MALENY Credit Union Ltd will formally change to a charity to be known as MCU Communities Ltd, after a meeting was held on Wednesday, July 27 to vote on a resolution to transfer its assets to a new structure.
The new MCU Communities Ltd will also incorporate the closure of the Maleny and District Credit Union Charitable Trust, which last year distributed $149,000 worth of grants, the majority to local organisations and clubs.
Greg Williams – representing the Maleny Table Tennis Club – was one of approximately 60 members who attended the meeting. Mr Williams shared that he was optimistic about the future of MCU and that all efforts will be made to continue the intent of MCU to benefit the local community.
“It is a good result for the town, our community and the organisations and I feel the community will ultimately benefit,” Mr Williams said.
Mr Williams agreed with the board’s statement that the previous structure was financially prohibitive, and that the outcome to change to a charity would be of benefit for the community.
But while the majority of members who voted were in favour of the change, Mr Williams said the low turnout was disappointing. MCU Ltd chair, Darryl Ebenezer, said the meeting was well attended given the challenges of the recent Covid resurgence.
“It’s always challenging with engagement of members, but we had sufficient numbers for the vote,” said Mr Ebenezer. “The meeting was well attended and we even had some founding members of MCU Ltd in attendance.”
While some felt there were faults in the way in which the meeting was held, the overall outcome was a positive one.
“The move to a charity means that MCU Communities Ltd can continue to have a broad impact on the social, environmental and economic cross over of our region, and enable us to continue the legacy of the charity in a different way,” said Mr Ebenezer.
“The transfer provides certainty for members and community to keep an important asset in Bunya House, and continue the distribution of grants to local community organisations.”
Members on the night were given an application to apply to become a member of MCU Communities Ltd and those that weren’t able to attend were to be sent a new application form.
Those that wish to become a member will be able to download an application.