A letter to the members of Australian Military Bank
Dear Member,
Welcome to a very special edition of the July Communiqué.
It is with great delight that myself and the Board of Directors of Australian Defence Credit Union Limited (ADCU), invite you to consider a proposal to change our name to Australian Military Bank Ltd.
Becoming a bank will offer many benefits. It will more clearly communicate who we serve and what we do. We increasingly find young Defence recruits do not necessarily understand what a credit union is, whereas the term ‘bank’ is generic and readily understood. The use of ‘bank’ in our name is also likely to assist our wholesale funding operations and expand our recruitment pool of future staff.
To find an appropriate name, we commissioned independent market research focussing on the thoughts and opinions of those in the ADF. There was overwhelming support amongst ADF members (both existing and non Australian Military Bank members) for the name ‘Australian Military Bank’. ADF personnel saw the proposed name as patriotic, easily understood and inclusive of all three services.
Even though the name of the organisation will change, Australian Military Bank will remain true to our values. We are committed to remaining a member owned organisation, we are dedicated to the Defence community and we will remain a strong, secure financial institution.
To become a bank, ADCU needs to seek approval from you our members. Members will be asked to vote at our General Meeting. If members approve the change, we will aim to launch with our new name and brand to market on Tuesday, 1st December 2015.
The Board unanimously recommend this name change. We would like your support to become Australian Military Bank Ltd and encourage you to vote ‘YES’ either by proxy or at the General Meeting on Wednesday, 28 October 2015.
RADM Clinton William Thomas AM, CSC, RAN – Chairman