STRONGER
TOGETHER
STRONGER
TOGETHER
Supporting you when it matters

Annual Report 2020

CUA is proud to present to members our Annual Report for the financial year ending 30 June 2020.

This report highlights our performance and achievements, and reflects our steadfast commitment to members. Reporting against our four strategic pillars – Scalable, Great Experiences, More Members and Adaptable – the report reveals how our purpose informs and drives our support for members. When we keep member needs at the heart of what we do, we are stronger together.

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A message from our CEO & Chairman

Against the backdrop of significant economic, health, environmental and social challenges this year, we have remained unwavering in support of our members. We’ve invested in the long-term foundations and technology that will ensure we can continue to provide our members with the services they need - today and tomorrow.

Paul Lewis
CEO
Nigel Ampherlaw
Chairman

Chapter 1

Scalable Solutions

Government reforms that have paved the way for mutuals to access capital will significantly expand our opportunity to grow and innovate. This will build upon the foundations for scale we’re already putting in place, like investing in technologies that streamline our processes and improve our member experience.

Chapter 2

Great Member Experiences

We have invested in improving digital banking experiences, continued our commitment to personalised service, and launched support packages for those in need of financial assistance. We’ve also kept a clear eye on the future, ensuring our improvements can meet the evolving needs of our members, today and tomorrow.

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  • Better online banking
  • Financial assistance packages
  • Increasing member satisfaction

Chapter 3

Reaching More Members

We’ve succeeded in introducing more Australians to the benefits of customer-owned banking this year thanks to new products, community initiatives, strategic partnerships and collaboration between industry and government. We achieved strong net growth of 19,000 customers, despite challenging external conditions, and now support the banking, general insurance and health insurance needs of over 568,000 Australians.

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Chapter 4

An Adaptable Organisation

The past year has been marked by significant upheaval, from natural disasters to the COVID-19 pandemic. In shaping our response to these challenges, we have drawn on our strength and our adaptability to send a clear message – we’re here to support you.

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