SYDNEY, Australia – Non credit-union members have been targeted for financial services by the Credit Union Services Corporation of Australia, Ltd. (CUSCAL). Under the new business plan they will allow non-credit unions to become share holders, but they have also stated that the move will not diminish their commitment to core credit union values including “cooperation, moral integrity, trust, financial prudence, caring for members, and social responsibility,” according to an announcement by Peter Hansen, outgoing CUSCAL PR & Media Manager. Among the new services will be a Treasury Division that will hold funds for various financial service providers such as fund managers and mortgage originators. The move was undertaken to “grow revenues for the business and continue improving returns for shareholders,” Hansen stated. The shift in focus is more than cosmetic. Internal shakeups will require new staff with different skills at most levels of the organization. Credit unions will still have an advocate in the division called the Credit Union Industry Association (CUIA). [email protected]

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