1959

On 19th August 1959, 14 Qantas employees met in the Qantas Theatre at 70 Hunter Street, Sydney at 5.30pm and they resolved to lodge an application to register Qantas Staff Co-operative Credit Union Limited.
It was recommended that there be seven directors to represent the seven main areas of the Operations of Qantas Empire Airways: Mascot Hangars; Repair and Overhaul Shop; Passenger Services; Bulk Store and Transport; Outstations; Flying staff; and Head Office.

The Foundation Directors elected at the formation meeting were Keith Stedman (Chairman), George Porton, Len Wainwright, Vince Tabone, Mrs. E Dodd and John Reynolds. A letter from Qantas Empire Airways consenting to the use of the Word “QANTAS” in our name was presented to the meeting and this was lodged with the formation application. Initially membership was restricted to Qantas employees in the Sydney Metropolitan Area and the first business plan envisaged the Credit Union starting with fifty members and growing to 400 within two years. The maximum loan was to be set at £300.00. Registration was received on 10th September 1959 and operations began on 1 November 1959. After the first month 50 of Qantas’s 6,700 employees had joined.

1960

• After 7 months of operations, Qantas Credit Union was able to report that as at 30 June 1960 it had recorded a Surplus of £12,000

• Membership 277
• Assets £8,168

• The US sent the first troops into Vietnam to fight against communist North Vietnam
• The first computerized video game “The Space War 1” was developed

1961

• The first employee, Alec Kennedy, was appointed as Manager. Alec was seconded from Qantas for two days per week
• The Credit Union set a goal to have 1,000 members by 1963 (this was achieved)

• Membership 460
• Assets £30,000

• The Soviets put the first man in space (Yuri Gagarin)

1962

• Passbooks were replaced with Member Statements

• Membership 574
• Assets £42,976

• Qantas launched daily services to London
• The British Empire and Commonwealth Games were held in Perth

1963

• 1,000 Member target was achieved (by December)
• Deposits were £100,000 and Loans were £100,000
• 20% of Qantas's Australian based employees were members of the Credit Union

• Membership 898
• Assets £88,258

• US President Kennedy assassinated
• Construction began on Qantas Wentworth Hotel (this was opened December 1965)

1964

• After 5 years of operation, 1,772 loans had been approved and funded
• Three full-time employees had been seconded to the Credit Union from Qantas

• Membership 1,310
• Assets £182,524

• Qantas carries more than 250,000 passengers in a year
• Gemini 1 was launched, the first unmanned test of the 2-man spacecraft

1965

• Employees from British Airways & Air New Zealand were allowed to become Members

• Membership 1,785
• Assets £248,807

• Qantas launched the first V-Jet service on the Kangaroo Route, via Kuala Lumpur, Malaysia
• Qantas forecasted that 9,000 employees would be needed due to the introduction of the new 707’s

1966

• Australia changed to decimal currency – out with pounds, shillings and pence
• Qantas employees located outside Sydney Metropolitan are allowed to join
• A Membership drive was launched and Membership was opened to family members
• New streamlined procedures enabled withdrawals to be paid in 'only' two days and loans funded within a month

• Membership 2,346
• Assets $808,175

• Qantas Pilots go on strike – the Credit Union made 34 emergency/hardship assistance loans during the strike

1967

• Membership was opened to employees at all Qantas locations
• Charging of fees for excessive transactions was approved
• 30 June 1967, the first and only operational loss ($59.00) was recorded due to the introduction of NSW stamp duty on payroll deductions which was absorbed by the Credit Union

• Membership 2,346
• Assets $1,308,787

• The world's first ATM was installed in Enfield, London

1968

• Membership 4,111
• Assets $2,017,036

• Qantas announced plans to increase employees by 100% to 20,000 by 1980
• The Rubiks Cube became one of the world’s most popular toys

1969

• 50% of Qantas employees were members and membership was growing at 100 per month

• Membership 5,132
• Assets $3,002,757

• US successfully lands a man on the Moon – Apollo 11

1970

• The Credit Union changed its name to Qantas Staff Credit Union Limited - removing the word 'co-operative'
• Accounting records were computerised (weekly batch processing by an external bureau)
• Quarterly statements were introduced

• Membership 6,312
• Assets $4,087,280

• A new airport for Melbourne was opened at Tullamarine
• The Concord aircraft makes its first supersonic flight

1971

• Term deposits and cash withdrawal were introduced
• A full time office was opened in Hangar 20 at Mascot JetBase

• Membership 7,023
• Assets $4,895,088

• The digital age started with the invention of the microprocessor
• Qantas Airways introduced Boeing 747's

1972

• Mortgage lending and budget savings accounts were introduced
• Part time offices were operating at the Repair and Overhaul Shop, Cargo and the International Terminal

• Membership 7,192
• Assets $6,048,268

• Gough Whitlam is elected as Prime Minister of Australia

1973

• The maximum loan was increased to $10,000

• Membership 7,706
• Assets $8,312,793

• Official opening of Sydney Opera House

1974

• Loan demand was in excess of supply
• The Member newsletter was launched and was produced on an ad hoc basis

• Membership 8,545
• Assets $9,543,513

• Cyclone Tracey devastated Darwin
• Watergate Scandal caused Richard Nixon to be the first US president President to resign from office

1975

• An error in loan agreements required renegotiation of loan contracts made on incorrect forms - only 1 Member refused to renegotiate

• Membership 9,613
• Assets $17,060,126

• Colour Television was introduced in Australia
• The Governor General dismissed the Labor Government led by Gough Whitlam
• Bill Gates and Paul Allen created the company 'Microsoft'
• The Vietnam war ended

1976

• Deposit and withdrawal books were introduced
• Legislation was passed to establish a Credit Union Stabilisation Fund in NSW to protect members' deposits
• The first in-house computer system was developed and installed in the future site of Head Office in Mascot

• Membership 10,370
• Assets $24,818,724

• The first Commercial Concorde Flights took off

1977

• The maximum loan was increased to $50,000
• Head office relocated to Qantas JetBase at Mascot and Sydney City office opened in the old Qantas House

• Membership 10,952
• Assets $32,269,465

• Australia voted for 'Advance Australia Fair' to become its National Anthem
• The first Apple computer went on sale

1978

• NSW Credit Union Savings Reserve Board was established to provide depositor protection
• Credit Union’s Manager, Bert Gould is appointed as first Chairman

• Membership 11,557
• Assets $39,063,747

• The first IVF baby was born on 25 July in England

1979

• The maximum unsecured loan was increased to $5,000
• Norm Hall was appointed Internal Auditor

• Membership 12,226
• Assets $51,975,747

• Margaret Thatcher was elected the first woman Prime Minister of the UK
• US Space Station 'Skylab' crashed to earth in Western Australia

1980

• 90% of all Qantas's Australian based employees were Members

• Membership 13,183
• Assets $56,412,519

• John Lennon was shot dead in December by Mark David Chapman outside of his New York apartment

1981

• Membership 13,623
• Assets $58,806,928

• The word 'Internet' was first mentioned
• The first IBM PC's were introduced

1982

• Credit Union was forced to suspend acceptance of loan applications due to high demand
• An online banking system was installed
• Credit Union joined with other credit unions to support a mass marketing campaign

• Membership 14,012
• Assets $61,170,065

• The first CD player was introduced

1983

• Qantas Staff Credit Union became the biggest Credit Union in Australia when its total assets passed $100 million
• A branch at Qantas Freight Centre was opened
• A new Sydney office was opened in the new Qantas International Centre

• Membership 14,671
• Assets $104.6 million

• Microsoft Word was launched
• 'Australia II' wins the America's Cup

1984

• Membership 15,181
• Assets $107.4 million

• Co-branded MasterCard was launched with Westpac
• Apple introduced the first Macintosh computer
• Medicare came into effect

1985

• Credit Union Telephone Exchange (CUTIE) was launched - the first telephone banking service in Australia
• Members were able to obtain balances, order cheques and pay bills

• Membership 16,031
• Assets $119.7 million

• The first version of 'Windows' was released

1986

• Outstanding loans passed $100 million
• The Credit Union suffered a loss from the winding up of the Association of Central Credit Unions

• Membership 17,351
• Assets $135.3 million

• Crocodile Dundee was released in Australia which became a worldwide smash hit and the highest grossing Australian film until 2015

1987

• CUTIE was expanded to enable Members to negotiate loans - Qantas Staff Credit Union was a leader in the introduction of this service

• Membership 18,498
• Assets $144 million

• The 1987 America's Cup was held in Perth

1988

• The Australian Corporate Finance collapse resulted in a loss around $1.6 million in relation to misappropriated Bank Bills (these funds were subsequently recovered)
• Approved Deposit Fund was established for rollover of Superannuation funds

• Membership 19,618
• Assets $168.6 million

• The World Expo was held in Brisbane

1989

• Membership 21,442
• Assets $190.3 million

• The Boeing 747-400 aircraft was introduced into the Qantas fleet
• Microsoft Office Software was introduced

1990

• A KPMG Survey of Australia’s 50 largest Credit Unions showed that Qantas Staff Credit Union had the lowest operating costs as a percentage to income and the highest employees productivity in the Australia

• Membership 23,430
• Assets $238.2 million

• The first car GPS navigation system went on sale
• Nelson Mandela was released from prison

1991

• A Member Service Centre was opened in the new Qantas Corporate Centre at Mascot

• Membership 23,850
• Assets $290.8 million

• The American animated comedy series 'The Simpsons' debuted on Network Ten

1992

• Uniform State based legislation was introduced in all States to regulate Credit Unions
• The Core Banking System was replaced with a state of the art system, which provided more flexibility and a platform to build on

• Membership 23,897
• Assets $302.4 million

• The Australian Financial Institutions Commission (AFIC) came into effect on 1 July 1992
• One and two cent coins were withdrawn from circulation

1993

• Deposits in Approved Deposit Fund passed $100 million
• New Branches opened at North Sydney, Qantas Domestic Terminal Sydney and Brisbane Airport
• Member Chequeing was introduced

• Membership 24,897
• Assets $353.6 million

• HMAS Collins (SSG 73) became the first Australian-built and designed submarine to launch.

1994

• The Credit Union became subject to Income Tax
• CueCard (debit card), overdrafts and mortgage offset accounts were introduced
• The first Member survey was conducted
• The first issue of Creditsense quarterly newsletter was published

• Membership 25,400
• Assets $354.9 million

• Creditlink (now Indue) was formed

1995

• Credit Union’s first ATM’s were installed in Qantas Corporate Centre and Airport Central Building
• A new Branch was opened at Melbourne Airport
• 'Savings Account Zero' was rated as the best transaction account by both Personal Investment Magazine and Business Review Weekly
• Visa Debit and Direct Entry (electronic deposits) were introduced
• American Express Travellers Cheques became available through Member Services Centres

• Membership 28,100
• Assets $425.2 million

• Qantas became privatised
• The Anzac Bridge was first opened to traffic
• Westpac's co-branded MasterCard was withdrawn

1996

• Lending commenced to non-Qantas employees
• A branch in the Perth Airport Branch was opened
• 'Savings Account Zero' rated as the best transaction account by Personal Investment Magazine for the second year running

• Membership 32,998
• Assets $505.1 million

• A uniform Credit Code came into effect
• DVD's were launched in Japan

1997

• Qantas Credit Union wins best savings account for the third year in a row
• Mid Financial Year meetings were held in Melbourne, Brisbane and Perth

• Membership 36,808
• Assets $578.0 million

• Consumer Credit Code came into effect on 1 November 1996
• The sovereignty of Hong Kong was transferred from the United Kingdom to the People's Republic of China.

1998

• Administration was re-located to Hurstville and a new Member Service Centre was opened
• Qantas Credit Union accepted 'transfer of engagements' from Aviat-APS Credit Union Limited (the only merger) - This brought on board 3,500 new members
• An ATM was installed at the Qantas Domestic Airport in Sydney

• Membership 43,795
• Assets $663.7 million

• Australian Prudential Authority (APRA) commenced on 1 July 1998
• Fox Studios opened in Moore Park, Sydney

1999

• All Credit Unions were registered as Public Companies
• Qantas Credit Union was registered as an Authorised Deposit Taking Institution
• Retirement Savings Account was launched (replacing Approved Deposit Fund)
• giroPost was introduced, providing members with the ability to deposit and withdraw at any Post Office in Australia - Qantas Credit Union and Queensland Police Credit Union jointly initiated this project
• Credit Union Internet Site launched in December 1999

• Membership 48,245
• Assets $723.1 million

• The Federal Banking Act was amended to cover non-bank financial institutions

2000

• Online Banking was launched and CUTIE was upgraded at the same time
• 'A Current Affair' rated Qantas Credit Union’s Visa Debit Card linked with overdraft as the best card available in Australia
• BPAY was introduced (initially only over the counter)
• Corporate Governance Standards were introduced as well as Performance Evaluation of Board, Management and Directors
• A Onelink MasterCard was launched with points and rewards (joint venture with GE Capital)

• Membership 52,861
• Assets $790.2 million

• The 2000 Olympics was held in Sydney
• GST compliance was introduced from 1 July 2000

2001

• The website and CUTIE were upgraded to allow users to perform account transfers and BPAY transactions online
• Visa Travel Money (Prepaid Visa Cards) was introduced

• Membership 59,618
• Assets $945.5 million

• Australia celebrated the centenary of Federation

2002

• A project to provide a new and improved core banking system commenced
• Qantas Credit Union was required to apply for Australian Financial Services Licence

• Membership 62,663
• Assets $1.041 billion

• Ansett Australia formerly ceases all operations
• Steven Bradbury wins Australia's first Winter Olympic Gold Medal

2003

• A new Core Banking System was implemented
• Insurance Service was launched in conjunction with CGU

• Membership 67,167
• Assets $1.07 billion

• The last flight of the Concorde
• One Nation leader Pauline Hanson and David Ettridge are sentenced to three years jail for electoral fraud

2004

• A North Sydney Office and part time Chifley Square (70 Hunter Street) Office were closed
• A new look Service Centre opened in George Street, Sydney

• Membership 70,459
• Assets $1.2 billion

• Jetstar's domestic passenger services launched
• Facebook was launched

2005

• Internet Banking expanded to allow transfers to other financial institutions in Australia and Factor2 enhanced security features were added
• Visa Credit Card (with Rewarder Points that could be converted to cash) and Qsaver high interest on-call savings account were introduced
• Consumer Credit Insurance, BPAYview and low interest motor vehicle loan products were introduced
• New Service Centres in Sydney Airport and Hangar 3 at Brisbane Airport were opened

• Membership 74,865
• Assets $1.25 billion

• The Cronulla race riots broke out in December

2006

• Step-Ahead (tiered) Mortgage Loans were introduced together with Fixed Rate Home Loans
• SMS Alerts introduced for Internet Banking and online internet capabilities were enhanced

• Membership 79,031
• Assets $1.33 billion

• Steve Irwin died on 4 September after being pierced in the chest by a stingray barb while filming an underwater documentary film titled Ocean's Deadliest

2007

• Electronic delivery of statements became available
• New Service Centre was opened in the Melbourne Domestic Terminal

• Membership 76,744
• Assets $1.42 billion

• More than 200,000 people walk across the Sydney Harbour Bridge to celebrate its 75th anniversary
• On June 29, the first iPhone was released

2008

• Qantas Credit Union was the winner of Money Magazine Service Excellence Award
• Qwealth Superannuation Fund was launched
• Deposits were accepted from non-members
• Admission of 'friends' as Members

• Membership 80,803
• Assets $1.53 billion

• The Airbus A380 was introduced into the Qantas fleet

2009

• Qantas Credit Union celebrated 50 years
• Winner of Money Magazine Service Excellence Award for the second year running

• Membership 82,532
• Assets $1.8 billion

• The Black Saturday bushfires burnt across Victoria in February and were Australia's all-time worst bushfire disasters
• Kevin Rudd and Malcolm Turnbull apologised on behalf of Australia to the 'Forgotten Australians'
• Anna Bligh claimed victory in the Queensland state election and became the country's first elected female Premier
• Barack Obama was elected as America's first African American president

2010

• The online banking site was upgraded
• Mobile banking was introduced for smartphones and tablets
• Improved “Orion” fraud prevention was introduced for Cards
• Online application forms for term deposit accounts and new membership was introduced

• Membership 84,528
• Assets $1.99 billion

• Qantas Credit Union announced 'Assistance Dogs Australia' as its charity partner for 2010
• Mary MacKillop is declared by Pope Benedict XVI to be a saint of the Roman Catholic Church, the first Australian so declared.

2011

• Exhibited for the first time at the Australian International Airshow

• Membership 87,862
• Assets $2.08 billion

• Queensland experienced the most widespread flooding disaster in their history
• Steve Jobs passed away from pancreatic cancer

2012

• The Visa Platinum Credit Card with Qantas Frequent Flyer Points was launched
• DIY Superannuation was launched
• A Miranda Office was opened - our first street front presence

• Membership 90,255
• Assets $2.49 billion

• Instagram was sold to Facebook in April for $1 billion

2013

• A new Service Centre was opened in Niddrie, Victoria
• A new Service Centre was opened in the Melbourne Qantas Domestic Terminal
• A new Service Centre was opened in Chermside, Queensland

• Membership 89,781
• Assets $2.79 billion

• The Boeing 787 Dreamliner was introduced into the Qantas fleet

2014

• The naming rights were purchased for Sydney Entertainment Centre – renamed as Qantas Credit Union Arena
• Received the Canstar Innovation Award for Qantas Points Banking suite of products
• A new office was opened in Qantas Campus Mascot
• A new contact centre was opened in Braemar, NSW

• Membership 92,262
• Assets $3.008 billion

• Gough Whitlam died at age 98
• Etihad unveiled a $20,000 'flying apartment'
• A rare total lunar eclipse occurred in Canberra where the moon appeared blood red

2015

• A project commenced to upgrade customer-facing and back office technology to make banking easier, with less reliance of physical points of presence
• After two years of naming rights at Qantas Credit Union Arena, brand awareness reached 50% in Sydney for the first time in our history
• Resolution put to Members to change company name to 'Qudos Mutual Ltd', enabling us to trade as 'Qudos Bank' - The result was 79.98% in favour of the resolution

• Membership 95,415
• Assets $3.13 billion

• In an attempt to stimulate the economy, The Reserve Bank of Australia cut the official cash rate to an historic low of 2.25%
• A historic climate change agreement was adopted by 195 countries to reduce carbon emissions and limit global warming
• NASA confirmed the presence of water on Mars

2016

• Qantas Credit Union was re-branded to Qudos Bank
• Qudos Bank announced the naming rights of Qudos Bank Arena at Sydney Olympic Park
• Head office relocated to Mascot, Sydney

• Membership 101,405
• Assets $3.35 billion

• Qantas CEO Alan Joyce announced that direct flights from Perth to London will be introduced in 2018, marking the first time that Australians will be able to fly direct to Europe
• Australia’s economic growth shrunk for the first time in five years, by 0.5 per cent in the September quarter
• The entire state of South Australia was left without electricity after a massive storm damaged electrical transmission infrastructure
• Donald Trump won the 45th US presidency

2017

• Qudos Bank was awarded 'Home Loan Bank of the Year' in the 2017 Mozo Experts Choice Awards
• Removed Qudos Bank ATM fees to increase the network of fee-free ATMs accessible to members
• Removed Transaction fees, farewelling our Transaction Allowance to provide members with unlimited free electronic withdrawals including direct debits, Bpay, external transfers and EFTPOS
• Introduced Live Chat on the Qudos Bank website to offer members instant access to home loan specialists
• Increased operating hours of Qudos Bank Contact Centre
• Greenfleet milestone – lifetime trees 38,445

• Membership 93,690 (9000 Memberships were closed under dormancy rules)
• Assets $3.52 billion

• Same-sex marriage legalised in Australia
• The Royal Commission was established by the Australian government
• Suicide bomber targets children and teenagers at Ariana Grande Manchester concert
• Hugh Hefner died in his Playboy Mansion aged 91

2018

• Qudos Bank launched a new Mobile Banking App
• Qudos Bank was awarded ‘Australia’s Best Small Bank’ in the 2018 Mozo Experts Choice Awards
• New branch opened in Ascot, Brisbane
• Card management and PIN change capability introduced to online banking
• Greenfleet milestone – lifetime trees 42, 248

• Membership 94,771
• Assets $3.76 billion

• The Women’s March on Washington, advocating women’s rights and other issues, was one of the largest single-day demonstrations in U.S. history
• The wedding of Prince Harry and Meghan Markle was held on 19 May 2018 in St George's Chapel at Windsor Castle
• P!NK breaks record for highest ticket sales at Qudos Bank Arena with Beautiful Trauma engrossing 143,367 tickets sold across 9 performances
• France wins FIFA World Cup for the second time

2019

• Qudos Bank celebrates 60 years of providing rewarding banking to our customer, since we opened our doors in 1959.
• After 15 years as CEO, Scott King resigns from Qudos Bank.
• Qudos Bank announced as major sponsor for Qantas Founders Museum Centenary Events
• Making banking easier, the launch of Online Banking password reset feature allows members to control their password 24/7
• The introduction of the “Look Who’s Charging” service, in order to view in-depth descriptions of your transactions
• Apple Pay and Google Pay introduced
• Real time payments introduced, providing our customers with a quicker way to make or receive payments.

• Membership 96,364
• Assets $4.04 billion

• Activist Greta Thunberg becomes the face of the Climate Change Movement at 16 years old, with millions across the globe attending climate strikes to demand action be taken to address climate change
• Prince Harry and Meghan Markle welcome their first-born child Archie Harrison Mountbatten-Windsor. The seventh in line to the British throne was born May 6, 2019
• Qudos Bank Arena becomes the 4th Highest Grossing Arena in the World, according to Billboard’s Arena Power List of 2019
• First ever all-woman spacewalk by NASA astronauts Jessica Meir and Christina Koch

2020

• Michael Anastasi appointed CEO of Qudos Bank
• Qudos Bank awarded Mozo’s Australia’s Best Large Mutual Bank 2020 and Canstar’s Customer-Owned Bank of the Year.
• Qudos Bank named the Voice Project’s Best Workplace
• To reduce our environmental impact, Qudos Bank switched to eStatements
• Supporting our customers through financial hardship as a result of COVID-19

• Membership 98, 855
• Assets $4.49 billion

• Devastating bushfires rage on in Australia
• World Health Organization declares COVID-19 a global pandemic on 11 March 2020
• Prince Harry and Meghan Markle step down as senior royals
• Joe Biden becomes the 46th president of the United States of America
• SpaceX makes history with first-ever human spaceflight

2021

• Qudos Bank wins back to back Mozo’s Australia’s Best Large Mutual Bank and Canstar’s Customer-Owned Bank of the Year
• The introduction of the Spend Tracker feature in the app allows members to view and compare daily or monthly spending habits.
• Significant updates made to Real time payments allowing faster, easier and safer payments.
• The launch of Open Banking enabling customer to share financial information (such as transaction history and account balances) with accredited third parties to make banking easier across multiple financial institutions.

• Membership 100,303
• Assets $5.01 billion

• After being postponed, the Olympics took place in Tokyo from 23 July 2021 – 8 August 2021
• The Duke of Edinburgh, Prince Philip passes away on April 9 2021 at Windsor Castle, aged 99
• Qudos Bank Arena becomes a major vaccination hub in the fight against COVID-19
• Qantas celebrates its centenary year