Cuscal

Cuscal Limited is an Australian Authorised Deposit-Taking Institution (ADI) that predominately provides transactional banking, liquidity and capital management services and products to institutional customers including credit unions, mutual banking societies businesses and superannuation funds. Cuscal is a member of EFTPOS Payments Australia and the Australian Payments Clearing Association and is governed by the Australian Prudential Regulation Authority (APRA) and Australian Securities and Investments Commission (ASIC).

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Cuscal was established in 1992 as the Credit Union Services Corporation Limited and became Credit Union Services Corporation (Australia) Limited before changing its name to simply Cuscal in December 2005. Cuscal replaced the state based credit union bodies, which had been in operation since 1956. Cuscal was incorporated as a Special Service Provider (SSP) under the financial institutions scheme. It assumed a role of providing liquidity and balance sheet support, in addition to aggregated access to money markets, to the mutual banking industry through its treasury function.

In 1994, Cuscal released the Credit Union Code of Practice. Until the Credit Union Industry Association (CUIA) and the Australia Association of Permanent Building Societies (AAPBS) merged to form a new joint industry association in 2006, the Association of Building Societies and Credit Unions (Abacus – Australian Mutuals), Cuscal also assumed the role of a trade association for Australian credit unions and co-operatives.

Cuscal was downgraded by ratings agency Standard & Poor's from a rating of AA-/Stable/A-1+ to A+/Stable/A-1 in 2011.