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Cuscal launches new identity

14th December, 2005

Credit Union Services Corporation, the key commercial/wholesale provider and industry association for a majority of Australia’s credit unions, has today launched a new market identity to reflect an emphasis on expanded business opportunities.

From Credit Union Services Corporation (Australia) Limited to Cuscal - the business will now include non-credit union customers through expanded services that will position Cuscal to gain new business in financial services provision.

The key drivers for this change include the continuing consolidation of the credit union sector; the need to expand the business offerings to non-credit union financial service providers; grow revenues for the business; and continue improving returns for shareholders.

Changes to Cuscal's corporate structure will now allow non-credit unions to become shareholders and allow the business to acquire non-credit union customers.

This new focus has necessitated a review of the brand, company cultural and business procedures. Through a brand and operation review, the Cuscal Board and executive have agreed to transform and re-position the brand and the business for growth that will include income from non-credit unions.

While this is a major shift in Cuscal's business focus, the company is cognisant of its heritage. Our history and commitment to the credit union core values (cooperation, moral integrity, trust, financial prudence, caring for members, and social responsibility), will ensure that new growth and business, are competitive yet focused on customer needs.

The two key business operational areas following the brand review are: Cuscal and the Credit Union Industry Association (previously known as the Credit Union Services Corporation (Australia) Limited Industry Association.

• Cuscal will open operations to non-credit unions, for example, the Treasury division is now positioned to hold funds for a range of financial service providers, including credit unions, other small ADIs, funds managers, and mortgage originators.
• The CUIA will continue to be the leading advocate for credit unions and other mutual financial service providers.

The implementation of the new Cuscal brand is more than simply changing the brand imagery and corporate symbols. It requires fundamental change in terms of Cuscal’s people and their service delivery, organisational reporting and profitability measures, internal and external communication, customer and supplier engagement, product development and delivery and even recruitment.

Further information:

Julie Sheather
Media Relations Manager
Cuscal Limited
t: 02-8299 9024