It comes as the organisation celebrates 20 years in business.
In what started as a request by Traditional Owners in Arnhem Land for banking services in 1994, the Traditional Credit Union has grown from one branch in Milingimbi to a network of 17 across the far reaches of the Northern Territory.
It is Australia's only Aboriginal credit union owned by and run for Aboriginal people.
Traditional Credit Union CEO Cathy Hunt said the
establishment of a new branch in Tennant Creek reflected growing demand for its
services.
“We’re very excited to open our doors in Tennant Creek and provide local Indigenous people with new and culturally relevant banking services and products, and employment and training for their future,” Ms Hunt said.
The
Traditional Credit Union currently services more than 7
400 members, many of whom live in remote communities.
“We play a vital role in the communities that we operate and
are often the only financial institution for hundreds of kilometres,” Ms Hunt
said.
“We help people with their personal banking needs, as well
as provide business banking solutions, financial counselling and education
services, and community sponsorship.”
TCU provides stable employment and career development for
people in remote communities where job prospects are often limited.
“We currently have 85 staff (78 per cent are
indigenous) across our branches in communities from Wadeye to Numbulwar
and the Tiwi Islands .
“We are very proud of their and TCU’s achievements, and look
forward to continuing to providing banking solutions and employment for
indigenous people into the future.”
The
Traditional Credit Union branch in Tennant Creek is located at 135
Patterson Street and will be open to customers from Monday, 17 March
2014.
