QUEENSLAND, Australia–QPCU, chartered as Queensland Police Credit Union, has announced it will be changing its name to QBANK on July 1 2016. QPCU’s member-owned structure, eligibility and board will remain unchanged, however.
QPCU CEO Grant Devine said the name change was about clarifying its position in the competitive lending landscape.
“The term ‘credit union’ doesn’t mean as much to people these days, and we believe our new trading name will clearly explain what we do and who we serve,” Devine told local media. “We’ve been looking after police, fire, health, justice and other government employees for decades, so we believe the name ‘QBANK’ helps us better represent all of the members we serve.”
Over the past 12 months, QPCU reports it has grown its loan portfolio by almost 20% with member growth the strongest it is has been in several years, and recently entered mortgages through a partnership.
“We want to continue that trend and this change will help to make sure the business is even more sustainable and successful long into the future,” Devine said.
