Community CPS Australian was formed in March 2006, after the merger between CPS Credit Union (SA) Ltd (CPS SA) and CPS Credit Union Co-operative (ACT) Ltd (CPS ACT).
CPS ACT was founded in 1960 and was Canberra’s largest financial institution to originate from the city, serving the local community for more than 40 years.
CPS SA was established in 1958 by one of the main Commonwealth Public Service Unions - the Administrative and Clerical Officers Association. In 1986, CPS SA merged with Railroad Savings and Loans Society, which dramatically increased the size and total assets of the union.
The two unions made the decision to merge based on rapidly growing competition in the Australian financial services industry. Both unions were market leaders with similar backgrounds and wanted to maintain their powerful positions, which could be secured through joining forces.
Community CPS is now one the largest credit unions in Australia, providing services to its 175,000+ members and 600+ employees across 21 Personal Financial Centres, managing $2.5 billion in assets.
Community CPS offer a vast range of financial products and services to suit all of its members needs, which includes savings accounts, business accounts, loans, Insurance and financial planning.