member profile

As at 30 June 2010, there were 142,877 members at mecu. mecu members come from various different communities including the traditional sectors of education, energy and utilities, government, and science as well as key geographic regions including Gippsland and North West Victoria.

mecu's Victorian member base expanded significantly during 2009/10 as a result of mecu's merger with RegionalOne Credit Union and Maroondah Credit Union, changing the geographic spread of mecu significantly.

Figure 4a: Geographic distribution of mecu's members

Region Account Holders  Percentage
VIC 81,708 57.2%
Gipps 28,854 20.2%
NSW 7,132 5.0%
QLD 12,224 8.6%
ACT  4,541 3.2%
SA 1,442 1.0%
WA 1,476 1.0%
TAS 711 0.5%
NT 325 0.2%
Other  4,454 3.1%
Total 142,867* 100.0%

 * 10 accounts missing postcodes.

As at 30 June 2010:

  • 47.77% of account holders were aged between 25 years and 55 years (2008/09: 50.85%)
  • 35.39% of account holders were aged 56 years or older (2008/09: 33.57%); and
  • the average age of mecu's membership was 45 years (2008/09: 45).

mecu members, in line with the general Australian population, are ageing. 

With an ageing membership base, it is envisaged that in the future the demand for investments and financial planning will increase in proportion to the demand for lending. This has prompted mecu to consider a strategy to attract and retain a larger younger market as the foundation for a future where the demand for deposit and loan products is more balanced.