Since the 1980s the number of Australian credit unions has declined from more than 700 to under 40 (December 2019).

Credit unions are mutually owned financial institutions and their first point of business is to serve members rather than to maximize profits. Australian credit unions collectively hold over $45 billion in assets, employ over 7,000 people and serve more than 3.5 million customers through approximately 900 branches across the country, although New South Wales is home to the bulk of these with about 45% of all branches. The two major players in the sector are Credit Union Australia and People's Choice Credit Union. They provide a full range of banking products and services including personal and home loans, low interest car loans, savings accounts, credit and debit cards, life and general insurance, internet banking, international money transfer, foreign exchange and payment services. Typically, credit unions charge less than the major banks in loan interest and offers attractive deposit rates.

List of Credit Unions 2019

Australian Central Credit Union (trading as People's Choice Credit Union)
Central Murray Credit Union Ltd
Central West Credit Union Ltd
Coastline Credit Union Limited
Community First Credit Union Ltd
Credit Union Australia Ltd
Credit Union SA Ltd
EECU Limited (trading as Nexus Mutual)
Family First Credit Union Limited
Fire Service Credit Union Limited
First Choice Credit Union Ltd
Goulburn Murray Credit Union Co-operative
Horizon Credit Union Ltd (trading as Horizon Bank)
Hunter United Employees' Credit Union
Illawarra Credit Union Limited
Laboratories Credit Union Limited
Lysaght Credit Union Ltd
Macarthur Credit Union Ltd (trading as THE MAC)
Macquarie Credit Union Limited
MCU Ltd (Maleny Credit Union)
Northern Inland Credit Union
Orange Credit Union Limited
Police Credit Union Limited
Pulse Credit Union Limited
Queensland Country Credit Union
Railways Credit Union (trading as MOVE)
South West Slopes Credit Union Ltd
Southern Cross Credit Union Ltd
South-West Credit Union Co-Operative
Summerland Financial Services (trading as Summerland Credit Union)
The Broken Hill Community Credit Union Ltd
The Capricornian Ltd
Traditional Credit Union Limited
Transport Mutual Credit Union Limited
Warwick Credit Union Ltd
WAW Credit Union Co-Operative Ltd

Updated as of December 29, 2019

Top Credit Unions in Australia

Rank Name State Assets (A$m, 2015) Deposits (A$m, 2015)
1 Credit Union Australia QLD 11,990 7,780
2 People's Choice Credit Union SA 6,895 4,986
3 Qantas Credit Union NSW 3,127 2,820
4 Bananacoast Community Credit Union NSW 1,463 1,304
5 Queensland Country Credit Union QLD 1,205 1,075
6 Community Mutual Ltd NSW 1,084 947.938
7 Australian Defence Credit Union (ADCU) NSW 1,069 911.916
8 Gateway Credit Union NSW 1,046 702.453
9 Credit Union SA SA 877.497 781.558
10 Maritime, Mining & Power Credit Union NSW 815.371 719.044
11 Sydney Credit Union NSW 810.311 722.218
12 Police Credit Union Limited SA 777.960 697.173
13 Community First Credit Union NSW 764.667 689.015
14 Queensland Police Credit Union QLD 656.759 564.805
15 Summerland Credit Union NSW 602.787 538.329
16 Railways Credit Union
(now MOVE | People Driven Banking)
QLD 590.691 529.705
17 Community Alliance Credit Union NSW 541.060 495.842
18 Holiday Coast Credit Union NSW 527.900 481.500
19 WAW Credit Union Co-operative VIC 407.985 377.428
20 Southern Cross Credit Union (SCCU) NSW 376.400 327.027
21 Select Credit Union NSW 334.293 290.328
22 Queenslanders Credit Union Limited QLD 332.064 287.487