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What does it take to be Credit Union of the Year?

It was a case of eleventh time lucky for Gateway Credit Union at the Australian Banking and Finance Awards as it walked away with the 2012 Credit Union of the Year Award.

Gateway CEO, Paul Thomas, said that after a decade of being nominated it was gratifying to win the coveted award. “Gateway is on track to record around 15 per cent growth in its mortgage book – over two-and-a-half times system growth. One of the drivers of this growth has been the rise in loans originated via our partnerships with Yellow Brick Road and Mortgage Choice.”

But aside from strong growth, what does it take to be the Credit Union of the Year? Thomas explains:

Key Differentiator
There is nothing we offer that the banks do not provide. In our David and Goliath battle against the Big Four banks, we can’t out research and develop them and we can’t out produce them. But we can provide a more personal, caring and intimate level of customer service and this provides our competitive advantage.

Sacred Cow
Gateway is unique but it must change. In changing we must be careful not to throw out the baby with the bathwater. We have to remain true to the dreams of our founding fathers while simultaneously stimulating progress in everything that is not part of our core ideology. We have captured this paradox in the operating statement: Constantly changing while forever staying the same.

Modus Operandi
We offer simple and transparent products – if we can’t explain a product in 30 seconds, then it’s not a good product. We see contented staff and simple products as a winning formula in a crowded marketplace. Creating the right environment for employees maximises their potential for providing excellent member service. 

Thomas sees the award as a triumph for Gateway’s staff and management. “The award underscores why Gateway is now one of Australia’s major credit unions and why the industry perceives us as a market leader. It confirms the strength of our product offerings, direction and strategy. We have continued to innovate, expand and turn in a profit in a challenging environment,” said Thomas.

Search by topics or types
Select Topics
Select Types

What does it take to be Credit Union of the Year?

It was a case of eleventh time lucky for Gateway Credit Union at the Australian Banking and Finance Awards as it walked away with the 2012 Credit Union of the Year Award.

Gateway CEO, Paul Thomas, said that after a decade of being nominated it was gratifying to win the coveted award.  “Gateway is on track to record around 15 per cent growth in its mortgage book – over two-and-a-half times system growth. One of the drivers of this growth has been the rise in loans originated via our partnerships with Yellow Brick Road and Mortgage Choice.”

But aside from strong growth, what does it take to be the Credit Union of the Year? Thomas explains:

Key Differentiator
There is nothing we offer that the banks do not provide.  In our David and Goliath battle against the Big Four banks, we can’t out research and develop them and we can’t out produce them.  But we can provide a more personal, caring and intimate level of customer service and this provides our competitive advantage.

Sacred Cow
Gateway is unique but it must change. In changing we must be careful not to throw out the baby with the bathwater. We have to remain true to the dreams of our founding fathers while simultaneously stimulating progress in everything that is not part of our core ideology.  We have captured this paradox in the operating statement: Constantly changing while forever staying the same.

Modus Operandi
We offer simple and transparent products – if we can’t explain a product in 30 seconds, then it’s not a good product. We see contented staff and simple products as a winning formula in a crowded marketplace. Creating the right environment for employees maximises their potential for providing excellent member service. 

Thomas sees the award as a triumph for Gateway’s staff and management. “The award underscores why Gateway is now one of Australia’s major credit unions and why the industry perceives us as a market leader. It confirms the strength of our product offerings, direction and strategy.  We have continued to innovate, expand and turn in a profit in a challenging environment,” said Thomas.