Thursday, February 11th, 2010
Leading credit union, Community CPS Australia, has posted strong results for the first half of the 2009/10 financial year, further boosting member confidence following a challenging 18 months in the financial services industry.

Reporting an after tax profit of more than $10 million and underlying earnings of $9.34 million for the first half of the financial year, the credit union has exceeded forecasts and is well positioned for the 2009/10 financial year.

Community CPS Chief Executive Officer, Kevin Benger, said while the credit union’s 2008/09 financial results had been solid in light of the challenging economic climate and costs absorbed due to the organisation’s merger with Western Australia’s United Credit Union, he was pleased to record such strong mid year figures.

“As a mutually owned organisation we work hard to deliver maximum value to our members, and our strong performance to date during this financial year will enable us to continue delivering excellent outcomes for our 180,500 members.

“Community CPS’ good start to the financial year is largely due to the increase in new lending, continued low delinquency rates on loans, and a recovery in the equities market, resulting in stronger wealth management income.”

The credit union has reported $368 million in new lending since 1 July 2009, and has increased its capital adequacy to 16.1 per cent in six months as a result of sustained, long term profit growth.

“Our recent merger with Hunter Valley-based, Companion Credit Union, which came into effect on 1 January 2010, has seen Community CPS further develop its national reach and create further opportunities,” said Mr Benger.

Further media information please contact:
communikate et al – (08) 8331 1444
Nicole Maley-Randall – [email protected] or 0403 423 765
Silvia Knoppien – [email protected] or 0415 182 856

Contact Profile

Silvia Knoppien

P: 08 8331 1444

Community CPS Australia

Community CPS Australia is one of the country’s leading credit unions. With more than 180,500 members, Community CPS employs 540 staff across branches in South Australia, the Australian Capital Territory and regional New South Wales, and operates as United Community in Western Australia and Companion Credit Union in the Hunter Valley region. The credit union has $2.85 billion worth of assets under management. For more information visit



credit union; profit; financial results; Community CPS; Kevin Benger;



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