We’re excited to officially announce that on 22 February 2020 the new North Queensland Stadium will open as Queensland Country Bank Stadium. This date will mark a moment of significance for our financial services group in more ways than one as it is also the date we begin our transition from a credit union to a member-owned bank.
Our Group CEO, Aaron Newman, advised that the change to bank status will have little impact for existing Members, but will raise awareness of the organisation and the range of products we offer amongst the general public.
“Despite our ongoing success, our research suggests that many people in the community don’t understand the term credit union and remain more likely to choose a bank for their major financial needs. By changing to a member-owned bank, we keep the focus we’ve always had on our Members and communities, but we will gain exposure to a whole new market of consumers that may not have otherwise considered us,” he explained.
Several credit unions have recently made the move to convert to become member-owned banks in the past few years, with our transition being the latest. Almost 30 organisations that have already made the change have all done so for similar reasons – to continue growing their memberbase, increasing their relevance to younger consumers and addressing the perception that deposit funds are safer in banks than credit unions.
“As an organisation, it’s important that we keep growing and evolving so we can remain relevant and assist more people live better lives through better financial and health services,” Mr Newman added.
The change in name will commence on 22 February 2020 with the rebranding of a number of key branches and our organisations website, with all branches to be operating under the Queensland Country Bank name by May 2020.
“With 28 branches stretching from Stanthorpe in the south to Weipa in the north and west as far as Mount Isa, it will take a couple of months to update all branch signage,” Mr Newman explained.
Mr Newman said acquiring the naming rights to Queensland Country Bank Stadium at the same time as the change to become a bank was perfect timing and an opportunity to not only show the organisation’s support for the North Queensland community, but gain invaluable brand exposure throughout the state.
“Our head office is in Townsville so partnering with Stadiums Queensland regarding the naming rights for such a significant piece of local infrastructure was a wonderful opportunity for us to demonstrate our commitment to the local community. We’re genuinely excited that our local stadium will be named after a locally owned and operated business. That said, we also believe that acquiring the naming rights for Queensland Country Bank Stadium will provide significant exposure for our new brand and assist our growth plans right across the state,” he said.