We are excited to announce that we are now MOVE Bank! Members can expect to see our new logo appearing on the website and in print over the next few weeks.
This exciting change came into effect on 7 May 2018, in response to recent changes to legislation governing financial institutions.
Why the change?
Until recently the Australian Prudential Regulation Authority (APRA) limited the use of the word bank even though credit unions, building societies and banks are all subject to the same stringent regulations.
The restriction was removed on 4 May 2018, providing MOVE with an unprecedented opportunity to add the word bank to our name.
CEO Therese Turner says the decision to include the word bank makes sense on many levels.
“Previously we’ve used the phrase, “people driven banking” to describe ourselves. Apart from being a bit of a mouthful, it didn’t fully explain what we do – which is providing banking products and services”.
“Changing our trading name to MOVE Bank allows us to tell people clearly and simply what we do”.
The decision is supported by research that shows most people don’t know what a credit union is.
“The new name is a critical factor as we continue to reach new people within the industry we serve. Being able to say we’re the bank for rail, transport and logistics employees means people instantly understand who we are and how we can help them,” said Therese.
Committed to mutuality
While our name may have changed, our commitment to mutuality remains as strong as ever.
“MOVE Bank remains customer-owned and we will continue to put the needs of members first in everything we do,” Therese confirms.
“We see the name MOVE Bank as a paving the way for future growth and are excited about the opportunities this change will bring”.
If you have any questions about our new name, please don’t hesitate to contact us on 1300 362 216 or by emailing us at info@mymove.com.au
