Cuscal

{{Infobox company

| type = Public

| traded_as = {{ubl|{{ASX|CCL}}}}

| company_slogan =

| name = Cuscal Limited

| logo =

| logo_size = 150px

| foundation = Founded in 1966 (origins)

| defunct =

| location = Sydney, Australia

| key_people =

| area_served = Australia

| locations =

| industry = Payments Provider, Financial services

| num_employees = 591{{cite report |title=Cuscal 2023 Annual Report |date=October 2023 |page=97 |url=https://cuscal.com/wp-content/uploads/2023/10/Cuscal_Annual_Report_2023.pdf}}

| num_employees_year = 2023

| products = Payments provider and data provider

| homepage = {{URL |https://www.cuscal.com/}}

}}

Cuscal Limited is an Australian company that provides payments and data to Australian Banks, credit unions, mutual savings banks, corporates and Fintechs.{{Cite news |last=Rogers |first=Ian |title=Cuscal debates its future |work=Banking Day |url=https://www.bankingday.com/cuscal-debates-future |access-date=2022-10-19}}

Cuscal is regulated by the Australian Prudential Regulation Authority (APRA) as an Australian authorised deposit-taking institution (ADI), and by the Australian Securities & Investments Commission (ASIC). It is a member of EFTPOS Payments Australia and the Australian Payments Clearing Association.

History

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 Cuscal Limited in December 2005.{{Cite web |title=National Names Index |url=http://www.search.asic.gov.au/cgi-bin/gns030c?juris=9&hdtext=ACN&srchsrc=1&acn=087822455 |access-date=26 April 2012 |publisher=Australian Securities & Investments Commission |archive-date=9 November 2013 |archive-url=https://web.archive.org/web/20131109221256/http://www.search.asic.gov.au/cgi-bin/gns030c?juris=9&hdtext=ACN&srchsrc=1&acn=087822455 |url-status=dead }} 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.

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) now the Customer Owned Banking Association (COBA), Cuscal also assumed the role of a trade association for Australian credit unions and co-operatives.{{citation needed|date=May 2023}}

In 2014, Cuscal acquired Strategic Payments Services.{{Cite web |last=Saarinen |first=Juha |title=Cuscal to acquire Strategic Payments Services |url=https://www.itnews.com.au/news/cuscal-to-acquire-strategic-payments-services-396712 |access-date=2022-11-15 |website=iTnews}}

In 2023, Cuscal cuts services to Binance.{{Cite news |title=Binance Australia says banking disrupted as payment provider cuts service |agency=Reuters|date=18 May 2023 |url=https://www.reuters.com/technology/binance-australia-says-banking-disrupted-after-payment-provider-cuts-off-service-2023-05-18/}}{{Cite web |last=Sier |first=Jessica |date=18 May 2023 |title=Westpac places immediate ban on payments to Binance crypto exchange |url=https://www.afr.com/technology/westpac-places-immediate-ban-on-payments-to-binance-crypto-exchange-20230518-p5d9ec |access-date=18 May 2023 |website=Australian Financial Review |language=en}}

References

External links

[https://archive.today/20130118151226/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=23783455 Company Overview of Cuscal Limited]

Category:Credit unions of Australia

Category:Companies based in Sydney

Category:Cooperative federations

Category:Neobanks