CUA recruits for expansion

Alan Beanland has joined the board of CUA as Australia's largest credit union prepares for further expansion.

Beanland is the current chairman of the big superannuation administration vendor, Superpartners, which is aligned with the industry super funds. Prior to 1990 he managed Colonial's superannuation business subsidiary, Jacques Martin Pty Ltd, the forerunner of Superpartners. During the nineties Beanland was regional managing director of Colonial Ltd's Asian financial services business, CMG Asia, which is now owned by Commonwealth Bank.

CUA chairman Kevin Ross says the organisation sought out Beanland after deciding on the kind of expertise they needed to meet the challenges of the future.

"Those challenges include sourcing funds, growth, the need to improve our services and increasing regulation," said Ross yesterday.

"Alan has retail financial management experience; he is an independent director and worked with Colonial when they were a mutual."

Growth means swallowing up more little credit unions and expanding the product range, according to Ross.

"Yes, we are in the market for growth by merger - with other mutuals only of course - or acquisition and organic growth of our own, there are efficiencies in scale and we will continue to look for ways to provide better services effectively.

"In due course we will be looking at adding to the range of services we offer. Now we are in financial planning, insurance, and health insurance. We are always looking for products or services that will help us meet our member needs."

Might that include some kind of experiment with the not-for-profit super funds?

Ross says only that he values Beanland's links with the superannuation sector highly.

"Yes, definitely, Alan's contact and long history with super and administration are important."