About Us

The merger between Pulse Credit Union, La Trobe University Credit Union and Melbourne University Credit Union took effect on October 1, 2011 and we now operate as a network of 4 branches and 2 agencies in Victoria.

What is a Credit Union?

A Credit Union is a member-owned Approved Deposit Taking Institution (ADI) set up and run on co-operative principles for the benefit of its members. Often the members of a Credit Union are drawn from the same industry, social, religious, ethnic or community groups. This is known as a Membership Bond. Pulse Credit Union’s membership bond in the past was taken from employees within the health service industry, employees and students from The University of Melbourne, La Trobe University and their immediate family. Today we have an open bond, which simply means we allow friends and extended family of our members to join, whilst continuing to maintain a high profile within the health services and education industries.

What is the difference between a Bank and a Credit Union?

Both are ADIs and regulated in exactly the same manner. Credit Unions are owned by, and run for the benefit of its members. A bank on the other hand, in offering services to its customers, is seeking to generate profits for its owners/shareholders. The difference then is simple; a bank must have the interest of its owners - the shareholders as it’s top priority. A Credit Union has the interest of its members - who are its owners and customers as its top priority. This alone is a great reason to choose a Credit Union over a bank any day.