Transact Credit Union Corporation Director to stand down after nine years’ service

15 April 2021

Transact Credit Union Corporation Director David Thorpe today announced his decision to step down from the Board, with next week’s monthly meeting to be his last.

Mr Thorpe has sat on the Board of the Toowoomba-based Transact Credit Union Corporation for almost exactly nine years, having been appointed a Director on 18 April 2012.

Mr Thorpe served on the Board’s Finance Committee and Audit Committee, and has been Chair of the Risk and Compliance Committee since 2014. 

He brought a wealth of experience in the finance industry to his role at Transact Credit Union, having previously been Chief Executive Officer of the United States Association of Permanent Building Societies for over 20 years as well as holding executive positions in both the private and public sector.  

Mr Thorpe said the genuine commitment of everyone at Transact Credit Union to the members they served, despite the challenges of a rapidly changing environment, made him proud to have served on the Board.

“We have seen many changes in the 30 years I have been in the finance industry - increased technology, products, competition and compliance, as well as challenging economic cycles and the pandemic,” Mr Thorpe said.

“Two things stand out for me at Transact Credit Union Corporation: the skill, adaptability and collaboration of the people; and the genuine customer service ethic of the Board and staff.  These qualities in particular have made it a pleasure and privilege to be a Director of the Bank.” 

Transact Credit Union Corporation Chairman Mr Kerry Betros thanked Mr Thorpe for his dedicated service.

“David has made an outstanding contribution to Transact Credit Union during his time on the Board,” Mr Betros said.

“He is absolutely committed to the ideals of the customer-owned movement and that ethos shone through in his decision-making on the Board.

“David was meticulous in his approach to the role of Director and was always extremely well briefed and informed on the issues we faced. 

“Transact Credit Union benefitted immensely from his wise counsel and deep expertise in the financial industry, particularly in his leadership of our Risk and Compliance Committee.”

Transact Credit Union will not immediately appoint a new Director to fill the vacancy left by Mr Thorpe’s departure. They will take the time needed to identify a suitable replacement with the right skills and capabilities to help take Transact Credit Union forward.