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Business Principles

WAW's vision, mission, and business principles which have guided our growth.

Business Principles

WAW VISION STATEMENT

'To be the best value provider of smart banking services to the communities we serve'

WAW Credit Union is a mutual financial services company committed to being the best value provider of smart banking products and services. All levels of our organisation will strive to deliver smart solutions that empower and improve the financial position of our members and the community in which we serve. While WAW Credit Union will not always be the best individual product or service price in the market, we will aim to be the best overall price for the total product and service offering.

OUR PURPOSE

'To operate a responsive, values-driven, co-operative financial institution that provides financial and community benefits to members and the region in a sustainable manner'

Definition of the important elements:

  •  Responsive
    Rather than just provide a product and service to the member, we work with our members to meet their financial needs which we see as ongoing and central to our culture.
  •  Values-driven
    Areas of differentiation that determine the decision process of how the Credit Union operates.
  •  Co-operative
    Founded on the nine International Operating Principles demonstrating the democratic structure and the social goals of Credit Unions.
  • Financial and Community Benefits
    A state of economic and social well-being based on the unique ‘people helping people’ principles where members genuinely feel their prosperity improving through their involvement with and in the Credit Union products and services.
  •  Members
    Our owners are not just customers or clients. A unique relationship results in increasing loyalty between the members and the Credit Union because they belong to us and we belong to them.
  • Region
    Our geographical area of operation that is made up of unique regions of communities that value the benefits of a co-operative approach to supporting the needs of each community.
  • Sustainable Manner
    Ensure the Credit Union continues to operate in a sustainable manner in servicing the ever-changing needs of its membership
 

OUR 4BL APPROACH

We are a member-owned financial institution that measure ourselves like few others, based on a series of policies which we refer to as our 4BL (4 Bottom Lines). Although other organisations talk about Triple Bottom Line reporting, WAW was one of the first financial institutions in Australia to extend the traditional TBL model to 4BL.

WAW CORE VALUES

  •  Co-operation
    WAW Credit Union will actively promote and develop behaviours that support co-operative principles within all the stakeholder groups of WAW Credit Union. Ensure the Credit Union continues to operate in a sustainable manner in servicing the ever-changing needs of its membership
  • Moral Integrity
    WAW will always engage in activities that comply with the expressed and implied requirements of the relevant laws and codes.
  • Trust
    WAW will actively promote and develop behaviours that build an environment of trust within all the stakeholder groups of WAW Credit Union.
  •  Financial Prudence
    WAW will always operate and facilitate decisions with the protection of its depositors as the highest priority.
  • Caring for Members
    WAW will provide products and services that ensure a continued focus geared to the satisfaction of members.
  • Social Responsibility
    As a registered Authorised Deposit-Taking Financial Institution, our adoption of the International Operating Principles ensures a continued focus on true co-operative objectives of people helping people; engendering a sense of community in all it does
 

WAW CORPORATE GOVERNANCE STATEMENT

“local decisions - international convenience"

Central to the success of WAW Credit Union is utilising and demonstrating local decision makers at all levels of the organisation but providing members with international reach with a range of products and services.