Sunshine Coast Hinterland Times

The Maleny Credit Union will launch a new finance broking business this month to boost service options to its Hinterland clients, and to attract a broader client base beyond the Sunshine Coast.

MCU Financial Services will be powered by the credit union but it will have its own logo and identity, and is the brainchild of MCU CEO Greg Stevens. His aim is that all existing and potential clients of MCU have access to the most comprehensive advice on their lending options, in addition to consumers who solely want access to this business separate from the credit union,whether it’s self- managed super schemes, to commercial and business loans.

Mr Stevens told the Hinterland Times that loans negotiated through MCU Financial Services will earn additional income for the credit union which will make more funds available for the MCU’s Community Grants Scheme. This will mean greater ongoing support for MCU members in the Hinterland region as well as support for not-for-profit groups and local art projects.

Maleny-based Marlene Jackson has been appointed to run MCU Financial Services which will have a three person board including MCU CEO, Greg Stevens. Greg will also be the managing director of this business. Marlene Jackson has an MBA in marketing and many years experience in Asia and the Pacific representing international firms such as the UK property company Richard Ellis, and international management consultantcy Arthur Anderson. She established her own business as marketing consultant and finance broker since moving to the Hinterland almost six years ago.

Ms Jackson said that MCU Financial Services will introduce a new level of lending expertise to the Hinterland.

“We will look at lending solutions that are specific to the person we are talking to”, said Marlene. “Where a bank does it the other way around. They have to massage the client around their products, because they can’t change their products.”

What it means for the average client is that the first port of call will still be an MCU loans officer. If he or she can’t provide the loan you want, then they will recommend you to MCU Financial Services.

Marlene will be developing this business independently of the credit union. However, if an MCU loans officer can’t provide the loan you want, then they will, with your consent, recommend you to MCU Financial Services.

“I would look at the person’s individual scenario”, says Marlene, “and shop around to find the best deal. This service is available to everyone and you don’t need to be member of the Credit Union, and all information given to MCU Financial

Services is kept separate and confidential from the Credit Union’s operations.

And there’s another benefit for MCU members”, adds Marlene.

“We can provide what we call a ‘health check’ on their finances to ensure they have the most suitable loan for their particular circumstances. That advice is free, and even if I find that a member’s existing plan is the best they can get, then I will advise them not to change.”

This new financial arm to the MCU is likely to be a shot in the arm to the income stream of the business that started out as a local co-operative more than 25 years ago. The credit union is hamstrung in growth potential by its relatively small geographic lending area, the loan funds it has available at any one time, and the types of loan instruments it can write.

Marlene Jackson says “Setting up MCU Financial Services is a pioneering and entrepreneurial way for a credit union to think as well as providing consumers with a one stop shop. You have to give Greg Stevens full marks for his vision in looking at new income streams for the MCU”.

Marlene won’t have a 9 to 5 regime and she won’t be office-bound. “I will be mobile”, she says, “and I will come and see you in your time and wherever it suits you, seven days a week.

Marlene Jackson has the entire country to market the new financial services arm of MCU. She is used to negotiating loans across the country and across the world. She will work closely with Greg Stevens to ensure MCU Financial Services is well pitched to attract both local clients and those outside the region.