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Corporate Governance


Police Credit Union is committed to high standards of corporate governance.

We believe this is a cornerstone to our ability to deliver on purpose and strategy. We recognise that reliability and trust is at the core of everything we do and that our purpose, values and culture set the foundations for good conduct under the Financial Claims Scheme.

The Corporate Governance Statement outlined in the 2023 Annual Report provides an overview of Police Credit Union’s governance framework, current as at 28 September 2023.

Our values and purpose

Our vision is to be the credit union that best understands and fulfils the financial aspirations of Members and our people.

Our core values of superior service, honesty, integrity, and financial prudence reflect the essential beliefs and culture of the business. Our purpose is to improve our Members’ lives by providing outstanding value and service that enables them to achieve their financial aspirations.

Our Constitution and our Board

Our Constitution

Our current Constitution can be viewed here.

Our Board

Police Credit Union’s Board is responsible for providing strategic guidance of the Credit Union by maintaining strong corporate governance principles underpinned by positive ethics, values and behaviour.

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Customer Owned Banking Code of Practice

We align our values with the Code

The Customer Owned Banking Code of Practice is the code of practice for Australia’s credit unions, mutual building societies and mutual banks. It’s an important public expression of the value we place on improving the financial wellbeing of our individual customers and their communities.

We are proud to be a customer owned organisation, where our Members are our shareholders. We put our Members first by reinvesting 100% of our profits back into the business to continue to provide market-leading, highly competitive products and services. We are committed to remaining innovative, resilient, sustainable, values driven and relevant in delivering a customer experience that is second to none, as we strive to support our emergency services, important wider community and environmental initiatives.

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Ethical standards

The Police Credit Union board acknowledges the need for, and continued maintenance of, the highest standards of ethical conduct by all directors and employees of the Police Credit Union Group. Our Code of Ethics handbook contains a comprehensive overview of expected behaviours and expectations, and is issued to all staff as part of induction, and as part of the annual ongoing training calendar.

The Code of Ethics policy statement provides a framework to guide interactions within the Group, with customers, suppliers, stakeholders and the community. Our core values are superior service, honesty, integrity and financial prudence. These core values, as well as our strategic direction, have been incorporated into the Code of Ethics that has been endorsed by the Executive Management Committee and adopted by the board.

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Policies and documents

Police Credit Union has a clear policy framework to guide decision making and conduct across the organisation.

Read our policies:

Read our documents:

Risk management and assurance

Police Credit Union has established a robust risk management framework and risk management strategy to ensure a coordinated approach to managing risks that is consistent with achieving our policy and strategic and operational objectives. As detailed in our risk management framework, Police Credit Union follows accepted standards and guidelines for managing risk to safeguard the interests of the Credit Union and depositors, and to manage the overall cost of risk.

When referring to our risk management framework, Police Credit Union is referring to the totality of systems, structures, policies, processes and people within the organisation that identify, measure, evaluate, monitor, report and control or mitigate all internal and external sources of material risk.

Whilst the Board is ultimately responsible for Police Credit Union’s risk management framework, our general philosophy is that risk management is an integral part of the management function and is the responsibility of management at all levels. We have a strong focus on staff training in identifying and managing risks, which is updated regularly and completed annually. In assessing strategic initiatives, Police Credit Union employs a balanced and well considered approach and ensures that any associated risks are commensurate with the risk reward equation and Police Credit Union’s appetite for risk.

Environmental and social sustainability

Police Credit Union’s Environmental and Social Sustainability Policy outlines our commitment to expanding the scope of our environmental impact initiatives, including enhancements centred around greenhouse gas emissions, waste and pollution. In addition, this policy commitment provides guidance in the implementation of social sustainability initiatives incorporating relevant key entity factors including workforce and diversity, safety management, and community involvement, both of which strengthen Police Credit Union’ strategic effectiveness in achieving positive environmental and corporate social responsibility outcomes.

The Community, Environment and Employee Engagement and Diversity (CEEED) Committee reports to the Board and Remuneration and Governance Committee and is responsible for overseeing the implementation of ongoing initiatives which reflect Police Credit Union’s commitment to community, social responsibility and the environment.

Read more about our commitment to community and the environment.

Annual reports

Click the image to read the report

2023 Annual Report
2022 Annual Report
2021 Annual Report

Regulatory disclosure

Remuneration Disclosures

Download the regulatory disclosure documents in full as at:

Workplace Gender Equality Agency Reporting

Each year, Police Credit Union is required to submit a Workplace Gender Equality Report to the Australian Government Agency created by the Workplace Gender Equality Act 2012 (Act).

To view the public reports, visit the links below.