The Annual General Meeting of Goulburn Murray Credit Union Co-Operative Limited (GMCU) will be held virtually, via Vero Voting on Wednesday 26 November 2025, commencing at 1.00 p.m. (AEDT).
Members will be able to attend the meeting online, with the ability to vote, comment and ask questions in real time, or in advance of the meeting. GMCU will provide further information on how to access the Vero Voting Platform at gmcu.com.au/AGM in advance of the meeting.
ELECTION OF DIRECTORS
An election of directors is required in conjunction with the Annual General Meeting.
Nominations
In accordance with the Credit Union’s Rule A4-2, nominations are now invited from members for the position of director. Nomination forms are available by contacting the Returning Officer at the Credit Union’s Head Office. Nominations must be signed by two (2) members as nominators and must be signed by the nominee consenting to the nomination, together with a declaration as to his or her eligibility to be a director in accordance with the Credit Union’s Rule 13.2. Nominees are required to complete all forms necessary to allow testing under APRA’s Fit & Proper guidelines.
You cannot be a director of GMCU if you have been convicted of a disqualifying offence as set out in s20 of the Banking Act 1959. To check whether a person has been convicted of a disqualifying offence GMCU will conduct a criminal history check on all candidates with the Australian Federal Police, together with a bankruptcy check and register checks with Australian Prudential Regulation Authority (APRA) and Australian Securities and Investment Commission (ASIC).
Nominations and Consents must be lodged at a branch of the GMCU by 5.00 pm on Tuesday 21 October 2025.
Ballot
If a ballot is necessary to decide the election, the order in which the candidates appear on the ballot paper is to be determined by the returning officer. The ballot will be held at the Annual General Meeting.
Hayley Collins
Returning Officer
Following the RBA's decision to decrease the official cash rate by 0.25%, GMCU will pass on the rate cut in full and decrease home loan variable interest rates by 0.25% p.a., effective 21 August 2025.
Members will be able to see updated repayment amounts in online banking and in the App from 21 August, or on their next statement.
Because we’re member-owned, we always balance the needs of all of our members - including our members with deposits too. Effective 1 September, our Advantage Saver interest rate will decrease by 0.25% - but remains well above the official cash rate, attracting up to 4.00% p.a.#. All other at-call deposit interest rates will remain at this time.
Our local team are on hand to discuss your options if you need support in navigating the rate changes. Call us on 1800 MY GMCU (1800 694 628) or send us an enquiry here.
Keeping you and your money safe with one-time passwords
At GMCU, keeping your money safe is our top priority. As part of our ongoing commitment to your security, we’re introducing an important update to internet banking.
Starting 30 September 2025, you’ll be required to enter a one-time password (OTP) when logging into internet banking. This added layer of protection helps ensure that only you can access your account—even if someone else knows your password.
This added layer of security allows us to introduce a new feature: Self-Service Daily Limits.
How it works
The OTP will be sent to your mobile phone number via SMS, and you will need to enter it each time you log into Internet Banking.
What you need to do
If you have already set up OTP, there is nothing further you need to do. If you have not yet set this up and you have your mobile phone registered with us, you can:
Log into Internet Banking
Click on Settings
From the dropdown, select Setup Security Options and follow the prompts to set up OTP
If you do not set it up beforehand, we'll do it on your behalf on 30 September.
Don’t have a mobile number registered?
Our team is reaching out to members who don’t have a mobile number on file. If you haven’t heard from us or don’t have a mobile phone, please contact your local branch or call us on 1800 MY GMCU (1800 694 628). We’ll be happy to help you get set up.
Strong passwords matter
Your banking, social media, and email accounts contain sensitive information that forms your digital identity. Here are some tips to help keep your information safe online:
Never share your password or store it on your device or browser
Use a reputable password manager
Always access internet banking via the official GMCU website
Avoid using public Wi-Fi for banking or shopping
Look for the secure padlock icon in your browser
Use strong, unique passwords that aren’t easy to guess
Avoid using personal details like your address or birthday in passwords
We’re here to help
Online banking, shopping, and communication have become second nature—but that familiarity can sometimes lead to oversights. If you have any concerns about your account, card, or online banking security, please reach out to us. You can also visit our Security page for more information.
📞 Call us on 1800 MY GMCU (1800 694 628)🏢 Visit your local branch
Frequently Asked Questions
What is changing with GMCU Internet Banking security?Starting 30 September 2025, you’ll need to enter a One-Time Password (OTP) sent via SMS to your mobile phone each time you log into Internet Banking. This added layer of security helps protect your account from unauthorised access.
How do I set up OTP for Internet Banking?If you haven’t set up OTP yet, follow these steps:
Log into Internet Banking
Click on Settings
Select Setup Security Options from the dropdown
Follow the prompts to register your mobile number
If you need assistance, please contact your local GMCU branch.
What are Self-Service Daily Limits?From 30 September 2025, you can manage your own daily transfer limits directly within Internet Banking:
Up to $5,000 for Standard and BPAY payments
Up to $5,000 for OSKO payments
You’re in control:
Need less? Set your limit to exactly what you need - for example, $2,000 - and reduce it again after your transfer.
Need more than $5,000? Visit a branch or call us for assistance.
Want to reduce risk? You can even set your limit to $0.
Already have a permanent limit? It will remain unchanged unless you contact us.
Using the Mobile Banking App? Limit changes aren’t available just yet - but they’re coming
You can login to Internet Banking at any time to change your limits. Simply select ‘Settings’ and then Daily Transaction Limits.
What if I haven’t registered a mobile number with GMCU?Our team is contacting members who don’t have a mobile number registered. If you haven’t heard from us, please reach out to your local branch so we can help you set up OTP.
How can I keep my online banking and personal information safe?Here are some important tips:
Never share or store your password on your device or browser
Use a trusted password manager
Only access Internet Banking via the official GMCU website
Avoid using public Wi-Fi for banking or shopping
Look for the secure padlock icon in your browser
Use strong, unique passwords that aren’t easy to guess
What should I do if I’m concerned about my account security?If you suspect any issues with your account, card, or online banking credentials, contact GMCU immediately. We’re here to help. You can also visit our website for more tips on staying safe online.
How do One-Time Passwords (OTPs) help protect my account?OTPs provide an extra layer of protection through two-factor authentication (2FA). Even if someone knows your password, they can’t access your account without the unique code sent to your mobile number. Because OTPs are:
Time-sensitive (expire quickly)
Single-use
Sent only to your registered mobile number
…they make it much harder for fraudsters to gain access to your account, helping to keep your money and personal information safe.
As fast, secure and more modern payment options are available in Australia, the more Australians are choosing alternative payment options to cheques.
Because of this, and significant improvements in digital payments in recent times, we have made the decision to stop our cheque deposit services, from 21 June 2025.
Why remove cheques?
You may be aware that the Australian Government has committed to phase all cheque usage out by 2030.
Our members are increasingly choosing digital options to send and receive money. And many banks have elected to phase out these services now as they can be costly, slow and sometimes risky to manage.
What you need to know
The last day to we can accept a cheque deposit will be 20 June 2025. After that, you will need to go back to the cheque drawer and ask them for alternative payment methods.
Our team are available to chat with you over the phone, or by appointment at a branch to talk through the alternative payment options that will suit your situation best.
Drop into the branch or call us on 1800 MY GMCU (1800 694 628) for more information.
Frequently Asked Questions
Media Release
GMCU welcomes new CEO to the Goulburn Murray region
Thursday 28 November 2024 – Shepparton
Goulburn Murray Credit Union Co-Operative Ltd (GMCU) has announced the appointment of Richard O'Nians as Chief Executive Officer at its Annual General Meeting held last night.
Chair of GMCU, Eugenie Stragalinos, welcomed Mr O’Nians in her Chair’s address, noting his deep connections to regional Victoria and extensive experience in financial services.
"Richard brings over 30 years of experience in the financial services sector, including leadership roles in business banking, retail banking, risk management, and financial reporting,” Ms Stragalinos said.
“He has built and led high-performing teams, fostered strong customer and community relationships, and driven strong business results across his career.
“As we move into 2025, we will face into some challenging economic conditions. The board is reassured to have a leader of Richard’s calibre navigate GMCU through those times,” she said.
Mr O’Nians has longstanding connections to regional Victoria and is looking forward to broadening his ties to the community.
“I’m passionate about seeing regional and rural communities thrive, and I’m looking forward to being part of an organisation that can directly contribute to positive outcomes for the communities they operate in,” Mr O’Nians said.
“I look forward to spending some time across our branch network and in the community to get an understanding of the unique issues impacting them,” he said.
Mr O’Nians commences his role on Monday 2 December 2024.
Ends.
About GMCU:
Goulburn Murray Credit Union Co-Operative Limited (GMCU) has been providing local banking solutions since 1955 across 10 locations in the Goulburn Murray region. As a member-owned organisation, 100% of profits are reinvested into the products and services for our members, as well as community initiatives to help local people grow, thrive and succeed. Find out more.
Highlights of GMCU’s Financial Performance for the Financial Year ending 30 June 2024:
Net Profit After Tax of $2.2 million
Total assets increased by $25 million to $558 million
Lending growth 10% year on year
Welcome to our refreshed GMCU website.
Our new and improved website experience is easy to navigate, making it simple to understand and manage your banking, loans and insurance with us.
Our web address (URL) remains the same – www.gmcu.com.au - and internet banking is still accessible via the Login button in the top right corner.
We’ve been laying the foundations for a seamless digital banking experience.
We’ve been focused on rolling out a range of improvements when it comes to all things digital at GMCU – including our recent upgrades to both Internet Banking and our Mobile App.
Keep a look out for clever new tools, features and services across our website, app and internet banking soon. We love your feedback – contact us to send it through.
