Transact Credit Union Corporation Community Branch in Millmerran

As a small, close-knit rural town in the Darling Downs, Millmerran residents were used to receiving personalised customer service, where people knew each other by name. However, for all of the fantastic businesses available, there was something missing from the town – a place where locals could access a full range of banking services on their doorstep. At the time, many rural banks were closing down so the community looked for a way to secure a bank in Millmerran for the long-run.

That’s where Transact Credit Union Corporation came in. Transact Credit Union offered Millmerran residents an opportunity to have a local bank run by a local team through their Community Branch model. Better yet, as a Community Branch, profits are distributed back to the community in the form of Community Grants. These grants are used to support charities, sporting clubs and other local organisations.

Local investors represented by Millmerran Community Company raised $130,000 as their share of capital to form a joint-venture with Transact Credit Union Corporation. And in March 2007, Transact Credit Union Millmerran Community Branch opened.

• Eliminating travel to do the banking
• People are more likely to spend their money locally
• Competitive rates and products
• Longer trading hours than the major banks
• A better return for investors
• Profits going back to the community