Local, Independant and Effective

WAW: a local community organisation

Posted June 07, 2013

 

As a teacher at Galen College in Wangaratta in 1979 I first opened my WAW Credit Union Bank account. I have been an active member ever since. WAW is a licensed, deposit taking institution, guaranteed by the Australian Government and operates under the watchful eye of APRA.

Credit Unions and Building Societies are great organisations and play an important role in rural communities.  They are totally owned by members.  All the profits go back to our communities.
WAW* has 13 branches,  20,000 members and over $300,000,000 - yes that's right three hundred million dollars in deposits.  WAW has branches in towns where there are no other "Banks" such as Chiltern and Walwa as well as the regional centres of Wangaratta and Wodonga. We employ 75 people and I am very proud to have been a director for 9 years.

On the last Tuesday of the month the 8 Directors meet with senior management for our formal monthly Board Meeting.  Last night we discussed the budget for next year as well as buildings and infrastructure. And once a month we meet for Continuing Professional Development to make sure we are across all the changes in the financial industry.

If you are interested in knowing more about this great Indi community initiative check out the WAW web site: www.wawcu.com.au


*  WAW - Wodonga, Albury, Wangaratta or as I was told by a young staff member - we are wonderful.