on home loans for new home constructions. The offset involves regenerating and protecting habitat of high conservation value for the endangered Red-tailed Black Cockatoo. This is done on two properties in its award winning Conservation Landbank located in Victoria’s West Wimmera.
Community Investment Program:
mecu is committed to providing up to 4% of its budgeted after tax profits to support community investment. The program’s objective is to support activities that are contributing to the resolution of economic, social and environmental problems within communities.
Affordable and Community Housing:
mecu is supporting a number of organisations involved in addressing Australia’s housing affordability issue. It offers finance to the community housing sector, in order to build quality built homes which offer safe, secure and affordable housing to people with genuine need.
Professional Development – Education Sector
This year (2009/2010) MECU supported the Victorian Department of Education and Early Childhood Development in two programs designed to improve the capacity of leadership in the school community (both academic and business administration).
mecu also provides financial support in the Latrobe Valley and other areas in need for a schools breakfast program which serves up to seventy thousand school breakfasts annually to students who would otherwise go hungry.